DATUM has a lot of potential for changing lives across the globe. The concept of companies paying us for information about our lives/decisions is extremely intriguing. I’m very interested in getting involved.
Datum intend to offer clients the opportunity to retake control of their information as opposed to offering it to organizations who at that point make a benefit from offering it. The stage will likewise offer a commercial center which enables clients themselves to offer their information and removes the mediator.
What's the issue with the present market?
Numerous organizations offer 'free' administrations, anyway they at that point profit from offering your information. Amusingly the main individual who for the most part doesn't benefit from this deal is simply the client. The cost of purchasing a people information can differ from around $1 to $100s.
Organizations, for example, Facebook or Google gather your information which at that point enables organizations to purchase advertisements with them and after that objective their promotions at you all the more successfully.
Datum intends to enable clients to benefit from their information themselves by offering it specifically to organizations on the new decentralized stage.
The Datum Solution
The Ecosystem
The Datum network relies on the DAT Token Smart Contract to provide secure trading of data while respecting the terms set out by data owners.
1. Users submit data
by connecting different services to the platform, paying a small DAT token fee to store it in the network.
Data is encrypted under usage terms, anonymized and sent to the network.
2. Storage node miners
save and transmit the encrypted data, earning DAT tokens for it.
Smart contract initiates off-chain key exchange to release data under data owner's terms.
3. Buyers acquire data
in exchange for DAT tokens that are payed back to the data owners.
Email Receipts
With users permission, the Datum App can extract digital receipts from popular hosted email accounts. This data can be used by researchers including manufacturers, advertisers, financial analysts and hedge funds. For example, predict the true demand for the next iPhone by analyzing Apple Store pre-order confirmation emails, their frequency and velocity.
Financial Data
With user permission, the Datum App can extract check card and credit card transaction data from multi-national banks and credit unions. This data can be used by advertisers and research providers to offer higher quality data on consumer purchasing habits versus self-reported surveys. For example, a research team asking, how much you spent on groceries last month, can get the actual number, method of payment, preferred grocery chain and most recent visit.
Household Device Graphing
With user permission, the Datum App can construct an accurate device graph for a household including shared devices and devices used for work versus personal activities. This enables advertisers to better understand who uses which devices in a given household and how to deliver messages across devices and day-parts.
KYC Document Storage
For KYC providers, decentralized storage of government documents i.e. Passports and Drivers Licenses is the most appropriate method for securing sensitive data and ensuring that user’s remain in control of their most sensitive identity related data. This enables users to import their identity documents across multiple KYC providers without having to worry about having their data being exposed in a data breach.
Tokenizing Consumer Data for Enterprise
For enterprises, “big data” is often likened to nuclear waste. Everybody has it, nobody knows what to do with it. By providing legacy enterprises with a way to earn revenue in the form of DAT tokens, drive engagement in their platform, while also securing their customer’s data the Datum network creates a win-win-win for enterprises who handle large amounts of customer data.
If you consider for a moment the fact that 90% of today's data was created in the last 2 years, you will realize the importance of data in today's world. Data analytics is big business and almost nothing trickles down to the data creators in the present scenario. With the adoption of blockchain technologies, this is changing - we are moving towards decentralization of identity data, cloud storage and even personal data which is kept securely and under control of the creators. The value is passed on to the creators. So far, a big achievement for the Datum team is to successfully bring onboard 90k+ users in a relatively short period of time.
Website: https://tokensale.datum.org
Whitepaper: https://tokensale.datum.org/assets/Datum-WhitePaper.pdf
BountyOx Prof - zberik
"This article was created in exchange for a potential token reward through Bounty0x"
