DATAREUM - Decentralized Marketplace

Datareum is a decentralized marketplace that will enable individuals to monetize their personal data, selling it directly to market researchers, academic researchers, and other interested parties. Built on the Ethereum public blockchain, Datareum’s platform will facilitate this peer-to-peer transaction of sensitive personal information securely, without the risk of hacking. Using online surveys as a starting point for building the marketplace, Datareum will employ incentive mechanisms that, over the long-term, will ensure the availability of superior quality custom data, providing an indispensable tool for researchers of all kinds.

Background

Operating largely behind the scenes, data brokering is a business that collects and stores personal information about consumers and sells it to organizations who require that data to design their marketing strategies. A 2014 US Federal Trade Commission report identified data brokers as companies that “obtain and share vast amounts of consumer information, typically behind the scenes, without consumer knowledge.”

The data brokers collect this information from a variety of sources such as government records, browser cookies and credit/debit card transactions. Various data types associated with this market include consumer data, commercial data, scientific data, real-estate data and geo-location data.

The Value of Data

Actually quantifying the true value of data is not easy because the applications for its use are rapidly evolving. But as an example we can see that in 2016 Microsoft acquired the online professional network LinkedIn for $26.2 billion. Globally, LinkedIn had about 100 million active users per month prior to the acquisition. A simple calculation tells us that Microsoft paid about $260 per monthly active user

To a company seeking profit then, data has significant value. In 2013, analysts predicted that the ROI of investment in Big Data would increase from 50 cents per dollar invested at that time to $3.50 per dollar in three to five years’ time 2. According to McKinsey Research, better use of data analytics by marketers can improve ROI by 10-20%

Size of the Data Broker Market 

The data brokerage market, which can be seen as a metric for valuing data as a whole, is estimated to be a $200Bn industry. The market is dominated by large international players such as Axciom, Equifax and Experian that offer the most sophisticated data sets. Equifax is said to hold information on 800 million individuals around the world, generating revenues of $3.1 billion in 2016 4. A subsection of data brokerage, the market research industry - which includes players like Neilson and Ipsos - generated $44 billion in revenue in 2015 5. Focusing specifically on perhaps the fastest growing component of this industry - online market research using surveys - we find $21 billion in annual revenue $2B, conducting approximately 3 million surveys per day

 

Opportunity

What if we could own and sell or give away our data directly? In a world where people have full control of their data, a fair and transparent data marketplace can be created. In such an open marketplace, data providers are incentivized to make available - even expressly produce - higher quality data in larger quantities. This has positive implications for research of all kinds.

Data purchasers meanwhile gain access to higher quality data at lower cost due to the elimination of intermediaries. Additionally, since data in such a marketplace is by definition given voluntarily, researchers are assured access to ethically sourced data. Both the quality and quantity of data in such a marketplace, therefore, represents a vast improvement over the status quo. 

Liquid Token Flow:

The DTN Token Marketplace

Demand for the DTN token is required for the creation of a liquid marketplace. This marketplace is both a data marketplace and a goods and services marketplace.

Ways Requesters Obtain DTN Tokens

• Buy DTN at market price on cryptocurrency exchanges 
• Selling vouchers for products that can be purchased outside of the platform 
• Reselling data that has already been paid for on the platform

Ways Providers Spend DTN

• Exchanging on open cryptocurrency marketplace
• Purchasing vouchers for the products of requesters

Ways Providers Earn DTN

• By filling out forms
• Through residual income from the reselling of data 

Ways Requesters Spend DTN

• Pay for directly commissioned data
• Pay for resold data

Key Features of the Advanced Platform

Road Map 

Team Members

MORE INFORMATION  :

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