We are surrounded by smart objects all around us. From the fitness band on our arms to the television we use, everything has numerous sensors that collect data and the data collected is used to improve the existing services being offered.
However, once this data is used, there is very limited use of this data. Here is where DataBroker comes in.
DataBroker is an open-source ICO project that aims to combine Internet of Things with blockchain technology. DataBroker collects data from sensors present in all smart devices and provides it to the requestors who need the data.
Interestingly, the data collected by the sensor is now monetized which means that users can now earn money by the data collected by their smart devices. DataBroker aims at establishing a marketplace where anyone can buy and sell IOT sensor data.
The whole exchange of data is governed by a smart contract on the Ethereum platform which ensures that the data is sold at the right price. The mode of payment on their platform is the ERC20 token - DTX , which runs the whole system.
The DTX token is the backbone of the entire DataBroker marketplace. Users will need to pay using the DTX token for any data they want to purchase. Users can buy the DTX token at databrokerdao.com and store them on the DTX wallet as well as being able to buy data on their beta version marketplace.
Use Cases
The endless possibilities of IoT makes this venture a great success. The use cases of the platform are simply limitless.
Agriculture
There’s nothing more important than our food supply. But about a third of food produced is lost or wasted every year. Globally, that’s almost $1 trillion economic hit. Inefficiencies in planting, harvesting, water use and trucking, as well as uncertainty about weather, pests, and consumer demand contribute to the loss. Inadequate packaging and labeling can lead to waste and potentially life-threatening illness due to food-borne pathogens. These are problems desperately in need of solutions and many of those solutions can be found in technologies such as IoT.
Sensors on fields and crops are starting to provide literally granular data points on soil conditions, as well as detailed info on wind, fertilizer requirements, water availability and pest infestations. GPS units on tractors, combines and trucks can help determine optimal usage of heavy equipment. Data analytics can help prevent spoilage by moving products faster and more efficiently. Agricultural technology can also help farmers hedge against losses and even out cash flow. Bring in DataBroker and farmers can sell the data they acquire from the sensor that examines the soil. Additionally, they can also buy data related to the weather or soil fertility of a particular region. This can be a game changer in the agriculture sector.
Other Use Cases
Healthcare: Users can sell the data acquired from their fitness bands to the right people who can then analyse and provide better health care products in return.
Education: Educational institutions can provide the data acquired from the smart systems which can be used to develop interesting curriculum teaching methods.
Environmental studies: This will be one of the fields that will benefit the most from this project. Environmentalists can now acquire data from various weather and climate-related data from different regions. This will help to understand and control the effects our activities are having on the environment.
Closing thoughts
DataBroker DAO is a decentralized, open-source project that aims to create a universal marketplace for all IoT sensor data. With smart devices all around us, data collected by the sensors on these devices are used for a single purpose. With the introduction of DataBroker, this data can be used for a wider range of applications and help build a smarter and data driven future for all of us.
💻Token sale
Start April 26th
End May 26th, 2018 4PM CET
Token price - 1ETH = 4000 DTX
Bonus first day - 10%
Website - https://databrokerdao.com/
Telegram - https://t.me/databrokerdao
Whitepaper - https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf
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