Datareum is known to be a decentralized marketplace that enables the individuals to monetize all of their personal data, academic researchers, then selling it directly to the market researchers and all the other interested parties. Datareum is built on the Ethereum public blockchain, and the platform facilitates the peer-to-peer transaction of the susceptible personal information with a lot of security excluding the risk of any hacking. It also makes use of the online surveys as a starting point for building the market place. Datareum also employs incentive mechanisms that, over the long-term, make sure that the custom data available on the market is of superior quality along with providing an indispensable tool for all kinds of researchers.
The data is an economic asset that is created by a combination of a fundamental identity including age, gender, location, etc. and the behavioral traits like interests, relations, and opinions. The data is sent permanently when the customer register for different services and the ongoing status is also shown when they subscribe to different pages. At the same time, the companies also get a lot of profit in terms of money. All this information was about the companies who monetize your data and sell it to various researchers.
Thanks to the datareum– a decentralized marketplace, where everyone will be able to monetize their data and then sell it directly to the academic researchers, market researchers and the interested parties. This platform, which is built on Ethereum public blockchain, surely protects the personal and confidential information from cracking. Datareum uses stimulation mechanisms along with the online surveys as a starting point for the creation of market. This is return, will provide accessibility of high-quality user data, providing a valuable tool for all types of researchers.
The essential task at this stage is to set the transparent relations between the owner of the data and the requester. This platform provides a fair and open world to its data providers to have complete control of the data they produce. In addition, the data requester has access to ethically sourced, high-quality, structured data at a fair price. In this world where technology has taken over almost all the platforms, providers will reasonably compensate for the value of their data, and all kinds of researchers will be able to access the high-quality data that they need.
Of late, various companies enriches themselves by using the online data provided by the customers, tracing the sites which they visit, videos that they make, etc. but instead of doing this, one should understand the real value of the content and try to benefit from it. On the contrary, Datareum offers the best escape from the current situation by allowing filling available surveys and get DNT tokens to wallet integrated on the platform.
The features offered by Datreum for the providers:
• IOS and Android software users can make use of this platform.
• One can also use Facebook login profile to access Datareum.
• It is an easy to use interface including the ability to search for available surveys by payout, the estimated time taken, etc.
The features offered by Datreum for the requesters:
• A minimal setup fee for the requesters.
• Any requester has the ability to set amount of DTN to conduct a research campaign with excess returned.
• The requesters have the ability to set requirement for quality of data with higher quality data sold at higher prices.
• One gets to use platform tools to build questionnaires and polls.
• The requester has the ability to import questionnaire via csv/excel.
• A separate portal to view a real-time result
• Requesters get access of the exportable format.
Primary benefits of the Datareum platform:
The primary advantage of the Datareum is the possibility of controlling your own data that is collected by the researchers only with the permission of data providers. Providers have the right to make a decision about which data should be sold free of change and which of the same can be sold with charges. After this, data providers receive DTN continuously because all the information that they provide can be resold and a lot of money can be generated. Use of Blockchain also provides a high level of warehousing data by not storing it in a centralized location but in a distributed network, guaranteeing the invariance of the information.
The data provider has the ability to send the DTN to cryptocurrency exchanges or a personal ERC-20 wallet along with a voucher marketplace where one can receive vouchers for goods and services that have been made available by the requesters. When we have a look at the data requester’s side, the benefits are many. They have an ability to send and receive DTN to or from a cryptocurrency exchange or personal ERC-20 wallet. Just like data providers, the receivers have the ability to send vouchers and receive DTN for voucher’s purchased.
How do Datareum works?
- The applicant who wants to make use of the Datareum publishes survey with specifications of target data like age, gender, location, salary, etc.
- The conditions to survey become conditions of a smart contract in the data market.
- The applicant saves the DTN tokens in escrow, for making payments to providers for the response to the survey.
- Providers conduct the survey and enter it into the market of data.
- Results are retrieved from the data by analyzing according to rules of a smart contract and are either transferred requesting or deviate.
- In the end, if all the conditions are met, payments are transferred from escrow to the data provider.
In the market of data, the quality of the same is very important. Datareum uses the combination of mechanisms for the verification of data which when reaches the highest level, have the most significant potential value in the market. Know that the data created by the bots and all the low-quality data which is generated by the people will be removed while making the functioning market.
Official Website: https://www.datareum.net/
ANN Thread Link: https://bitcointalk.org/index.php?topic=3189049
Whitepaper Link: https://www.datareum.net/whitepaper.pdf
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1464621