DATUM: A DECENTRALIZED PLATFORM FOR DATA MONETIZATION

alenade (30)in #ico • 6 years ago

The application of Blockhain technology in our economy has been on increase recently, it's security measures is topnotch, the decentralized nature gives everybody a level playing ground, it's transparent and effective in processing data leave much to be desired.

I encourage everyone if my audience to get acquainted with Blockhain technology and it's complexities because is a next generation technology, it's ability to allow robotics and artificial intelligence machine is such that humans in a very short time is going to relieved of their job and replace them with better speed and accuracy machines.

Data theft is the biggest unresolved issue in our ecosystem today, individuals that use various internet gadgets are the most vulnerable as their data is stored by private organization in a large data silos where it can be stolen or tempered on daily basis without their consent by big IT companies either to sell them to government agencies that will use such information to track individuals internet activities, they sell this data at a very high amount of money sometimes they will use it for their own benefit.

Control of data is one of these benefits. This alone has been swaying the internet population to vouch for more decentralized platforms. Being able to control your data means that more privacy and security will be afforded to the data you produce through various platforms. A practical application of this is the Datum platform. This article explains what you need to know about Datum’s amazing data control ideas and how they may benefit users financially.

For users to make the most out of their data, the intermediaries that vend user data have to be done away with. This can only happen by connecting data consumers directly to data producers. This is essentially what Datum is going to facilitate. In most cases, data consumers usually have nowhere to turn to when they need data at a reasonable price. Obtaining data right from the primary source may be an expensive and tedious task which most consumers may want to avoid. Data vendors provide a convenient and less expensive solution as they usually have different sets of data that they can easily curate to meet the demands of data consumers. The process through which they get this data may not be ethical but for consumers, at least they get the data they need. In this day and age where every small detail can bring controversies, it seems safer to obtain data from a legitimate source. These sources are scarce and most may not have the diversity that data consumers require. Datum is the solution to these problems.

In order to eliminate these intermediaries, Datum will become the ultimate intermediary through its platform. This is where P2P connections that will benefit both data consumers and producers will be made. A data marketplace will be availed within the Datum platform. Through this marketplace, sellers and buyers of data can negotiate and agree on deals thereby providing a healthy environment for the data business to take place.

Users will earn through DAT tokens whenever they upload data to the platform. They will also earn DAT tokens from the sales they make via Datum. These are however not the only source of revenue for users, here are some other sources of revenue through Datum users are likely to get:

Datum is planning a global platform that can work from any part of the world with internet access. For this, it requires storage nodes that will supply both the storage space and the processing power needed from computers. Storage nodes will be incentivized to provide these services by Datum rewarding them with DAT tokens for the space they provide and processing through their devices. The more storage space Datum takes up, the more tokens the storage node receives. Rewards on storage will also be based on the period of time a user wants their data to be held in Datum. The number of copies made and where they exist will also affect the revenue generated by the provider of these services.

Possible increase in the value of DAT tokens. DAT holders stand to benefit from the projected increase in the value of the DAT tokens. The DAT platform provides services that can be appreciated by a great majority in the world. DAT targets to have as many users in its platform such that the increased use of Datum leads to a possible increase in the value of DAT tokens. DAT tokens are to be supplied in a fixed number which will make this growth possible with a growth in demand of the DAT tokens. Users can then get better value for their tokens as the platform continues to grow.

How Users Will Interact With The DAT Platform

The most convenient way available for user interaction is through smartphones. Datum has a mobile application that will make its platform easily accessible. Datum’s platform can also be accessed via desktops through its website.

The Datum Client feature will come bundled with the application. Through the Datum Client, users will be given access to different services and statistics based on their usage of the platform. Data that is stored on the platform can be viewed from the Datum Client giving users a clear and transparent record of the data files they have uploaded or the ones they are hosting on behalf of Datum.

Privacy in Datum can be toggled from the Datum Client. Users will have full control of how they would like their data to be handled; in fact, users will be doing the handling of their own data.

Once data is sold, the buyer receives access to the data and can do with it according to the smart contract. Users can view the data access activity from the Datum Client with a data access report also being accessible providing a detailed summary of the access activity.

Trading on Datum will basically be done through DAT tokens. Transaction details and DAT holding information will also be displayed on Datum Client.

Datum Client allows users to get a quick glance at every activity they are involved in through Datum. The Datum application will be available for Android and iOS which covers a majority of smartphone users globally thereby creating access to a potential market.