27 Jun 2018

Databroker DAO- The first and foremost online platform in the world that uses the technology of blockchain for buying or selling IOT sensor data

Internet of Things (IoT) sensors generates a wealth of usage data, giving data owners a great understanding of consumer usage habits. However, a lot of this data is kept in data storage and not used. With Databroker DAO, it is possible for sensor data owners to easily connect with parties using this data for research and development, allowing an easier flow and greater use of information.

DataBroker DAO is formed as a marketplace for selling and buying of sensor data. This blockchain based marketplace is formed for IoT sensor-based data. Here blockchain technology will enable sensor owners to generate revenue from the data that is generated. 

This is much in demand for many industries which will open up several opportunities for them. Data usage will also become effective in more ways. Sensor data comes of use for several companies who need to monitor as well as optimize their operations. DataBroker would drive the evolution towards smart living that is being adopted by many cities and organizations.

Companies, governments, researchers, and individuals spend a lot of money every year on maintaining and buying IoT sensors. Since investment in IoT applications has been growing, the data that is captured by such devices need to flow and be more accessible to gateway operators like networks and telecom companies. That is what this platform seeks to facilitate.

The Product

Databroker DAO is building off the back of IoT sensors. These sensors are already in place in millions of households, often set up and operated by telecommunications companies. The project takes this existing infrastructure and opens it up via peer-to-peer networks, making use of data that is otherwise often stored away and not used.

The center of Databroker DAO’s project is its decentralized data marketplace. IoT sensor owners can place their sensor data on the marketplace, to be purchased by interested parties – research organizations, entrepreneurs, and more. Sensor owners funnel data through their gateway operator, which will then facilitate the transaction with data purchasers through an Ethereum smart contract operation.

As sensor data flows through these gateway operators already, the DAO marketplace platform redirects this information through to the new source – the buyer. As an incentivization for participation in the network, gateway operators will receive a percentage of fees for marketplace sales made.

The intent of Databroker DAO is to employ a wide, global range of gateway operators forming a network that will allow parties to transact throughout the world.

This platform has been formed with the following features and functionalities:

  • This platform would work through smart contracts formed based on Ethereum blockchain technology.
  • It would help unlock the value of IoT sensor data collected in different platforms. Such data would be put up for sale and buyers would be able to purchase and discover as well as access the data using DTX tokens of the system.
  • The gateway operators would be able to run Ethereum enabled main net blockchain nodes on the platform and based on an open source API on the platform.
  • Data that is generated by client software and sensors would be sent across to the respective APIs. Here the purchase requests are checked and access is provided to the buyer or the data is sent to the buyer location specifically.
  • The platform would have gateway operators set up already for gathering data as per client requests. Hence routing the data streams to internet locations would be straightforward.
  • Gateway operators would be given DTX tokens as per a certain percentage of the transactions they perform.
  • The platform would be able to support gateway operators across the world and that makes it a global marketplace for sensor data.

The Technical Aspect of the platform

As we said, the company operates on a decentralized network and are looking at distributing data via an online marketplace. This will take place on the blockchain offering a degree of security along with anonymity, which may prove to be rather important for some individuals.

Their marketplace will bring together the owners of the sensors, those that process data, and finally, the companies that require the data for their own individual purposes. It becomes clear as to who is going to be able to generate the revenue from the data, and there are various ways in which this can be achieved.

Say you have a fitness tracker on a smart device. You would be able to sell the data that is captured by a company that may be involved in marketing or advertising. On the other hand, if you are seeking to purchase data from smart objects and wish to do so according to certain demographics, then you are also able to do just that.

The company states that there is a vast amount of data out there on these devices that have remain unlocked. They even state that somebody such as a farmer would be able to purchase data about the weather to then use to plan what they will do next.

This all takes place via the blockchain when it comes to data being transmitted to different parties. This provides security as well as incorporating the customary anti-fraud measures as well as allowing the owner of the data to select who gets access to what. This sense of control is only available via these means as is the anonymity that it also then provides.

Also, the platform that they use is built on Ethereum, and their token is an ERC20 token. This then allows people to use their own Ethereum based wallet opening up the door to even more users than before.

The team working behind DataBroker

The team comprises of Matthew van Niekerk, who is CEO and co-founder of the platform. He has experience of having founded two companies in Japan and being an MBA, he also has work experience of having headed a consumer finance company’s project on crowdfunding and brokerage services. He is aided by Roderick Van Der Veer, who is CTO and co-founder of the platform, having work experience in running eCommerce projects in Belgium. He has worked with several IT companies and helped a Marcom agency become a digital powerhouse as CTO. 

The team has Frank Van Geertruyden as Marcom director who has about 20 years of experience in automotive, FMCG sectors in domains like publishing, sales, and advertising. Others who form the core team are Els Meyvaert who works as project manager, having work experience in several financial institutions. There are several others who work in different roles such as solution analyst, blockchain developer and architect, management assistant, investment advisor and so forth.

Detail Information 

Ticker                         : DTX 
Token type                  : ERC20 
ICO Token Price           : 1 DTX = 0.11 USD (0.00025000 ETH) 
Fundraising Goal          : 11,800,000 USD (27,000 ETH) 
Sold on pre-sale          : 50% BONUS 
Total Tokens               : 225,000,000 
Know Your Customer   : YES (PERIOD ISN'T SET) 
Bonus for the First            : TOKEN SALE DAY 1 - 10% 
Accepts                       : ETH
Country                       : Belgium

More Information :

Databroker DAO Conclusion

Overall, the concept that’s been put forward by the new platform looks good. There’s real potential to the data that they’re planning to put on an online marketplace.
So far this area has remained relatively untapped, there have been a few similar blockchain based projects but so far the market is still fully up for grabs. With the growing number of smart devices, it looks like a huge market to enter.

Their new token will act as the utility token behind the platform which is always good as it adds extra demand to those looking to speculate on it. As with any ICO, the real challenge will be getting the initial users to sign up to the platform, however, with so many people already interested in the token sale, it looks like they stand a good chance.
Overall this ICO certainly looks worth doing more research on, there’s also no minimum investment so it’s good for those looking to get involved with a minimal amount.

No comments:
Write comments

Interested for our works and services?
Get more of our update !