Databroker DAO: The First IoT Market for Selling and Buying Data

Databroker Dao is the first marketplace where people can openly buy and sell sensory data. It aims to take advantage of on the IoT technology (Internet of Things) and help data owners make a healthy profit. Their motto is: everything that can be monetized will, in fact, be monetized.

What’s the Purpose of Databroker DAO?

The platform was initially thought out and subsequently founded by Roderik van der Veer and Matthew Van Nierkerk. Moreover, the platform is based on the Blockchain technology and originally, it was developed for the purpose of helping individuals and organizations alike, monetize their data in a decentralized market.

The team behind the platform is not just trying to make data collected by IoT sensors available to people. Instead, the team is creating a platform through which sensor manufacturers, owners, processors can buy, sell, and even trade data.

How Does the Platform Work?

Sensory data is still not available to people who are interested in this information. In fact, the data is still vaulted in data silos. You’re probably wondering, how will this particular platform be able to access the sensory data if it’s still not available to the general public?

Well, the platform makes use of the communication infrastructure of network operators, which act as data transmission highways for the Internet of Things sensory data. The designers are currently integrating the platform with an infrastructure, which supports more than nine billion data sensors.

We’re talking about more than 600 billion dollars’ worth of sensory data here. However, this all brings us to the next logical question – why do we even need this platform anyway?

Why We Need Databroker DAO?

Our technology is advancing at a rapid pace. For instance, according to Bain research, we’ll have more than 30 billion IoT-capable devices by the end of the decade. And the more IoT-capable devices we have, the more sensory data we’ll have.

This data can be utilized in multiple ways in different sectors such as academia, science, and agriculture. For instance, data from blood pressure reading can be applied in medical purposes to see how current patients are reacting their treatments.

On the other hand, temperature and moisture data can help farmers across the globe find out the perfect time for cultivation and can help them make the most of their efforts. Various manufacturers can use this data to learn more about the habits of their customers and improve their marketing efforts and even improve their products.

All in all, Databroker DAO will provide the owners of this data a new revenue stream and allow them to monetize this data. Without a platform like this, the data would be collecting dust in a data silos somewhere and we would never see the full potential of the Internet of Things.

The Bottom Line

Although Databroker isn’t the only platform that allows you to trade sensory data, it was still the first marketplace of its kind. The designers released the beta version of Databroker back in March last year after a demo was held in January of the same year.

The company might still be in the startup phase, however, they’ve managed to partner with some of the biggest names in the data trading industry such as Senthus, Technilog, Yuktix, and Desidedatum.

They’ve arranged an Initial Coin Offering, where their DTX coins will be sold to possible investors, in order to raise funds. They’ve created the coin to serve as the means of payment on the platform in an effort to avoid any possible problems with transactions in fiat currency.

For more visit:

Website: https://databrokerdao.com

Whitepaper: https://databrokerdao.com/whitepaper