April 22, 2018

DataBroker DAO - Marketplace for IoT Sensor Data

Dear readers, to all the kind time of the day! Today we will discuss a very interesting ICO project. Today, the streaming industry is very popular. DataBroker DAO Introduces blockchain technologies into this niche, let's look at it in more detail !

The DataBroker DAO platform is a new development, which in the near future promises to grow into a global market for data sale and exchange. The system is decentralized and operates on the basis of reliable blockchain technologies. The owners of IoT sensors are given a unique opportunity to receive an unlimited income, generating data on their devices. However, the purpose of the DataBroker DAO system is not only to provide individual owners with a stable income, but also to open up a wide variety of opportunities for different industries and technologies that can successfully use these generated data for their development and increase the efficiency of their work.

DataBroker DAO actively promotes the early formation of "smart life", when all spheres of life activity will work effectively and exclusively for the benefit of society and every person. And for entrepreneurs (both private start-ups and large corporations), these data will be offered at a very affordable price. Considering that about $600 million a year was spent on the acquisition of sensors, their data will be in demand.

Challenge

Open the keys of potentiel & monetization of IoT sensor data

Individuals, companies, researchers & governments spend hundreds of billions each year to buy and maintain IoT sensors. The investment and application growth in IoT is really surprising, but all the data captured by this device is enclosed in silos and walled gardens.

Solution offered

DATA BROKER DAO is creating a platform for the buying and selling of the IoT sensor data. A platform that facilitates the direct interaction between the Data owners and data buyers based on the blockchain technology. The sensor owners, data buyers, data processors and gateway operators are part of the marketplace. They have also been called eBay for IoT Sensor Data. Sensor Owners have a great opportunity to earn revenue by monetizing their data to recover the investment made in the sensor.

Data Processors can create services and sell it to customers utilising the Sensor Data. They have launched a beta version of the platform for the public. Some of the core features of the platform are Wallet Functionality, sensor data stream listings, sensor details and dataset listings. They have a traditional governance mechanism until the active participation of the community and industry does not take place.

The unique DataBroker DAO bride system benefits for each of the parties to the process:

Sensor owners - have an almost unlimited opportunity to monetize their data within the DataBroker DAO system, as well as a real opportunity to quickly recoup their investments in IoT sensors;
Network operators - are actively increasing their scale of work and receive a good profit within a short period of time;
Producers of sensors - have the opportunity not to spend all their resources and capital exclusively on production, and use them in more profitable projects for the overall development of technology;
"Smart city" initiatives - now the money will not only be spent on equipping the city with sensors, but will also generate a constant profit, while decreasing the payback period to 2 or 3 years and providing the possibility of obtaining a stable income in the future;
Agricultural sector - sensors can be used not only in a technologically advanced metropolitan area, but also outside the city - to use and account for wind energy, temperature, atmospheric pressure and humidity, and even soil pH;
Sientific sphere - now it is possible to choose and buy the necessary data, which leads to a direct and active development of the industry.

Conclusion

The concept of smart home, smart cities, intelligent transportation and smart grid has come into human mind due to the IoT sensors. It is believed that there are more than 9 billion IoT sensors worldwide. According to an estimate, more than 30 billion objects will be connected through IoT by 2020. IoT Sensor market is estimated to reach 1.6 trillion dollars by 2024, according to an estimate. The market is moving at a rapid rate as more and more people are investing in the IoT sector.

Organisations have become more technology savvy and wish to utilise the power of IoT to increase efficiency in their Business operation. They have analysed their Platform on the basis of the McKinsey report which mentioned about the six pillars of the IoT Sensor data Marketplace. They are doing admirable progress in the development of the platform for completing the launch of the platform in this year only. They have formed a DATABROKER DAO alliance to create an ecosystem of collaborative effort and action towards the development of sustainable solutions in the IoT.

As many as seven companies have joined the alliance. In future, they are creating applications which can be integrated with the other platforms, where sensor owners can find a direct option of selling their data to the third party. A transparent platform is here to sell your data to the people you choose. So, are you ready to sell your Sensor Data?