Tim O' Berly:
We are entering a new world in which data may become more valuable than the software.
Data is becoming the new crude oil. These days real information is worth more than gold.
With the evolution of technology, almost everyone has an internet enabled mobile phone, and with constant surfing of the net, we spontaneously create loads of data: every webpage accessed, collects data without our control.
This collected data is sold to big companies, who pay huge sums to employ this data in structuring their products and services based on the derivations of that data.
It is important to note that the control of our data was not taken without our consent, we handed it over, ignorantly on a platter of Gold.
For instance, when registering on a social media, out of excitement to get started, we check that little box, YES!
The very box that asks us to agree to the terms and conditions of service. This we always oblige to, without actually reading what these terms truly are. Officially signing off to these mega social media companies the power to collect our data and sell them to make profits without our consents.
This totally buttressed Andrew Lewis' quote:
If you are not paying the product, you are the product.
In case you are in the dark, as to the components of that data: it comprises of your personal information, home address, pictures, passport information etc.
All these little pieces of information are a jigsaw puzzle that gives a full picture of you when thrown together. This data clearly defines who you are, in order words it is an expression of who you are digitally.
In case you do not see a need to take back this information that rightfully belongs to you, it might be revelatory for you to know that,
Your Personal data is worth, $2000 dollars a year.
IMAGINE THAT! JUST IMAGINE!!!
Datum is a blockchain that allows owners of data to secure their data and allows them to sell and dictate the terms of the usage of that data.
Datum ensures that these mega companies have legal access to data, based on terms and conditions of the owner.
Datum also grants anyone that has access to its ecosystem, the power to store data in an organised manner.
Datum employs its DAT Smart tokens to ensure that control over the data is decentralized: this guarantees selling, buying and usage of data based on the permission of the data owner.
These DAT tokens also ensures that owners of data receive value for deciding to share their information.
Datum further ensures that the trading of data within its ecosystem is based on the predetermined rules set by the owner of the data in compliance with the regulations of Datum ecosystem.
1.Users
This virtually anyone who accesses datums blockchain with a need to have more control over their data.
2.Storage Nodes
This provides storage space on the blockchain for interested users and computing power.
3.Data Consumers
Comprises of companies, researchers or whoever it is that wishes to obtain data from users of the blockchain.
4.DAT Token Holders.
Regulates the Datum ecosystem and promotes an environment that facilitates transactions between Users and Data Consumers.
Data is submitted by the user. This data is encrypted on entry to the system in accordance to datums specifications but based on the laws defined by the owner.
The encrypted data is saved by storage node miners. This storage nodes that make storage possible earn DAT tokens for ensuring storage space.
Data is sold to buyers only after the buyers agree to the terms of the sellers.
Trading and Exchange is initiated by a smart contract, which also ensures the release of data.
At the end of all agreement, DAT Token from the buyer is transferred to the owner of data, and data is released to the buyer.
DAT Token smart contract ensures the data is used according to the terms of the owner.
Datum mobile app otherwise known as Datum Client would empower users to keep track of who and where their data is sent.
It also enables users to be flexible and open ended to Consumers seeking data for helpful societal and humanitarian projects.
John suffered a very rare case of leukemia at the age of 12.
After a long battle, he finally is free from the constraints of that condition, after being declared hail and hearty by a medical practitioner.
John requires all his medical records from the medical institution and stashes them on the Datum blockchain.
Soon enough a research institution is in need of medical records to ascertain a project and laboratory tests, John is presented with the opportunity to sell his medical reports to them in exchange for DAT Tokens.
The days of ignorance are over, data is becoming richly sought by businesses and researchers. It is therefore necessary that the generators, who are the rightful owners of these data reap the enormous benefits that comes with selling this data.
Datum is the bail out plan and must be embraced with both hands, if we must take back what rightfully belongs to us.
For more information, watch this video:
“DISCLAIMER: This article was created in exchange for a potential token reward through Bounty0x"
Author's name: godwinzzyzx
BountyOx username: godwinfyoung
Twitter username: godwinfyoung
