How Datum Is Giving Everyone Control Over The "Oil" Of The 21st Century
“The world’s most valuable resource is no longer oil, but data”
Declared an article from the Economist this year.
It has been commonplace to call data the new oil. And this analogy is in many ways correct.
As oil fuelled the industrial economy of the twentieth century, so to is data fuelling the digital economy of the twenty first century.
And like with oil the institutions, company and tycoons that control data stand to accumulate great power and wealth.
Where data differs from oil is the way that it is created.
Massive amounts of data is created each day by our individual actions.
Each website that we visit or app that we use creates data.
This data in turn creates a virtual picture of ourselves.
Corporations can use that data to develop products and the market those products to us.
In some cases that data is even used to manipulate us.
The one thing that corporations are reluctant to do is to share the wealth that is comes from that data with the people who have created it.
Its a system which is unjust and could have major consequences going forward.
Data is going to become ever more important as we shift into an increasingly virtualised world and the internet of things.
The amount of data that we create in the future will dwarf anything that we create today.
That’s why its important that ordinary people are able to get control over their own data and how it is used.
Datum is a decentralised data marketplace that wants to do exactly that.
What is Datum?
Datum is a network which allows any one to store their own data in a dencentralised way using a smart contract blockchain. By storing data using Datum the owners of that data can choose to sell that data.
How DAT Tokens Work
DAT Tokens are the fuel for this network. DAT tokens are used every time that someone wants to buy data from it’s owner. DAT tokens are also used as a reward to incentivise storage nodes who provide the storage for the data. Storage nodes are paid out as a fixed percentage of every transaction. The reward is shared amongst the storage nodes according to how many resources that they contribute.
Road Map For Datum
Following the token sale set to end in November, there will be a test network launch in December 2017. This will enable the basic functionalities to be explored by the community and developers. The full main network launch is set for June 2018. At this point the Datum network will consist of a Datum App, open APIs, trading system and a decentralised storage layer.
Participating In The DAT Token Sale
DAT tokens are being offered as part of a token sale which starts on October 29th and ends on November 29th.
As part of this DAT token sale one billion tokens will be made available to the public. The DAT tokens will be priced at 25,000 DAT is the equivalent of 1 DAT.
Further Reading
Website: https://datum.org/
Whitepaper: https://datum.org/assets/Datum-WhitePaper.pdf
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