Hey Guys!!
Today, I would like to introduce you to quite a unique blockchain project that aims to protect you in ways you have never imagined before. So make sure you read this article to the end in order to learn about this awesome project.
Before we delve into this project, I would like to ask you some questions.
Have you ever been shown a Google ads that seems so targeted to your current needs and you’re like how does Google know that I need this thing?
Have ever opened your facebook and bombarded with ads that is so peculiar to your current needs?
Or perharps have you received some unsolicited text messages where you don’t know where they originated from?
If these questions look familiar to you, then chances are that your data has been leaked to some entities that are using this data without your authorization. This scenario has been on a rise for the last couple of years as social media continues to grow at a rapid rate. This is the reason why DATUM was birthed to give control back to users over their data and decide which information they would like to share and which information they want to keep private.
Not quite long there was a case involving Facebook and the Australian government where the Aussie government threatened to sue Facebook for data breach involving up to 87 million people worldwide including more than 300,000 in Australia which was harvested by Cambridge Analytica for research purposes. There have also been several cases involving large organizations who collects users data and uses it without proper permission from the owners of the data. People share data on the internet through social media and other sign up websites. This put these data in the hands of organizations which could tamper with it, sell it or do any other thing they want with these data.
Situations like this is what necessitated the establishment of a platform like DATUM.
Introducing DATUM - Securing Your Data With Blockchain Technology
Datum is a decentralized data store built on blockchain technology to collect and secure data using distributed ledger technology. The Datum network allows anyone to store structured data securely with the help of smart contract and blockchain. The Datum network also allows the owners of these data to monetize their data with the help of the DAT tokens but do this with maximum respect to data owner’s terms and conditions. With the help of the distributed ledger technology, Datum also provides entities such as researchers, organizations or even individuals with access to first-hand data on the Datum network.
So basically, Datum is like an online data marketplace that brings owners and users of data together in a mutually beneficiary arrangement. But unlike the current data market structure which doesn’t compensate the owners of these data adequately, the Datum network ensures that data are owned first and foremost by their creators who can then decide to give out these data in exchange for a reward and the Datum network makes this extremely convenient with the help of the DAT token which is used as a means of transaction on the network
Value Propositions By Datum
Datum network is bringing something quite unique to the data market by offering an incentive for both data users and data customers on the network. Apart from providing a platform that protects user’s data with the help of smart contracts and distributed ledger technology, Datum provides the following incentives to data users:
Control of the use of data
The major aim of the Datum network is to return power back to the owners of data. Datum believes that creators of data should have control over their data and can decide whatever they want to do with their data whether they want to sell it, or share it or even destroy it. Datum has put in place several incentives that will facilitate the increased control of data by their owners. No longer will data be collected from people under restrictive licensing terms. Rather, these data will be owned and controlled by their owners who can do anything they want with it.
Secure and infinitely scalable data storage
The Datum network is built on the blockchain using distributed ledger technology. This means that data stored on this network are well secure and impossible to be compromised. So often we hear of data breach by organizations such Facebook, Google etc. Datum provides an impenetrable data storage facility with the help of distributed ledger technology and this facility is scalable which means the Datum network is capable of providing you with as much data storage as you may need.
Monetization of data
Another important value proposition that Datum is bringing to the market is the monetization of data feature. Not anymore will you be sharing data for free online. These data are being used by some organizations to make money while the owners of these data get nothing. Datum network allows you to monetize any data that you wish to monetize with the help of the DAT token which is used for transactions of the platform. You can create a smart contract to exchange your data for DAT tokens on the Datum network and this will be done in a very convenient manner.
Not only does the Datum network rewards the users of data on the network. It also rewards data customers with unbeatable advantages over what currently obtains in the data market. The following are the incentives that the Datum network provides for data customers:
Direct access to validated and verifiable data
Data is fast becoming the lifeblood of every business and the success or otherwise of any business out there depends on the quality of data that goes into planning. Enough data are available on the internet but the question is how many of them are real and quality data? The Datum network furnish data customers with access to data that has been validated and verified by its data validation mechanism which sieves fake data from the quality ones and ensures that customers get quality and verifiable data which they can use for research and planning purposes.
Lower costs by eliminating “data broker” middlemen
Another incentive that the Datum network provides for data customers is access to quality data at affordable prices. To get access to data from data brokers in the current data space cost a fortune and most of the time, the data are fake and unverifiable. But Datum network has come to the rescue of data customers by eliminating the need for these exploitative middlemen and replacing it with a platform that connects users and customers of data directly thereby bringing down the cost of getting data significantly.
Datum network is a very much needed platform in the current data market. Datum gives data owners total control over their data and help them to monetize it with the use of DAT tokens on the network. These data are also highly secured with the help of distributed ledger technology which ensures that the data stored on the network are kept from the prying eyes of hackers. Data customers are also provided with quality and verifiable data at affordable prices as Datum has been able to eliminate data brokers which act as middlemen by connecting owners and data customers directly.
The Team
The team consists of highly knowledgeable professionals who have extensive experience building large scale data processing and management systems. Datum network is based in Switzerland, Singapore, Hong Kong, and United States, giving Datum a truly global reach and vision.
Advisors
Roadmap
For more information on DATUM, please visit the following useful links:
Website: https://datum.org
Whitepaper: https://datum.org/assets/Datum-WhitePaper.pdf
Telegram: https://t.me/datumnetwork
Bounty0x Username: Folorunsho15
