[ICO] Datareum - Data are becoming the new raw material of business


Mar 14, 2018

Datareum is a marketplace for individuals to sell their information directly to ones who need it. Built on Ethereum public blockchain, the platform enables each peer-to-peer transaction to be carried on securely and eliminates the risk of hacking. Over the long-term, Datareum has the full potential to provide superior quality data for market researchers, academic researchers and other interested by using online surveys and employing incentive mechanisms to build the market.

Why do we need Datareum? - The value of data.

“Data are becoming the new raw material of business” said Craig Mundie, Senior Advisor of Microsoft’s CEO. Let’s have a look at the case of LinkedIn to be acquired by Microsoft for $26.2 billion in 2016. LinkedIn had about 100 millions active users per month at the time of the acquisition, which means each monthly active user cost about $260. Another metric for valuing data is the data broker market which is estimated to be a $200Bn (2) industry and predicted to grow 27% per year.

Probably by now, people should be aware that our personal information is a valuable economic asset which we are able to profit from and we should be able to profit from it directly instead of letting our information be collected and sold by data brokers. The profits we may get from our data is not only money, it’s also the advancement of society by giving academic researchers the required information to conduct studies. While 91% of respondents agreed that consumers have lost control over how personal information is collected and used by companies, most of them are willing to share intimate data about themselves for scientific research, as long as it remains anonymous.

Together with getting profit from our data, it’s essential to prevent it from being used in ways that are not beneficial to us and “differential pricing” (selling the same product to different people at different prices) is the concern of many people. On the other hand, data security has always been an issue in many systems. It’s really insecure to have a big amount of information in centralized databases. An example for this is hackers were able to obtain important personal identity data for 143 millions people from Equifax in December 2017.

Benefits that Datareum can bring
For data providers
  • Consent
    Data is only collected with provider’s explicit permission
    Provider chooses whether or not to make data available for resale
  • Control
    Providers choose exactly what data to make available for purchase or offer for free
  • Anonymity
    Only demographic details that have been stripped of personal information are passed on to requesters
  • Immediate payment
    Once the smart contract has executed, providers have immediate access to their DTN (“ticker” for the native token of the Datareum platform). This may be exchanged on open cryptocurrency markets or sold back to requesters in exchange for goods and services vouchers.
  • Residual payment
    A provider who has made their data available for resale is entitled to residual payments.
For requesters
  • Relevant data from specified demographics only.
  • Trustworthy data taken by human, not a bot.
  • Speed and convenience.
  • Ethically sourced data.
  • Maintain control of their funds without transferring to a central agent.
  • Specify exact research budget.
In short, Datareum is created to be a fair and transparent data marketplace where people have full control of their data in an absolutely safe system, an open market where higher quality data is available in larger quantities at lower cost due to the elimination of intermediaries.

It will be hard for me to describe all the great things about the project. If you are interested in it, you can find out more details in the attached link below.

Information about …

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