DATAREUM: The Decentralized Data Market

DATAREUM: The Decentralized Data Market | Ecency

Users are seen paying to their online-data mainly because of the use of the free internet. Also, it helps them in getting free services. The largest companies, like Google and Yandex, firstly synchronize information from many sources, to get more accurate user preferences. Then they collect information about users which is used to analyze and sell to create advertising. Their data is the economic asset where they get to create a combination of fundamental identity, and it includes location, gender, age; you get to read their behaviors that include interests, opinions, the relations and you get your transaction purchases. They register data permanently when registered for multiple services.

Also, it shows the ongoing when users subscribe to different pages or when they click likes. Then, information gets generated, but unfortunately, they don’t own it, and they don’t get perfectly what they want. At such times, you can get a benefit to earn lots of money which is understandable for the users, more precisely with the shown advertising. So, there is Facebook who offers users pre-paid stories, proceeding from pages to the pleasant information in the profile. Insurance companies are the one who use data aggregations to help it build pricing models of new customers that are mainly based on the perceived willingness of customers to pay. They can change their pricing anytime they feel urgency.

Benefits of the Datareum platform

The principal advantage of the Datareum platform is the possibility that helps in controlling data which are collectible only by the permission of data providers. Providers are the one who decides if it is ready to offer charge which is free and which one is considered for selling. Data providers receive DTN continuously because such information they provide can be resold. Use of blockchain provides the highest level of warehousing data by storing the data, not in a centralized location, but rather it is distributed network that guarantees the invariance in information.

How does it work?

• The applicant publisher’s surveys that are done with specifying of target data, like age, location, gender, salary, etc. The applicant can save the DTN tokens in escrow, for further payment to providers to give them the response to the survey.

• Conditions to survey are the only conditions of the smart contract when you are looking for the market of data. Providers, conduct the way to survey and to get it entered into the market of data

• Results are mainly data that are retrieved and analyzed according to rules of smart contract, and it transfers in requests or deviates. In any condition, it is best if payment is transferred from escrow to another data provider.

• Due to DTN exempted from escrow, Datareum network gets paid by the small commission.

This is how it works.

Thanks to the best known decentralized marketplace Datareum that is known for monetizing users data that helps in selling it directly to market investors and researchers, academic researchers, and any other interested party. The most important part of this stage is they are transparent and provides each basic tool to help researchers of all types.

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