A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Datafund, a protocol that guards personal data, provides safe storage and enables ethical data exchange has arrived.
Before I take you on this voyage, please check out this interview with co-founder Gregor Zavcer
Now that I have your attention, let’s get right to it.
What exactly is Datafund?
Datafund is a protocol that guards personal data, provides safe storage and enables ethical data exchange. Individuals create their own datafund to reclaim, own and manage their data.
Pretty innovative huh?
Again, Datafund is a new form of personal data oracle and a data market where organizations are incentivised to give data back to individuals and to participate in a fair and ethical exchange of data value. Contributors to a specific datafund are rewarded with intrinsic tokens of a receiving datafund.
Vision
Everyone should have the power to control the flow of their data and manage the value thereof while co-creating the common data heritage of all mankind.
Problem and Solution
Companies use personal data in a legal, fair and ethical* way.
Only the data that wants to be free, becomes free.
Partnership with individuals creates new revenues for enterprises.
Individuals reclaim, own and manage their personal data.
No shady middlemen, no hidden oversight, just transparency.
How Datafund Works?
The Breakdown — Step by Step
DATAFUND AND BLOCKCHAIN TECHNOLOGY
Datafund embraces this vision of the future with a strong belief that blockchain is the technology that is the enabler of the grand GDPR vision — citizens should have control over their data. Applying blockchain technology allows for creation of an “individual-centric” process that allows for unprecedented economic efficiency for all parties involved. Datafund protocol is built on Ethereum and Swarm with the intent to be blockchain and technology agnostic as much as needed. Datafund protocol is GDPR (the General Data Protection Regulation) compliant, we estimate that other jurisdictions are quite easy to legally satisfy. We use blockchain technologies to implement an economically viable solution to the challenge of a comprehensive control on how each piece of personal data, combined with the consent for its use, is being used and transacted between multiple parties, independent of the actual location of data storage. Through blockchain, we will implement an effective rewarding system for the use of data and related services, based on real market value. Personal data management solutions where individuals directly control the storage of and access to their data with a private key will be a complementary offering.
You can get Whitelisted here; https://whitelist.datafund.io/index.html?refId=bqxoRr6D&refCode=ATSLfvCkQ4J5kyfvWkN2d3&refType=ds
Datafund proffers solutions to existing problems. These solutions are;
Companies will use personal data in a legal, fair and ethical* way.
Only the data that wants to be free, becomes free.
Partnership with individuals creates new revenues for enterprises.
Individuals reclaim, own and manage their personal data.
No shady middlemen, no hidden oversight, just transparency.
Today, we have consumers with no rights or who are not aware of their rights, sometimes with some data on one side, while on the other side are corporations and digital services that have enormous quantities of (personal) data and almost no rights to use them. Many global services and applications based on personal data today are using data in a way they should not. On top of that, efficiency without sacrificing transparency can be drastically improved.
At Datafund, we believe that the whole economy of personal data will develop around three primary entities — data owners, data users and service providers. Any player in the personal data ecosystem is a variant of one of these three entities.
Data owners as individuals (the GDPR calls us data subjects), primarily consumers who provide the raw material — the data about them — to companies and other organisations. Not only that access to data should be fully in the control of data owners, we also advocate that data owners are entitled to receive a legitimate reward for their data that is commercially exploited.
Data users are primarily commercial companies that use data collected about us to try to create and offer better products and services to us consumers. Or, data users are companies that acquire and enrich the data to resell it to other data users (always respecting the data owners’ consents). Whichever way, data users should in our view reward consumers for the data they receive and commercially exploit while fully complying with data protection legislation and the agreed purpose of use.
Service Providers are the numerous companies offering services to both the data owners and data users with a focus on personal data management, e.g. wallet, storage, marketplace, analytics, research, quality, valuation, … In order to offer these services they are mostly dependent on an appropriate access to the data that the data users hold and the data owners control.
TOKEN DETAILS
Datafund will create a DEX token which is an ERC777 token (also ERC20 compatible token) and acts as a non-security consumer token.
Hard cap (Manage milestone): 20,000 ETH
Soft cap (Reclaim milestone): 3,000 ETH
Emitted tokens (incl. Seed and bonus): 40%
Rate: 50,000 DEX for 1 ETH
You can get Whitelisted here; https://whitelist.datafund.io/index.html?refId=bqxoRr6D&refCode=ATSLfvCkQ4J5kyfvWkN2d3&refType=ds
Distribution of tokens
Use of funds
ROADMAP AND DEVELOPMENT PERSPECTIVE
Above you can see the roadmap — how the team sees their nearest and long-term future.
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field.
Datafund is a protocol that guards personal data, provides safe storage and enables ethical data exchange. Individuals create their own datafund to reclaim, own and manage their data. Everyone should have the power to control the flow of their data and manage the value thereof while co-creating the common data heritage of all mankind. You can be a part of this tremendous project and follow these links for more information;
Website: https://datafund.io/
Whitepaper: https://docs.google.com/document/d/1PzfN5lPzzYA_c72KNkq3-568NBluF12U63HQPH2bPsM/edit#
Twitter: https://twitter.com/DataFundProject
Telegram: https://t.me/DataFund
Medium: https://blog.datafund.net/
LinkedIn: https://www.linkedin.com/company/datafund
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Мое имя пользователя Bitcointalk: Folensplet
Мой профиль Bitcointalk: https://bitcointalk.org/ index.php? action = profile; u = 2132338
Мой ERC-20 ETH: 0x1Cbc85B722Af992615913f9a7bA7a5EB6A3d6745
Моя телеграмма: @ Alexandrovich19
Моя почта: [email protected]
Имя пользователя Bounty0x : stark
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.
