With a revolution of the Internet of Things (IoT) upon us, the data created by sensors becomes a great source of value. DataBroker DAO is a decentralized marketplace for the trading of IoT sensor data that will allow for its greater and more varied use.
Though there were an estimated 8.4 billion devices around the world capable of connecting to the internet in 2017, this figure is expected to rise to 30 billion by 2020. The market for IoT is also expected to reach $7 trillion by 2020. The proliferation of IoT devices is generating an exponential growth of the data they create, which has enormous potential value. DataBroker DAO will create a marketplace powered by the blockchain that will allow users to monetize and purchase this data in a secure and cost-effective way.
The blockchain on which this platform will be based is Ethereum. Ethereum is a second-generation blockchain that allows for trustless transactions with smart contract capabilities. Smart contracts allow users to automatically execute agreements without intermediaries when both parties have fulfilled their part of the agreement. This disintermediation has the effect of substantially lowering the costs of transactions, rendering third parties such as brokers as useless.
The DataBroker DAO platform will allow users of IoT sensors to transmit data directly to the buyers of data using smart contracts. This potential for monetization will be a boon for individuals and businesses, who can capitalize on this data for extra income. Businesses in particular will be able to offset the costs of purchasing and maintaining their IoT infrastructure by selling this data. Telecommunications companies, also known as gateways, will also be able to monetize their networks by making them compatible with the platform, thus collecting fees from the transactions involving sensor owners within their network. Buyers, in turn, can use the data in raw form however they wish or may use artificial intelligence to further derive more useful data to resell it at a premium.
The DTX token is needed to purchase data in the platform and is used to reward sellers and gateways. As an ERC20 token, it can be exchanged for other currencies and fiat currencies at exchanges. Of the revenues of transactions, sellers keep 80 percent, gateways keep 10 percent, and the platform keeps 10 percent. This reward structure ensures that all parties are incentivized to participate in the ecosystem.
From March 19 to April 25, 2018, DataBroker DAO will have a presale in which one ETH will buy 6,000 DTX. Starting April 26 and running for four weeks, the main sale will take place, during which one ETH will buy 4,000 DTX. This project is interesting in that it involves two exponentially growing and disruptive areas: blockchain and IoT. If DataBroker DAO can follow through on its roadmap and capture just a fraction of the IoT market, it will be a major global force with which to contend, potentially revolutionizing the industry.
*I am receiving DTX tokens for the growth of the community.
To find more information about DataBroker DAO:
Bitcoin ANN: https://bitcointalk.org/index.php?topic=2113309.0