Welcome to The Cryptographer’s lair once again. Join me as we dig deep to decipher another brand new blockchain project!
Under the spotlight today is Datum, whose vision is incredibly important for all online users. Through their innovative blockchain-based solution, Datum is undertaking the battle to gain true control over users’ own data.
In Brief (the section for those too lazy, or busy, to read on)
Datum’s aim to empower users through controlling their own data is one which crosses the border into the realm of individual empowerment- with an impressive vision which is truly looking to make not only the present, but also the future, a brighter place for online users.
Essentially, Datum is a blockchain powered ecosystem which allows users to securely store personal data. This might sound like a simple concept, but the ramifications for personal empowerment are massive. Nowadays, users’ personalized data has become a free (and increasingly valuable) byproduct of activity as social networking sites like Facebook, Twitter and others enjoy unlimited access to users’ data which they happily exploit for profit. This is the price paid for using such ‘free’ platforms, and shockingly many users are not even aware of such relentless data use (and misuse).
Datum is taking a stand- by providing a secure and effective mechanism for the storage and optional monetisation of such personal data beforehand. When we are the true owner of our secured data, any sites or organizations wishing to have access to it must have our permission to do so- and under specific user set terms.
This is an incredibly important vision, which promises to address the power control imbalance between such ‘free’ services and their users, and a massive step towards overall individual empowerment.
Ah, the wonders of blockchain!
What are the specific problems Datum is looking to tackle?
Raw data is a surprisingly valuable asset in today’s economy, especially personalised data from a large base of users. Why is it surprising? Because people aren’t made aware of this fact. And why aren’t they made aware? One word: greed.
‘Free’ sites and online services, such as search engines, collect vast amounts of data regarding a user’s browsing habits and activities. Various organizations then acquire these pools of data from social media websites, for example, for hundreds of dollars per user. The price varies according to the social status of an individual and, of course, the amount of data available regarding that user.
These websites benefit greatly from the sale of such personal data (and have done since their inception), while nothing is given to the users that actually produce this data. Alongside the financial unfairness this brings, comes even more concerning uncertainties- this data might be being used anywhere, for any purpose, without the knowledge or consent or the originator, which could pose a very real threat to the originator of that data, as it may contain sensitive details which the owner may not want to share. The sad truth is- these personal wishes are not even heard, let alone respected by these giant corporations.
This mentality by big corporations of treating users like data-cows, to be milked at whim, is also exacerbating the wider problems of serious data misuse such as identity fraud. Identity fraud is a shockingly common problem in today’s world- a big part of the reason being that people are not taught to keep personal data secure, and even when security is attempted, current storage solutions for sensitive files or data are not sufficiently secure at a core level.
How does Datum intend to tackle these issues?
This is just a brief snapshot of Datum’s solution- I will shortly be releasing a dedicated follow-up analysis of the Datum platform itself, where we will delve deep into the value and benefits of the platform in our current corporate-ruled world.
(From the Datum website https://datum.org/)
The birth of Datum brings an end to the unauthorized use of user’s data, and provides the keys to the dawning of a new era of personal empowerment. Datum have built a blockchain powered platform which enables users to store sell or donate their data to whoever they want for any amount they wish to sell it for. People can now monetize their data as the valuable asset that it is, and can for the first time exercise total control in who accesses certain data, and for which uses.
Users decide the price per data set, and utilising blockchain-based payments in their DAT token means being able to transact without the involvement of third party or intermediary. Blockchain, of course, enables a high level of transparency within the system- with users even having the ability to see who has viewed their data, and the time the viewing occurred. As a blockchain powered platform, Datum is able to provide a superior level of security, transparency and efficiency. Only the user themselves can grant access to entities when they request personal data- security ensured through blockchain!
(From the Datum website https://datum.org/)
Meet the Team
Roger Haenni is the CEO of Datum, and is himself an impressive individual- Roger is a serial entrepreneur, and has over seventeen years of experience in important data systems. He has also co-founded four other platforms, so has had ample practical experience previous to Datum. Gebhard Scherrer is also a co-founder and heads the Operation and Sales Department. Gebhard also cofounded Gelid Thermal Solutions and Arctic Cooling. V C Tran, the head of Marketing at Datum, has an impressive record of experience in the field spanning ten years. Tevon Strand Brown and Luis Fernando Varela are the Blockchain Engineers who make Datum’s vision a technical reality.
More team information is found in the Datum white paper.
(From the Datum whitepaper https://datum.org/assets/Datum-WhitePaper.pdf)
The Cryptographer's Verdict
Recently, a notorious social media giant caused public outrage when it came to light that they had dishonestly sold user data affecting up to 87 million users. This event displayed the core of the problems twofold- firstly that these profit hungry corporate giants can NOT be trusted with our valuable personal data without abusing their place, and secondly (and more importantly in my view) is the fact that this outrage was so short lived- people were angry, but did they stop using the service? In the most part absolutely not. Has the corporation ceased its unethical activities? I’ll let you decide that for yourself. We cannot be passive about such important issues.
Datum is facilitating an active response. Datum’s innovative blockchain powered platform is providing the technical tools to be able to securely and effectively store and monetise our own data- thus helping to mitigate such data misuse by empowering users with blockchain-secured control over such information. In the process users can choose to profit from their valuable data, providing a potential income stream. Profiting from your own control- that certainly gets a thumbs up from me!
Stay tuned for more insight into Datum over the coming week, where we will be delving deeper into some critical aspects of this promising, and notably important, solution.
Read more about the Datum project at their website: https://datum.org/
and if you have any questions the best place to ask is their Telegram group: https://t.me/datumnetwork
Happy hunting!
Bounty0x: hartley4hire
PLEASE NOTE THIS IS NOT FINANCIAL ADVICE. YOU MUST ALWAYS DO YOUR OWN RESEARCH AS WELL AS READING OTHERS’ OPINIONS, ESPECIALLY IN THIS SPACE.