DataBroker DAO - Unlocking the potential of sensor data
Artificial intelligence is the future. Many scientists nowadays claim that it will transform the world that we know almost completely in the coming days. Some are sure it will help us evolve, others are afraid that AI may prove disastrous to humanity in one way or another. Whatever is your stance, there is no escaping the fact that artificial intelligence is the most promising research venue that tech giants like Google, Apple, Amazon, Facebook, etc. AI is here to stay.
For artificial intelligence to be useful, it needs to learn, it needs specialized data in incredible amounts. Old movies, that show AI just connecting to the internet and absorbing all the information to become super intelligent, would make any scientist frown and dismiss them as nonsense. Just access to the world wide web is nearly not enough for AI to learn. But maybe those movies weren't so far from truth after all.
Introducing DataBroker DAO – a global market for local data, a decentralized marketplace where data buyers can purchase data from different local Internet of Things sensors. At the moment all the sensor data is usually kept in silos or walled gardens, where no organizations, cities or entrepreneurs can have access to it. Developers of DataBroker DAO realized that using smart contracts powered by the Ethereum network would bring sensor data to places where it is most beneficial.
Let's take a closer look at the way this marketplace works.
Data is collected by billions of devices globally and transferred wirelessly to different Gateway Operators (usually telecommunication companies). If the sensor owners agree, the Gateway Operators offer this data to the marketplace where it is sold. A 10% cut of the revenue goes to the Gateway Operator, 10% stays on the platform as a service fee and 80% goes to the sensor owner. All transactions are made in DTX tokens, for security that is provided by the blockchain.
Many business sectors currently use sensors for a variety of purposes. The most prominent sectors are:
- Manufacturing. Sensors are used to regulate and increase efficiency of production.
- Transportation. Traffic and vehicle specific data is collected.
- Utilities and Government. Sensors are installed to measure electricity and water consumption, etc.
- Agriculture. Sensors that help with keeping track of pests and cultivation.
Another interesting sector that is currently underrepresented but could be boosted by DataBroker DAO is Smart City projects. Currently, in most cases it is too expensive to install and maintain the multitude of sensors that are required for Smart Cities, but through a decentralized marketplace this data can be later shared, cutting down the expenses.
It is clear that there is a lot of data that is desired, but not yet harvested. Data buyers are those who purchase data for use in their own ventures, be it simply a way to calculate statistics, or something as advanced as Artificial Intelligence. Data processors are those who purchase data to improve it, modify or analyze it, and then resell it. Environmental agencies, transportation companies, academics, energy corporations and tech companies are just a few of potential clients of DataBroker DAO.
In essence, DataBroker DAO gives sensor owner an opportunity to monetize the data that they collect as a part of their operation no matter what. Gateway Operators attract more users to adopt their network make use of the marketplace. Buyers have unprecedented access to information at their fingertips.
The data industry is booming because of artificial intelligence and new data processing algorithms utilized in virtually everything. Proper handling and processing of this data is what will determine our future, that is why a project like DataBroker DAO is all but guaranteed success as long as there are companies willing to join and offer their data. Fortunately many large sensor owners have already prompted in, giving this decentralized marketplace a good variety of data sources right out of the gate.
If you would like to keep track of this project, or interested in the token sale, please check out the links to the official website and social media below. The info about their back-end technology is also very solid and extensive, so if you are interested in that please check out the whitepaper.
What do you think about DataBroker DAO? Is your company interested in purchasing or offering sensor data? Tell me in the comment section below.
DataBroker DAO Official Website
DataBroker DAO Announcement thread
DataBroker DAO Facebook and Twitter
Author's bitcointalk: OceanWind33
The concept of artificial intelligence always scared me a little, but the team of this project definitely knows how to handle it
Article upvoted, good work and awesome writing skills!
We have many different sensors where I work that definitely collect a lot of information, but it is only used internally at the moment. I will show this project to my boss, maybe our company can implement DataBroker into our work, or even fund the project. Thanks for the info!