Cryptocurrency

Databroker Dao – The First Marketplace To Sell And Buy Sensor Data

DataBroker DAO is the first marketplace to sell and buy sensor data. The platform aims to capitalise on the internet of things market and if anything can be monetized, it will be monetized. Founded by Matthew Van Nierkerk and Roderik van der Veer and backed by an able team of IT personnel, FinTech analysts and advisors, DataBroker DAO is a platform based on the blockchain technology and was developed for the primary purpose of helping individuals and companies monetize their sensor data on its open and decentralized marketplace.

In essence, DataBroker isn’t just looking to make the information collected by sensors available to people, it is also creating a platform through which the sensor owners, sensor manufacturers, data processors, network and other interested parties can trade- buy, sell or share these IoT sensor data.

Like previously stated, sensor data is not readily available to people who may be interested in the information because the data is locked up in walled gardens and data silos. So how will DataBroker access this information if it is unavailable? DataBroker DAO incorporates the communication infrastructure of network operators that act as information transmission highways for the IoT sensor data. DataBroker DAO is currently integrated with an infrastructure that supports 9 billion sensors worldwide with about $600 billion dollars’ worth of data.

Why is DataBroker DAO necessary?

The more advanced technology gets the more information piles up and subsequently, there are petabytes of information available as IoT sensor data. Information that can be utilized to facilitate the advancement of different sectors including agriculture, academia and science. For example, sensor data from blood pressure readings collected over time can be applied in medicine to measure how patients are responding to treatment.

The information from moisture, temperature, pressure etc. sensors can help farmers determine the best time for cultivation to maximize output at the end of the season. Manufacturers of various products can determine their own pricing structures based on information available about customer habits and market trends.

Essentially, DataBroker DAO provides sensor owners with a revenue stream via monetization of sensor data while providing data consumers on the other end with necessary information that would have otherwise been locked up and unavailable.

Conclusion

Though DataBroker DAO is not the only sensor data trading platform available today, it was the premier marketplace for sensor data trading. The beta version of DataBroker DAO was released in March 2017 after a public demo of the platform was held in January 2017 in London. DataBroker is still relatively in the start up phase nonetheless, it is already in partnership with big time data traders in the industry like Yuktix, Senthus, Desidedatum and Technilog.

The company has scheduled an Initial Coin Offering as a fundraising tool where DTX tokens will be sold to investors. The DTX coin is created to serve as the only means of payment on the platform to eliminate problems associated with transactions in fiat currency or more established cryptocurrencies.

Angela Scott-Briggs

Editor, TechBullion.com | Interested in Innovations in Business, Finance, and Technology .

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Angela Scott-Briggs

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