The Internet of Things is a market that is increasing at an unprecedented rate. From smart shoes that count your steps to refrigerators that order your milk if you are low on it, these interconnected devices topped 9 million in quantity in 2017 with estimated 30,000,000,000 individual devices and is expected to become a $7,100,000,000,000 industry by 2020.
The data generated by these devices is very small and fine tuned for their specific purposes. However, if data from these is pooled together, an untapped wealth of information can be accessed. Unfortunately, all of this information is not for public access, placed away under layers of security, privacy and general lockdown since it holds data that has value for the manufacturer.
DataBroker DAO, Connecting Data Providers And Seekers
As a platform to sell IoT sensor data, DataBroker DAO allows IoT owners to sell their data on their platform to organizations that acquire, refine and use the data for various purposes. With IoT devices in every imaginable sector of industry, infrastructure and field of work, the data generated by these devices is huge and very much valuable. Taking one single device as an example shows the worth of the data collected and when enriched and processed, will have applications that were not even thought of before by the manufacturers and users.
A GPS sensor in a vehicle, connected online and gathering information about the whereabouts of the car holds only one kind of value to an insurance company that uses it as a tracker for theft purposes. However, to a city government, hundreds of thousands of GPS enabled vehicles in the city gives a wealth of information such as rush hour movement and general traffic load, average vehicle speed in different areas to better develop road infrastructure, enforce rules such as restricted entry in overloaded areas during specific times of the day, traffic signal coordination and much more.
With DataBroker DAO, the insurance company can set its data for sale on the platform and organizations such as the city government can purchase it for their use. The scope for data from other devices is huge. From academics, environmental engineering and utility power management to banking, retail sales and artificial intelligence development, every kind of data will find use.
Decentralized Platform For Data Exchange
As a Blockchain based platform, DataBroker ensures that the data traded will be done in an open and transparent manner. DataBroker will have no stake or commission in the proceeds of trades (apart from a minor transaction fee) and allows data providers and seekers to connect directly, cutting down on costs. Harnessing the security of Blockchain, the platform also provides an assurance that parties not involved in the trade of data will not be able to forcefully access it for their own purposes.
Initial Token Distribution Of DTX
The DataBroker platform allows monetization of data through its Ethereum based, ERC20 standard token, the DTX. A highly secure token, it is designed to be efficient and fast. The platform is starting an initial token distribution event on 19th March, with a trading ratio of 1 ETH = 6,000 DXT. The main event will launch on the 26th of March, where the value will be increased with 1 ETH getting 4,000 DTX. A minimum of 10 ETH is required for participating in the events.
For more information on IoT Data trading, visit their website:https://databrokerdao.com/