DATUM; A BLOCKCHAIN LEVERAGE FOR DATA CREATORS

donrep (36)in #ethereum • 6 years ago

Data refers to a collection of facts such as numbers, words, measurements, observations, etc that have been translated into a form easily processed by computers. Every industry today depends on the use of data for rapid growth and development. It could be used in a study to cure a disease, increase a company's revenue, make a building more efficient or be the reason for a specific kind of advert you keep seeing on the internet.

Many companies purchase personal data belonging to users and subscribers of social media sites like Facebook, Twitter, Yahoo, Pinterest to mention a few. Once a user enters email address or credit card details, such a person has given away personal data. Companies who buy the data often use it to provide personalized suggestions of either a product, service or information to keep the data owner engaged.

Transactional data is gotten after clicking an ad, making a purchase or visiting a web page. It can only be retrieved after an action with the aid of Google Analytics, third party system or internal data capture. Transactional data exposes businesses to variability and operations optimization that yield a lot.

Web data refers to data retrieved from the internet to be used for research purposes. It is informative in nature and usually not stored in an internal database. Sensor data is known as the internet of things which is produced by objects. It involves using machines to measure happenings around them.

The importance of data cannot be overemphasized as many corporations globally depend on it to remain relevant and keep afloat. Governments and every other sector cannot function without data to assist in reaching goals and objectives. Some of this data is owned and controlled by large social media platforms like Instagram, Facebook, Snapchat etc only to be sold out without the consent of data creators.

Datum has designed a blockchain smart contract solution that empowers data creators to take back control of their data. Datum is poised to liberate data owners from the injustice and exploitative tendencies of big data companies

Datum platform is built on a highly secure and decentralized blockchain where users comfortably store their data. Datum serves as a data marketplace that allows individuals to share and exchange data for some remuneration. The DAT token serves as the official medium of exchange on the Datum data sharing and exchange hub.

Datum offers researchers, companies, individuals and other entities the opportunity to enjoy seamless access to data while holding in high esteem the terms and conditions laid out by the data owner. Datum is working towards becoming a predominant data marketplace that will kick-start the revolution of of ensuring data owners get paid.

Datum resolves to support any initiative that promotes the absolute control of data by its originators or creators. Unlike what is obtainable in most data oriented platforms where data creators are made to give up rights over personal data. There has to be a deliberate attempt by legislation to deliver the rights over to its true owners, Datum is always willing and ready to provide support for such courses.

Datum is offering data creators a chance to take back control of data and determine when and how it is sold. Companies, individuals and other data consumers can request for access to data. Data consumers must be convincing enough and show responsibility coupled with the willingness to abide by the terms of data owners. The DAT token smart contract controls the terms guiding data usage on the Datum network.

The DAT token is a utility token that will serve as the official medium of exchange on the Datum data marketplace. It will also fuel data trade between data creators and buyers. Ownership of the token will grant access for market participation and storage node registeration. DAT token will be used to pay for data storage and sharing.

The DAT total token supply is pegged at 3 billion tokens with 1.53 billion tokens to be issued out during the public token sales. The acceptable currency is Ethereum and the token price is set for 25 000 DAT per 1 ETH.

THE Datum network is managed by a team of well experienced technocrats in various entrepreneurial ventures.