About Datum! DAT is trading live on exchanges now!

djon (26)in #ico • 6 years ago (edited)

Datum Network targets to assist internet users in retaking authority over their data. The Datum client submits data of the users to the network and enciphers it with rules for usage that are given by the data producer.

The Datum network is going to utilize IPFS, which is a storage protocol for distributed data. It is a peer to peer protocol designed to store and share media in a distributed file system. Data on the network are then set to duplicate to storage nodes, which is a part of the Bigchain DB cluster. Miners provides the network with storage capacity and computational power, and in return, they receive Datum Tokens.

Ultimately, users are going to be able to sell their produced data on the Datum marketplace. Ethereum based smart contracts start the release of data that is going to be sold, accordingly to the usage rules set by the owner of data. The trade of data will compensate in Datum Tokens.

Consumers of the Datum network consist of entities that are non-profitable, like NGOs and researchers, as well as companies that are private. Consumers gain advantage from direct access to verifiable and confirmed data.

When data consumers take an interest in buying data, the data producer receives a specific request for purchase of data. The user then has the option of:

Accept the request – the decryption key is sent to the data consumer

The user submits a counteroffer with the changed proposal.

Datum network accentuates the integrity of the customer as a vital aspect in this operation and believes this will motivate the buyers of the data to create and maintain a trusted track record. This system will also ensure data producers that their data are not going to be abused.

How is the platform so safe and secure?

With such an emphasis placed on privacy and security of personal data, if Datum manages to deliver on their aims, this could transform the personal data world forever.

The network itself is reliant on what is called the DAT Token Smart Contract which allows for the secure trading of personal data at the same time as respecting the terms set by the owners of the data.

The firsts step in the process is for the users to submit their data by implementing a variety of services into the platform and then paying a small fee in DAT in order to have network storage for this data.

Under the outlined usage term, this data will be encrypted, anonymized and subsequently entered into the network.

The relevant storage node miners will then save and transmit this data that has been encrypted, subsequently earning payment in the form of DAT tokens for this action.

The smart contract will then begin the key exchange off-chain in order to cater for the release of the data in accordance with the owner’s specific terms.

The final step is that buyers will then pay DAT tokens in order to acquire this data, which will be received by the data owners themselves.

The Ecosystem

The Datum Network depends on the Datum Token Smart Contract to ensure safe exchange of data and in the meantime to respect the given terms by data owners.The Ecosystem consists of following:

Users submit data- They do that by connecting various services to the platform, compensating with a small Datum Token charge to store it in the network.
Storage Node Miners- They transmit and save the encrypted data, acquiring Datum Tokens for that action.
Purchasers acquire data in trade for Datum Tokens that are paid back to the original data owners.

Datum Team

The team members of this project have extensive experience regarding building big-scale management and data processing systems. Roger Haenni, who is the CEO, made a company for smart wearables for babies. Gebhard Scherrer, which is in charge for operations, has previously been working as a sales director for all sorts of companies. VC Tran, in charge of marketing, founded a company that provided solution for thermal and aircondition systems. Florian Honegger, known as a expert in developing smart contracts, has a 15-year experience in data management and enterprise document architect in the micromechanics, automotive and defense sectors.

About DAT tokens