The Datareum ICO pre sale is scheduled to start in just 3 days.

The market for high quality data is huge with companies being willing to spend vast amounts of money to get the information that they want for whatever purpose that may be. However, the data market has long been seen with a less than favorable light and people are often rather wary about their data and how it is being protected. After all, we hardly need to look far to find various news reports where these kinds of companies have had their servers breached.

With those kinds of issues, people are right to be nervous, and perhaps switching to using blockchain technology is going to prove to be quite a cool idea. That is where this new project come into play, but we need to look at them more closely to form a better idea of exactly what it is that they plan on offering.

What is Datareum?

The focus for the new platform is to offer what they see as being high-quality data to the marketplace, but using cryptocurrency and the power of the blockchain to their advantage. They are seeking to offer a decentralized marketplace where the owners of the data, which means each individual, is then able to make money from providing access to companies while also deciding what should be made available, and to who.

Basically, the individual can sell their data to research companies or anybody that they wish, and it is all achieved via a peer-to-peer approach. However, we need to stress that this is not the only company that is offering this kind of product via the blockchain, but that’s not to say that they will not be worthy of you exploring their services a bit further on your own.

The Technical Aspect.

As we said, they are taking a decentralized approach and they are building their entire platform on the Ethereum blockchain.

The individual decides on the information that they are willing to place on the blockchain and what is to be made available to different people. A company, or individual, that requires that information can search for those that have something to provide to them and also what they are seeking from a compensation point of view.

It is at that point that a Smart Contract is created that shows the company has the tokens available for the information and that the information will be released to them upon completion of the transaction. In other words, the individual is in full control of what is going on and they know exactly who is getting access to their information and also what that information is going to be.

This is going to take full advantage of the transparency of the blockchain while, at the same time, it also uses the anonymity aspect, but those are not the only clear advantages associated with Datareum.

The Advantages of Datareum

The best way to look at what is on offer here is that it is basically a very simple exchange between someone providing data and a party that seeks to purchase it. Also, there is nothing complex about it from a technical point of view as there are a number of other companies offering the same thing on the blockchain. However, we still need to point out the advantages that come along with what Datareum are offering you.

First, there is the security aspect, and by that we mean the fact that the data is held via a decentralized network. That means that there is no central database where all of the information is held remotely that is then open to attack. People are in more control over their data without having to worry to the same extent as they were before.

Also, by being in control, it gives you the right to pick and choose who gets your data whereas before it was all handled by a third-party and you had no idea what was going on. Earning money via cryptocurrency is just an added bonus considering this is another area where there was a tendency to miss out.

So, the main advantages is the control aspect, the security aspect, and the monetary aspect, and they are all very easy things to implement.

The Financial Aspect and the ICO

For the financial side of things, then they are stating they will only accept ETH as the currency when it comes to investing in the ICO. Also, if you are in the United States, then you are unable to take part due to various restrictions. Furthermore, there is a minimum investment amount which has been set at 1 ETH, so that could put off some people from getting involved.

The company have also set both a soft and hard cap for the ICO. The soft cap has been placed at a rather modest $500,000 whereas the hard cap is at a higher figure of $18,000,000 which is still not a huge figure compared to other offerings out there.

Also, they will be offering 600,000,000 tokens during the ICO which equates to 60% of the total minted. The exchange rate for this period of time has been set at 1 DTN equating to $0.03 giving an indication of their aims for the product.

Conclusion About the Datareum ICO

Datareum is not the only company to offer this particular product, but that should not put you off potentially investing in the ICO as there is more than enough data out there to go around everyone. However, they do need to spend a considerable amount of money and effort in getting people to join their platform and that is where the difficulty is going to be found. If they can counteract this issue, then there is a good chance that they will be able to establish themselves within this ever growing market.
The team behind the project seems to be solid so they stand just as good chance as any of pulling it off.

Also, the minimum investment could put some people off, but the entire basic idea of the project is sound and functional so the potential is there which means you could look forward to making money on your initial investment.

Website: https://www.datareum.net
Whitepaper: https://www.datareum.net/whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3189049
Profile: https://bitcointalk.org/index.php?action=profile;u=1153986

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