DataBrokerDAO: IoT Sensor Data Market

DatabrokerDAO is a decentralized sensor data market.

DataBroker DAO is the first ever decentralized P2P marketplace for trading Internet of Things (IoT) sensor data. Using this marketplace, individuals and businesses will be able to monetize their data or buy the data for various reasons.

The market for IoT sensors has grown to $600 billion worldwide, showing just how valuable data is for businesses. In 2019, this number is expected to double to $1.2 trillion. In 2016, less than nine billion IoT sensors were deployed globally, whereas their number is expected to grow to 33 billion in 2019. With this backdrop of exponential growth, DataBroker DAO will create a secondary P2P marketplace where this data can be freely traded. By entering this burgeoning market as a first-mover, the potential growth for DataBroker DAO is enormous.

The DataBroker DAO is a Dapp (decentralized application) that will run on top of the Ethereum blockchain. This platform will instantly connect buyers and sellers using smart contracts — automatically executing contracts that do not require intermediaries — so that the sensor data is sent from users of the sensors directly to those who purchase it. The lack of intermediaries or brokers involved in these transactions will make this valuable data less costly for businesses that acquire it.

There are many potential uses of the data in this exchange. Buyers may use the data in raw form for their own use or may analyze the data and resell it with value-added data or information. Data can be purchased to develop artificial intelligence (AI) to aid in decision-making. Moreover, there would be a wealth of critical data in the exchange for researchers and scientists. Businesses can buy the data to more effectively market their goods and services to consumers.

The means of exchange or currency on the platform is the DTX token that is ERC20 compliant. DTX tokens will be required for buying data on the platform, and can be traded at exchanges for other cryptocurrencies or fiat currencies. The platform will collect 10 percent of each transaction for continuous development.

From March 19, 2018 to April 25, 2018 DataBroker DAO will be conducing its pre-ICO. During this time, one ETH will buy 6,000 DTX. During the ICO that begins April 26, 2018, one ETH will buy 4,000 DTX. Notably, this project has a solid 4.1 rating at ICOBench. Those interested in blockchain and its application to the growing IoT market may want to look further into this cutting-edge project.

*I am receiving DTX tokens for the growth of the community.

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