DATABROKER DAO: THE OUTSTANDING MARKETPLACE FOR SENSOR DATA

emmy92 (42)in #ico • 6 years ago (edited)

The marketplace for IoT (Internet of Things) sensor data is growing at an alarming rate. Billions of dollars are being spent yearly by government, companies and researchers, while the underlying benefits are locked away unutilized.
In 2013, IoT-GSI (Global Standard Initiatives on Internet of Things) described IoT as the Infrastructures of the modern information society. IoT can be likened to an interrelated system comprising of the following;
a. Computing devices,
b. Mechanical and digital machines,
c. Objects,
d. Animals or People; that have access to unique identifiers, thus having the ability to transfer data over a network without the need of human-to-human or human-to-computer interactions, (IoT-GSI, 2013).
According to IoT-GSI, IoT has evolved tremendously, thus the need to harness its potentials.
In other to fully enhance, at the same time utilizing the benefits associated with IoT, led a team of experts into creating a platform, where data gotten from IoT sensors will be converted to profits. This is no other platform than DATABROKER DAO. DAO in crypto space means Decentralized Autonomous Organization.
Databroker DAO is certainly the first decentralized Peer-to-Peer marketplace where buying and selling of IoT sensor data take place. With the aid of blockchain technology, Databroker DAO gives sensor owners the ability to monetize their generated data, thus opening up a wealth of opportunities for many organizations, in the long run, data is fully utilized.
It is a well-known fact that companies use sensor data to enhance as well as monitor their operation, the result thereof is limited, but with Databroker DAO, the results are optimized and made easily accessible to organizations, cities etc at a cheaper rate.
Why Blockchain Technology? Databroker DAO utilizes blockchain technology to ensure data protection and security as well as efficient real-time transactions made possible with the aid of smart contracts.

THE CHALLENGE

Trapped Potential and Monetization of IoT Sensor Data.
Like earlier stated, government, researchers, individuals etc spend billions each year buying and maintaining IoT sensors. Yes, the application in IoT, as well as the growth, is truly surprising but yet, it is faced with issues which tend to limit its efficiency, such as;
a. Operational cost is high, thus posing as a huge entry barrier,
b. All data captured by IoT sensors are locked up in compartments known as "DATA SILOS".
A study has shown that by 2019, the value of locked data will reach a whopping 120 billion USD.

THE SOLUTION

The simple solution to the challenges limiting the true potential as well as monetization of IoT sensor data is DATABROKER DAO.
Databroker DAO is the first decentralized Peer-to-Peer marketplace for the trading of IoT sensor data. Databroker DAO solves this challenge by directly connecting sensor owners with IoT sensor data purchasers. This is made possible by making use of existing Infrastructures such as;
a. Infrastructures from telecommunications providers, which operates sensor connectivity networks based on GSM, LoRa, SigFox,
b. Propertiary gateway of sensor owners.
Therefore, Databroker DAO can be seen as a secondary marketplace for IoT sensor data.
This marketplace utilizes smart contracts built on Ethereum blockchain.

BENEFITS OF DATABROKER DAO

a. With Databroker DAO, it is possible to monetize IoT sensor data.
b. Sensor costs can be recouped.
c. It is possible to gain access to thousands of sensors.
d. The expenses incurred can be turned into profits.
Therefore, Databroker DAO can be used by;

Sensor Owners: Databroker DAO gives these Individuals the opportunity to monetize their data.
Network Operators: They gain scale and speed owing to the adoption of their network.
Sensor Manufacturers: With Databroker DAO, these manufacturers will have the ability to channel resources to profitable Software-as-a-Service (SaaS) offerings.
Smart City Initiatives: Databroker DAO makes it possible for investors to turn expenses into profit.
Agricultural Sector: Most farmers deploy sensors for wind, temperature etc, with Databroker DAO it will be possible to recoup some of the associated costs.
Academics: They will have direct access to thousands of cheap sensors.

DATABROKER DAO TOKEN

Databroker DAO token DTX (Data Exchange token) is an ERC20 token built on Ethereum blockchain. It is a utility token with the total supply of 225,000,000.
DTX is used for buying and selling of sensor data within the platform.

TOKEN SALE DETAILS

CONCLUSION

Databroker DAO aims to create a platform where it will be possible for IoT sensors owners to monetize their data and data consumers a decentralized marketplace to buy IoT sensor data. This platform will be built on Ethereum blockchain while smart contracts will ensure there are efficient transactions.

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