As we have established from our previous four part analysis of DataBlockChain, our progression deeper into the information age means that big data is becoming big business; data collection, storage and utilisation are becoming more and more crucial to the effective daily operations of many businesses, organisations and individuals alike; however cracks are beginning to show in the problem-riddled space.
DataBlockChain are planning on becoming a disruptive force in the data space with their game-changing vision of revolutionising the industry using cutting edge AI and blockchain-based technologies. The benefits to data consumers in the way of efficiency, accessibility and reliability are abundantly clear, and the DataBlockChain team are utilising innovative tech such as their AI-powered Smart Indexing Engine.
But what about more on the key element everyone here is concerned about; Blockchain? What about their use of blockchain technologies for payment, and how do they make DataBlockChain a force for data disruption?
The DBCCoin Token (DBCC)
DataBlockChain’s decentralised solution is built on top of a blockchain base layer; utilising the Ethereum blockchain, along with its built in smart contracts capabilities, will allow DataBlockChain to deliver a consistently secure, transparent and efficient built-in payment solution.
The specific tokens to be used for transactions within the DataBlockChain ecosystem are DataBlockChain’s own native ERC20 tokens, DBCCoin (DBCC). Not only will payments utilising DBCC be more secure and efficient, but the whole transacting experience will be open in nature, courtesy of the blockchain’s inherent transparency characteristics. This means that every transaction can be easily audited and transactional history analysed at will.
As well as being utilised as a maximally secure and efficient payment solution, DBCC will also play another important role in the DataBlockChain ecosystem. DBCC will be used as an essential part of the marketing mechanism for the DataBlockChain platform, by incentivising partners through their Promotion Program and serving as the means by which payment is distributed through the Rewards Program.
All of these functionalities, as well as those relating to transaction processing, will be initiated utilising Ethereum’s smart contract technology to provide a secure and confident next-gen transaction experience.
DBCCoin Token Mechanism, taken from the DataBlockChain whitepaper: https://www.datablockchain.io/pdf/whitepaper.pdf
Overall Summary
DataBlockChain have struck my eye as one of the few current upcoming projects which are utilising not only blockchain-based technology, but also its sister tech Artificial Intelligence, to carry out one of blockchain’s greatest and most valuable functions: to revolutionise a struggling and outdated industry.
The data industry is riddled with problems ranging from inefficiencies in sourcing a specific type data supplier to potentially obstructing high data acquisition costs. The digital age is advancing at an astonishing rate, and with the coming enormous growth in machine learning and artificial intelligence, reliable data is becoming a precious commodity at a time when is it most crucially needed.
DataBlockChain’s answer to this plethora of issues is their next-gen artificial intelligence and blockchain-powered data platform which makes the whole process of data buying and selling fit for the 21st century digital age. Big data is BIG BUSINESS and is projected to grow enormously in demand as we progress through the next phase of the digital revolution, and such a solution as that devised by DataBlockChain is definitely needed to bring the space into a position in which it is able to cope with this increased demand.
DataBlockChain is a project with a clear vision to deliver an innovative next-gen solution to a problematic space. This is a blockchain lover’s dream! If the team can deliver, DataBlockChain is going to change the experience of gathering data in a huge way.
This one will remain on my radar for sure, and I wish them the best of luck in their token sale (Main Sale starts September 10th).
Take a look at the DataBlockChain website to dig deeper into your project research or to find out more:
http://www.dbc.io?utm_source={cryptospartan}&utm_medium=article&utm_campaign=bounty
If you have questions you would like answered I'd suggest joining either their standard Telegram community, or their Bounty Telegram community depending on your query
Telegram- https://t.me/dbcio
Bounty Telegram- https://t.me/joinchat/Ho-YFg8O26hIutf7R8A8BA