Today, I will be talking about Dock.io. It is a decentralized professional data exchange protocol.
As always, my review is just a personal opinion & analysis and not investment advice.
The Dock.io protocol is a decentralized data exchange protocol for the professional industry. It lets people connect their profiles, reputations ratings and experiences across the web with privacy and security. The team wants to provide a solution for what they term “data hoarding” with current professional networks which have no incentive or disincentive to share your data with the competition. To do this, they will create a data exchange that will first integrate user profiles from different platforms including the work experience, education, location, contacts, qualifications and so on.
The dock.io protocol is a special purpose decentralized data exchange protocol. This protocol is intended to incentivize the exchange of work experience, reviews and professional connections, and can be expanded to include any type of shareable data. Applications will receive tokens for data exchange. Source
And second, they will incentivize data transactions and sharing while providing users complete control over their own data. Most people have a number of profiles online many of which may not have been updated in years resulting in inconsistent information. It is difficult for users to transfer their information across different platforms which could result in loss opportunities. When using centralized apps, users have little to no control over what is done with their data and who it may be shared with.
With Dock.io, they aim to solve all of these problems. Users will be able to synchronize all of their employment history and data in one location. Their information will be updated automatically as users update their information on other platforms. They will be able to control which data moves between different platforms with opt-ins and outs. In addition, all data will be fully encrypted and stored using the blockchain. The information can only be controlled by the user with the appropriate keys and decrypted only when willingly exchanged between parties. Reference
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The Dock.io protocol is extendable beyond apps and products that exist today. Some of the sample use cases include job marketplaces, networking apps, applicant tracking systems, HR management systems and education apps.
By utilizing the secure Ethereum mainchain, data encryption, as well as a token model, the
dock.io protocol will allow users to take control of their data and exchange it between
applications. The dock.io token model will simultaneously motivate applications to exchange
information by making it beneficial for both platforms involved in the transaction.
Both the users and the applications primary needs are met. Users get full control of their data and applications receive compensation for data exchange. Source
Dock.io promises to update your information from any website in the dock.io network and you can automatically transfer it to any other app you’re connected to. With this concept, you’ll never have to fill out different forms manually with the same information again.
Dock.io already has a working app in the alpha stage. According to the team, their database is truly growing by 3000 users everyday. There is no cost for individuals to use the app. It is free to create an account, upload your professional data and share it to various applications. You can earn tokens which the platform has designed to be a cryptocurrency by inviting other people, following social media accounts and promoting the app on different platforms. If you are interested you're welcome to check their app online at app.dock.io.
The project was launched last year and has already established partnerships with remote.com, Fundrequest and SmartRecruiters. Most of the team members actually worked with Remote before. All of these partnerships operate within the professional space, linking professionals directly and linking employers to potential employees, providing a decentralized way for professionals to work together.
Moving to the future, their roadmap is as follows:
In the first quarter 2018, they will release the Dock.io app. In the 2nd quarter, they will integrate with Remote.com with additional partners to join. In the remainder of the year, they will launch the network data exchange, allowing platforms to trade data for Dock tokens. The team will be raising funds by issuing Dock tokens at a conversion rate of 1 token for 6.7 cents. The hard cap is 20 million dollars or 30% of the total token supply. Assuming the hard cap is met, the maximum market cap on a fully diluted basis on the ICO date would be 67 million dollars.
Q1 2018 - Dock.io app release.
Q2 2018 - Remote.com partner integration, along with additional partners upcoming. This will allow data to be transferred between each platform.
Q3/4 2018 - Network Data Exchange launch, allowing platforms to trade data for DOCK tokens. Source
You can visit their white paper here: https://dock.io/whitepaper
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