Decentralization and use of smart contracts brought by blockchain technology have made it possible for developers to create amazing projects where users will be the masters of their personal data; all these projects are in a bid to solve issues in the world today.
Different innovations have created ways by which Individuals can enjoy their day to day activities, one of such innovations is the social media networks.
Yes, social media networks have succeeded in bringing a unique way where users will have the opportunity to interact with one another irrespective of their location anywhere in the world.
Advancements in technologies have made life so easier that, in most websites, instead of creating an account, users only need to register or log in with any social media accounts, this is convenient but yet exposes users data to the website owners in particular. On the other hand, social media networks collect users information, monetize it and sell it off to interested parties at a high price while the data owner gains nothing, even in most cases prone to fraudulent activities which might be carried out with their information.
But what if the data owners can have control of their data? What if they can monetize it thus earning by sharing their data?
These questions are answered or rather made possible by a platform known as Datum.
WHAT IS DATUM ALL ABOUT?
Datum is a decentralized blockchain platform powered by smart contracts. Datum aims to create a platform where users will have the opportunity to store their data be it from any platform whether social media networks, IoT (Internet of Things) devices etc.
The most amazing thing is, the stored data is done in an anonymous and encrypted manner.
Datum also aims to ensure that users can freely release their personal data online at the same time having control over it, setting the terms and who to share it with.
Users data is highly sorted by organizations as it enables them most adequately develop their products and services.
A Study has shown that by 2020 the personal data economy will reach $120 billion, and as such in order to make it possible for users to be part of the benefits, Datum removes the middlemen, therefore empowering users to sell data directly to companies in need of it.
When users sell their data to interested parties, they are paid with the platform's token DAT.
DATUM ECOSYSTEM
Datum aims to create a data marketplace where users can share or sell their data on their own terms.
The ecosystem works closely with smart contracts powered by DAT token thus ensuring users securely sell their data while the set terms are adhered to and upheld by smart contracts.
Features Of Datum Ecosystem;
- Datum offers a decentralized data storage based on the blockchain.
- Users can securely store their data in an anonymous and encrypted manner made possible by Datum's data storage nodes.
- Datum's storage Node is run by miners who are incentivized for making it possible for users to store as well as accessing Datum's data marketplace easily.
- Datum makes it possible for users or data owners to effortlessly sell their data to trusted and reliable organizations.
CONCLUSION
Datum aims to present a platform where users will have the power to own their data, with this power, they can decide how to share their data at the same time charging a fee for it.
Datum understood the importance of data security thus setting in tools which will ensure all stored data is duly protected. All transactions occurring between users and data purchasers are carried out with DAT token.
DAT is the token of Datum ecosystem with a maximum supply of 3 billion. DAT is an ERC20 token based on the prominent Ethereum blockchain.
USEFUL LINKS
Telegram Group: https://t.me/datumnetwork
Twitter: https://twitter.com/datumnetwork
Facebook: https://www.facebook.com/datumnetwork/
Website: https://datum.org
Whitepaper: https://datum.org/assets/Datum-WhitePaper.pdf
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