Datareum is a decentralized marketplace that will enable individuals to monetize their personal data, selling it directly to market researchers, academic researchers, and other interested parties. Built on the Ethereum public blockchain, Datareum's platform will facilitate this peer»lo»peer transaction of sensitive personal information securely, without the risk of hacking. Using online surveys as a starting point for building the marketplace. Datareum will employ incentive mechanisms that, over the long-term, will ensure the availability of superior quality custom data, providing an indispensable tool for researchers of all kinds.
Operating largely behind the scenes, data brokering is a business that collects and stores personal information about consumers and sells it to organizations who require that data to design their marketing strategies. A 2014 US Federal Trade Commission report identified data brokers as companies that "obtain and share vast amounts of
consumer information, typically behind the scenes, without consumer knowledge,"
The data brokers collect this information from a variety of sources such as government records, browser cookies and credit/debit card transactions. Various data types associated with this market include consumer data, commercial data, scientific data, reaI-estate data and geo-Iocation data.
The Value of Data
Actually quantifying the true value ofdata is not easy because the applications for its use are rapidly evolving. But as an example we can see that in 2016 Microsoft acquired the online professional network LinkedIn for $26.2 billion. Globally, Linkedln had about 100 million active users per month prior to the acquisition. A simple calculation tells us that Microsoft paid about $260 per monthly active user ‘.
To a company seeking profit then, data has significant value. In 2013, analysts predicted that the ROI of investment in Big Data would increase from 50 cents per dollar invested at that time to $3.50 per dollar in three to five years' time 2. According to McKinsey Research, better use of data analytics by marketers can improve ROI by 10720% 3.
THE ECOSYSTEM RESELLING SURVEY DATA
Expanding upon the basic A requester, if they choose, may resell data. To do so, they initial use-case, Datareum simply enter data they’ve already paid for back into the creates an ecosystem that, data marketplace, setting whatever price they choose for as we shall see, the data‘ Another requester may then choose to buy the encompasses the flow of data. The proceeds for the sold data are split between the data, tokens, and goods reseller and the original data providers with the usual and services offered by commission extracted into the Datareum fund. In this way, requesters through the the original data requester thus subsidizes and potentially selling of vouchers. even profits from the data they have commissioned The data providers meanwhile are compensated for any additional sales. Note that only original data that has been commissioned within the platform can be resold to additional requesters (data cannot be brought in from outside the platform and offered for sale within it)‘
Market for Goods and Services
Offered by Requesters
Requesters, \fthey choose, may offer gocds and servwces m exchange for DTN. For example, \f 100 DTN : $100 a requester may offer to purchase 75 DTN ($75) from a provider m exchange for a product that is normafly sold for $100. Thus makes sense for the provnder \f they are In need ofthe product bemg offered because they’H get 1t a dlscount. 1t a‘so makes sense for the requester because they can guarantee that a portian of money spent on research \5.
platform
Refer other users
Data providers whose referred users complete
at least 1 survey can earn bonus tokens
Voucher Marketplace
DATAREUM'S PROFIT MODEL
Wntten lnto all smart contracts on the data marketplace IS a transactlon fee taken whenever there ls a successful trade of data for DTN. Thls transactlon feere presents Datareum's prlnclple method of profit from the Infrastructure lt IS creatlng. Whlle lt is not lost on Datareum that it lS, m [hlS regard actlng as an lntermediary, the essentlal difference l5 thatthe network envwsloned is dlstributed and decentralized. Datareum does not maintain centralized servers of sensitlve mformatlon but mstead merely builds the infrastructure for a decentralized data marketplace. As such, the Intermediary fee can be vastly reduced ln comparlson to legacy platforms.
Website | https://datareum.net
Telegram| https://t.me/datareum
Twitter| https://twitter.com/datareum
Medium| https://medium.com/datareum
White Paper | https://www.datareum.net/whitepaper.pdf
ANN | https://bitcointalk.org/index.php?topic=3115745
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