DataBroker DAO – A Blockchain Powered Marketplace for IoT Sensor Data
Growing demand for data among scientists, as well as environmental agencies, energy corporations, and governmental organizations, gave rise to a concept of data marketplaces, and many IT startups quickly caught with the trend and started exploring this idea. Among them, I'd like to distinguish DataBroker DAO, a project, aiming to create a marketplace for IoT sensor data.
The platform is created by SettleMint, a Belgian technology startup and one of the strategic blockchain investments of Medici Ventures - an investment group, specializing on various projects related to banking, KYC and identity management, database technologies, and capital markets. In other words, projects, aiming to solve a number of the most relevant problems in the tech industry today. Medici Venture is a subsidiary of Overstock.com, and its vast investment portfolio also includes such heavyweight projects as t0.com, IdentityMind, Factom, and others.
A key aspect that makes DataBroker DAO project interesting is that it already has a comprehensive business model and a working prototype. Also, the startup established a number of partnerships both with the potential suppliers of IoT sensor data and potential customers. The project partners with YUKTIX - an Indian company, providing a wide range of sensor data related to the spheres of agriculture and environmental monitoring. At the same time, DataBroker DAO is in an alliance with SENTHUS consortium that expected to be one of the first IoT data consumers on platform's marketplace. The SENTHUS consortium is a Belgium company supported by the ministry of the economy of Brussels. The company particularly plans to use IoT sensor data to implement a Smart City model in the capital of Belgium.
The project's competition in the field of blockchain data marketplace solutions includes such well-known names as Streamr, IOTA, and Ocean Protocol. The DataBroker DAO founders emphasize as their key advantage an ability to deploy their technical solution really fast. As opposed to Streamr or IOTA, DataBroker doesn't require any changes in the IoT devices' protocols and software and ready to work with what's available. Also, it doesn't propose any alternative blockchain models in its core architecture. Essentially, it's just going to create an integrated system from various components that are already in place: existing infrastructure of IoT sensors and the Ethereum blockchain. It can be done really fast, which would catapult DataBroker DAO ahead of competitors in terms of the concept’s practical business application. In fact, the project is planning to launch its full-scale implementation this year.
The DataBroker DAO platform includes three categories of participants: Data suppliers, providing IoT sensor data to the marketplace. The range of potential data sources is vast. It can be data from agricultural observations. As a matter of fact, 10% of all farmers in Belgium use sensors, measuring temperature, atmospheric pressure, humidity, and PH level of the soil. This allows them to maintain a precise control of their technological process. It can also be the data, collected from traffic control systems, weather prediction centers, etc. Data suppliers can benefit from getting additional income by selling that data on the open marketplace. The second group is Data Consumers, people, and organizations buying IoT sensor data. It can be scientists training AI algorithms, ecologists, accumulating information from various sources to create some integral predictive analytics, Smart City infrastructure planners, etc. The third group of participants is Data Processors who buy data with the aim to re-sell it afterward. They add some value to the data, for example, aggregating information from various sources into comprehensive datasets, supplying data with calculations and analytics, etc. The DataBroker DAO project is planning to use an ERC20 compliant DTX token for all the monetary settlements and operations conducted on the platform.
Team
Starting from March 19, 2018, DataBroker DAO will conduct a token sale. Token exchange rate is 1 ETH per 4000 DTX tokens. At the first stage of the sale from March 19 till March 26 (pre-sale) buyers will receive 50% bonus on token purchase.
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