Datum Token - Building the new global data economy

deepakagarwal (43)in #datum • 6 years ago

How much is your data worth?

In today's world, a ton of data is created everyday by each individual through various platforms - this data is largely owned and stored by large companies where it can be packaged and sold or exploited. Think about all the data you already share on social media whether it is through Facebook, Google or Instagram - every action on these platforms provides them more information about you. Datum is a blockchain based database and marketplace that enables you to take control of your data with an open-source data network and marketplace. In simple words, you can set your own rules as a data owner and monetize your data

Datum's goal is to revolutionize the current data market by providing data consumers and data creators a platform to access the data in a rightful manner and ensuring that the data creators are paid for using their data. Data is encrypted and secured using AES256-GCM (considered among the top ciphers) with 256-bit key size for every 128-bit block in a decentralized manner i.e. it is not controlled by any single company or individual.

Datum's data network roadmap

Datum main network launch is expected to happen in Q3 2018
In June 2019, Datum will release an SDK and support system for developers to utilize the network as a decentralized database for any personal data collected by their application or service - the developers can then become service providers to facilitate monetization and storage of such data
In Sep 2020, Datum plans to implement a white label offering of data storage solutions separate from the public datum network to target the government and enterprise users
By 2021, Datum aims to have a complete developer ecosystem in place
By 2022, the mission of the Datum's team is to reach over 300 Mn users across 45 countries transforming itself into a global data marketplace. It intends to have a decentralized governance system in place where decisions can be made by a quorum of token holders

Project highlights

In Q1 2018, Datum completed over $100,000 USD in data transactions with its 90,000+ users and 8 partners
In June 2018, Datum collaborated with Sovrin Foundation, an international non-profit engaged in providing every person with an indestructible and adaptable smart identity
Datum team has grown from 19 in Q1 to 24 towards the end of Q2 2018 across its offices in Hong Kong, Switzerland and United States
Recently listed on Airswap and Joyso exchanges
Datum App is already available to download for both iOS and Android - you can access them using the links below
You can currently earn 1 DAT per month for simply sharing your location - yes, 1 DAT for now but the Datum team is sourcing location data buyers to increase this reward in the future
Further, you can earn anywhere between $0.50 to $5 in DAT tokens for each promotional email you open. In the future, Datum will provide an option for users to get paid for sharing many other categories of data

Summary

If you consider for a moment the fact that 90% of today's data was created in the last 2 years, you will realize the importance of data in today's world. Data analytics is big business and almost nothing trickles down to the data creators in the present scenario. With the adoption of blockchain technologies, this is changing - we are moving towards decentralization of identity data, cloud storage and even personal data which is kept securely and under control of the creators. The value is passed on to the creators. So far, a big achievement for the Datum team is to successfully bring onboard 90k+ users in a relatively short period of time. I have big hopes for the project! Check out the Datum blog to read more about the latest on the project: https://blog.datum.org

Happy investing!

Note: This article was created in exchange for a potential token reward through Bounty0x
Bounty0x username: @deepakagarwal

#data #cryptocurrency #crypto #blockchain