The Datum network allows anyone to store structured data securely in a decentralized way on a smart contract blockchain.
This is the project that allows users to take back their personal data. Let's say you surf the internet and every page you are on collects your data. You do not control the collection of your data. Datum provides a marketplace where users can share or sell their data on their own terms. This technology allows anyone to backup structured data like social network data, in a secure, private and anonymous manner.
The primary goal at Datum is to provide a useful data marketplace that is extremely valuable to token holders. Based in prominent technology-forward countries like Hong Kong, Singapore, and Switzerland, the team has a total of eight decades of combined experience in developing viable data processing and management systems. Founded by Gebhard Scherrer, Roger Haenni, and Gebhard Scherrer, the company plans to introduce the Datum Main Network to public in 2018.
What is Datum
Datum is building the stock market for user & device data. Supported by a blockchain ledger, Datum is commonly known as a decentralized data store that collects secure, anonymous, and private structured data. Data is often referred to as the new oil; as a result, Datum recognizes the need to convert data into exchangeable commodities. Some examples of information that users can store on the Datum network include structured data from social networks, smart home, wearables, and other internet of things devices. Datum offers its users a secure platform where they can share or sell their information to select entities anonymously.
Datum Marketplace
The process of buying and selling data through the marketplace is quite simple. After the user submits his data, the information is then concealed according to the usage terms set forth by Datum. The second step in the process is that the storage node miners save the data. These storage nodes will eventually be rewarded DAT tokens. When a buyer purchases data with DAT tokens, the information is then released to the customer as soon as the smart contract initiates the off-chain key exchange. The buyer acquisition process is complete when the DAT tokens are paid to the data owner. The success of this secure exchange of data is the direct result of the Datum's network reliance on the DAT token smart contract.
Datum Mobile App
Instead of relying on complicated interfaces to store information and complete secure data exchanges, Datum has launched a simple and user-friendly mobile app for such trading of data. There are many advantages to exchanging information through this trusted application. The app's storage nodes prompt quick backup along with fast retrieval of data. Once the data has been submitted, the information is encrypted and cleaned from personally identifying information. By using the revolutionary Datum application, users are provided the opportunity to share their information with non-profit entities like trusted researchers. One of the most important perks of using the app is that users can choose to provide their anonymized data to trusted entities in exchange for DAT tokens. The application's easy-to-use interface promotes a hassle-free trade of information for its users.
CONCLUSION
Datum network is creating awareness on sharing your data and when other big companies are selling your data as if it is as their own data, it helps to share which type of data you want to share and also you can monetize from it.
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"
