Most of you would have probably heard about “IoT” and how it is the next big disruptive thing in tech. Before we dive deep into Data Broker Network ICO, lets first spend some time understanding what does IoT entail and why is everyone so excited about it?
IoT stands for Internet of Things, simply stated IoT makes it possible to link the physical world to the internet or digital world. It entails hardware such as sensors or actuators which are connected by networks to computing systems. These systems can monitor or manage the health and actions of connected objects and machines. Connected sensors can also monitor the natural world, people and animals.
IoT in the last few years has had a profound impact on the society and the economy. It has made it possible to monitor and manage operations thousands of miles away, track goods as they cross the ocean or detect changes in the blood pressure of a diabetic that might be a sign of a heart attack.
A number of breakthrough technology changes have come together to enable the rise of IoT in the last decade. The prices of IoT hardware are dropping, putting sensors, processing power, network bandwidth and cloud storage within reach of more users and adding numerous practical applications every day.
The global market size growth figures(shown above) are a testament to how companies all over the world have adopted IoT.
All the powerful tech firms of the world are now heavily invested in IoT (listed above)
Okay, so there is a lot happening and it would seem to a lay man that everything is perfectly fine in the industry. After all, when there is so much investment in it, what could go wrong?
This brings us to a very important lever in the IoT ecosystem – Data.
With the amount of invested capital, the number of IoT (connected devices) are rising worldwide. (figure below).
With the increase in number of devices, there is also massive ramp up in the amount of data these devices (sensors) collect day in and day out.
Now what is happening to that data? Are companies leveraging that to its potential? Let’s look at an example from the Oil & Gas Sector.
Source: Bain Research
99% of data collected from over 30,000 sensors on an Oil Rig was lost before reaching Operational Decision Makers.
This is exactly what “DataBroker DAO” plans to disrupt – The DATA in IoT eco-system.
DAO’s vision is to build a peer to peer marketplace for IoT Sensor Data. To enable this, it will leverage smart contract based marketplace on the ethereum network.
Simply stated,
DAO Marketplace = Smart Contract on Blockchain + IoT
It is essentially a marketplace, which powers 2 key things:
- Helps Data Owners with a legal, safe and simple method to monetize their data
- Provides Data Consumers with a Decentralized Marketplace, which guarantees accuracy of data plus the option of tapping into data points erstwhile never available to them.
Lets understand this further, by looking at the key stakeholders in the ecosystem.
Data Owners: It could be anyone who has purchased an IoT device (an Individual or an Organisation). If they are willing to enlist their sensor on the platform, they become Data Owners, who are willing to sell Data. An individual would be motivated by the potential of passive income generation by sharing the data points or the same would apply to a Company.
Apart from passive income, Companies can also potentially transfer this data to another firm, with a complementary solution, which can utilize the data.
DAO platform empowers the Data Owners by giving them 80% of the sale proceeds.
It is very important to recognize that the Data Owner has full control over what he choses to share and how.
Recently, when IoT went overboard was with the case of an Amazon Alexa device in Portland, which recorded a couple’s conversation and sent it to one of their contacts.
Data Buyers: As their name goes, they are the data buyers on the marketplace. These could be mostly organizations, whos stand to benefit from these data points. They can also be marketeers, who would like to leverage these data points to understand their consumers better.
Data Processor: A Data Buyer can also be a Data Processor, who in turn buys the data to further work on it and enhance it. Eg: An analytics firm could be a buyer, who in turn leverages the data and sells the insights derived from the data points to another firm.
Gateway Operators: The data produced by sensors, when eventually traded in the platform, has to flow from one point to another. Usually it is enabled by wireless sensor networks / GSM via the Telcos. The gateway operator’s role is to expose the gateway they operate enabling trade on the platform. Essentially, Gateway Operators act as the bridge between the Telcos and the Buyers and Sellers on the platform.
About ICO
The DTX token is a utility token in the Databroker DAO platform. It will act as the default currency for buying and selling data within the platform.
The maximum number of tokens to be issued is 225mn, which is roughly equal to the number of sensors projected to be around till 2024.
The pre-sale begins on 19th March, 2018. The exchange rate during the pre-sale will be 6000 DTX/ETH.
The exchange rate during the ICO period will be 4000 DTX/ETH and a bonus of 10% will be provided on the first day of the sale.
Summary
It was about time that Blockchain found its way into one of the most disruptive technologies of recent times – IoT. By combining the power of blockchain atop IoT, DAO is enabling a one of its kind marketplace, which is benefical for all the stakeholders in the eco-system.
The potential and use case of the platform, will only grow along with the IoT platform’s adoption all over the world. The best part about this is that it empowers normal users (eg: a person with a smart bulb) can also expect to benefit from this platform.
It won’t be an exaggeration to say that DAO is positioned to be the EBay of the IoT Ecosystem.
For more details about the ICO & Platform, kindly visit:
Website: https://databrokerdao.com/
Whitepaper: https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=2113309.0
Telegram: https://t.me/databrokerdao
Blog by: maxxxks
Bitcoin Talk Profile: https://bitcointalk.org/index.php?action=profile;u=1929209
Coins mentioned in post:
This post has received a 0.69 % upvote from @booster thanks to: @maxxxks.
Hey @solariss
I can't understand why you want to delete my comment.
Nice post, didn't know that companies are going to spend such a huge amount on IOT. Hey Akbar, sorry for the confusion, I was commenting somewhere else. I am new on steemit