Datum network is based on smart contracts which enable the sharing and exchange of data
Datum client will be a web and mobile based application where user submits the data along with its usage terms. The data gets encrypted and stored in decentralized form using IPFS and BigChainDB. Users will have to pay some fee to the network storage miners. Once buyers submit their requirements, smart contracts match the attributes and release data in exchange of access charges taken from the buyer.
Apple’s Healthkit is similar to what Datum aims to offer. However the data stored on Healthkit is centrally located and owned by Apple, and the users don’t get paid for sharing their data. The team has not given many usecases of the product usage in their short whitepaper apart from a few examples of data monopoly of internet giants like Facebook and Google. Newly launched AirToken also pays users for enabling access to data. The concept of Datum is somewhat different, you can check our review of AirToken here. Companies like Papyrus,Qchain are creating digital advertising ecosystems in which users get paid for sharing their data to advertisers. They are limited to advertising ecosystem, while Datum aims to cover other domains as well, although we don’t exactly know which ones.
DAT is the only token to be used on the platform. DAT will be used in various stages of the product offering. Users will have to pay DATs to access the network and store data. Data buyers will pay DATs to register on the network and access user data. Third party services of CIVIC, IPFS, BigChainDB will be used in the network.
The ICO will begin on 29th October. The total supply of DAT will be 3 billion of which 1.53 Billion will be available for the ICO. There is a softcap of $5 million and a hardcap of $45 million. One DAT is valued at around $0.03. 20% of the total supply of 3 billion is kept for the team. 60% of the funds raised will be used for development and 15% for marketing.
CEO Roger Haenni is a serial entrepreneur with extensive experience in big data systems. He has cofounded 4 companies one of which includes StockX. StockX is a venture capital backed e-commerce site for global sneaker resale market. The whitepaper lists 8 members in the team and 1 adviser. Adviser Daniel Saito is the cofounder of MySQL. A recent blogpost shows addition of 3 new advisers and a few more team members. The core team has no prior blockchain experience, they have hired 2 Stanford undergrads as blockchain engineers. We give an average rating to the team. The team’s lack of blockchain experience should have been compensated by having more advisers who have worked with the technology.
I would like to remind you once again that ico sales are still ongoing for investors wanting to invest. I think that this project will attract your interest, which will make human life easier thanks to its hosted features. You can review the official website and the social media tools. You can find the links for this at the end of the article. In order to follow the project more closely, I would recommend you to follow the social media tools closely and also to read the simple and uncomplicated whitepaper read.
Website: https://tokensale.datum.org
Whitepaper: https://tokensale.datum.org/assets/Datum-WhitePaper.pdf
telegram : https://t.me/datumnetwork
twitter: https://twitter.com/datumnetwork
facebook: https://www.facebook.com/datumnetwork
bounty0x username : freimiller