How many of you think that Data is the New Oil? Surprised, the debate is still ongoing whether data can command the same position as Oil used to have in the past century and it is highly likely it will. It has become a strategic asset for corporations of today to maintain their competitive edge. With every passing minute, billions of Gigabytes of data gets generated worldwide through uploading personal files, videos, shopping online, surfing social networking sites, connected IoT devices etc. But the irony is that the generators of this data lose control once they share it on servers of centralized web giants such as Google, Apple, facebook, Instagram etc, who stores this data in silos and for their business interest. It would not be wrong to quote that these companies know more about us and about our daily routines than our souls.
Datum has come up with unique proposition to tackle this problem and decentralize the data once again by reclaiming the control back to the data originators. It aims to leverage the Inter-Planetary File Storage mechanism and provide an infinitely scalable data storage back-end through creation of secure smart contract based blockchain. Datum is all set to disrupt this data space by providing better value to the data creators than the data brokers. The creators will benefit by using the Datum network for storing their data as well as monetizing it for some value, if they feel like doing so. Datum is, thus, a decentralized and distributed high performance NoSQL database, which is backed by a blockchain ledger.
Image Source: Datum Twitter Account Post
With almost 90k+ App users worldwide and Test Network released, the Mainnet will be released before end of Q3-2018. By turning data into tradable commodities, Datum is poised to create a global data exchange and it will be the users who will define the terms, whether to trade data for a fee or for free. Any structured data in the form of text or numbers, and which is analyzable can be traded on the Datum network. It is set to benefit not only individuals but also enterprises, who wish to use this network. Every enterprise is already sitting on huge chunk of data with little knowledge on monetizing it. Inching towards the successful full release in the coming month, this Zug-based Swiss company is set to launch a new brand identity along with well thought marketing campaign for maximizing its reach.
Image Source: Datum Website
DAT token (ERC-20 compliant) will be used for all transactions in Datum ecosystem. Under Datum network, fees will be paid to store data, to access stored data and rewards are paid for submitting data. All data sent on the network is anonymized, encrypted under usage terms before transmitting to the network. The token sale for DAT tokens was held successfully during last quarter of year 2017. Now, the tokens are traded on prominent crypto-exchanges across the world. The circulating supply is 905 million tokens out of total supply of 2.653 billion. The team is led by a successful serial entrepreneur Roger Haenni and he founded the company in Jun-2017 after developing and testing the proof of concept. It is truly a win-win project for all users who want to benefit from transparent and democratic data marketplace.
Further details on this promising project can be checked at the following links:
Official Website: https://datum.org/
Whitepaper: https://datum.org/assets/Datum-WhitePaper.pdf
Project Telegram: https://t.me/datumnetwork
Download Datum App: https://app.datum.org/
Follow me on my Twitter https://twitter.com/mittal2a
Follow me on my LinkedIn Profile https://linkedin.com/in/abishekmittal
Disclaimer: This article was created in exchange for a potential token reward through Bounty0x (Username: mittal2a), which may be granted on acceptance of this article.
** This should not be treated as explicit financial, trading or otherwise investment advice. Please do your own detailed research and due diligence before final investing.**