Data is as important as any other resource in any business. The importance of quality data cannot be overemphasized in the success of any organization. Every day, people share data on different media which are used to carry out researches in order to make informed decisions by organizations. But the issue is that there exist lots of fake data which could be harmful when used to make decisions. Many of the data we share on the internet through social media and other platforms are being used to pop up tailor-made ads to our timelines.
Sharing data online comes so easy and natural to most of us and we can easily pick up our phones and share images, videos and personal information about us freely on the internet. These platforms on which we have shared these data collects them and in turn uses them for business purposes by offering them to data customers at a price. Many individuals and organizations alike require data for different purposes such as research; forecast etc. and they contact these platforms to get the data that they require.
If I told you that there is a platform on which you can share your data and earn yourself some cool cash while having the peace of mind that your data are well protected and secured, would you believe it?
Well, that is absolutely correct. I want to talk about the DATUM platform which protects your data from being compromised by hackers while at the same time giving you the freedom to monetize your data and earn money by sharing some information on the internet.
DATUM – Helping You To Monetize Your Data in a Secured Environment
Datum is a decentralized data market place built on the blockchain which aims to help owners of data monetize their data while also giving them full control over their data. This platform seeks to break the monopoly of data brokers by connecting data customers with owners of the data on the Datum network which is fully secured with distributed ledger technology. The Datum is a marketplace where data owners can put up their data up for sale in exchange for DAT tokens on the Datum network. The DAT tokens helps to tokenize the users data on this platform and data customers can get their desired data for a specified amount of DAT tokens equivalent in value to the data obtained. This helps users of data to monetize their data in a secure and safe environment without the need for data brokers.
How Datum Ecosystem Works
Step 1:
The user is expected to submit his or her data to the Datum Network with the help of the client software. There is a fee in form of gas attached to the submission of data to the Datum network. This data is then encrypted on the network with only the user having access to the decryption key of this piece of data.
Step 2:
A storage node on the Datum network receives this piece of data and stores it. The data is then distributed to many other storage nodes so as to avoid a case of data breach. This activity ensures maximum security of the data stored on the Datum network.
Step 3:
A data consumer comes with an offer to buy this piece of data.
Step 4:
The user is then notified of a purchase request stating the details of the offer such as the price being offered; the person who’s trying to buy the data etc. The user can decide to agree with the terms of the offer or send a counter offer if he’s not satisfied with the terms proposed.
Step 5:
If the user eventually accepts the purchase offer, he’ll receive DAT tokens in return for the piece of data and then the decryption key will be sent to the data customer who pays with DAT tokens.
These are simple steps that Datum has implemented to help anybody from any part of the world monetize his or data online. The network is fully secured with blockchain technology and data customers gets quality and verifiable data. The Datum platform provides a win-win situation for both users of data and data customers thereby increasing te overall efficiency of the data sharing industry.
The Team
The team consists of highly knowledgeable professionals who have extensive experience building large scale data processing and management systems. Datum network is based in Switzerland, Singapore, Hong Kong, and United States, giving Datum a truly global reach and vision.
Roadmap
For more information on DATUM, please visit the following useful links:
Website: https://datum.org
Whitepaper: https://datum.org/assets/Datum-WhitePaper.pdf
Telegram: https://t.me/datumnetwork
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