Home / Crypto Currency / DataBroker DAO: An Exclusive Review

DataBroker DAO: An Exclusive Review

DataBroker DAO is a marketplace that is designed for buying and selling sensor data. It is the first ever attempt to create a blockchain based decentralized marketplace for IoT sensor data. Over this marketplace, sensor owners will be able to turn their device generated data into stable streams of revenue. The platform is set to open up major opportunities for different industries. Besides, it will also ensure that the data collected will be put to effective use.

How does it work?

The platform is going to interact with multi-sig contract and Ethereum addresses at its core. The core of this platform is the registry of sensors and data streams that will be offered by the platform. The streamed data can be live data that is sourced from an IoT sensor and the sale of data will be based on time span.

The stakeholders of the DataBroker DAO will be the owners of sensors, data processors, buyers of data, and the gateway operators. The owners of the sensors that decide to sell their data will earn 80 percent of the amount received. They will be required to pay a small recurring fee for the opportunity to place their sensor on this platform. The data processors will buy the data with the goal of enriching it and reselling it.

The buyers of the data and the processors will be able to acquire data as a service. As a result, they will no longer need to make expensive hardware investments to acquire the resources they need. Besides that, they will be able to gain access to data that would have otherwise remained in data silos of the sensor owners.

The gateway operators will let the data flow to the DAO. The data following into the DAO will come from billions of IoT devices globally across a wireless sensor network. These gateways can be operated by Telecom companies in each country enabling sensor owners to sell data on the DAO platform. While sensors owners get 80 of the revenue, gateway operators will receive 10 percent while the other 10 percent will go to the DAO to cover operating costs.

The Token

This platform is going to be powered by the DTX token. It is an ERC20-based token. The token will be used as credit for buying and selling the sensor data within the platform. The public sale for this token will be held from March 26, 2018, to April 23, 2018.

More information about the project is available at – https://databrokerdao.com/

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

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