Introduction: Data is a currency
The internet, since inception has become abode to the personal information of billions of people across the continent, albeit, not a safe one.
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Every now and then, there are issues of data breaches by even the biggest of firms in the digital world . These companies realise that there is a monetary value assigned to every user data, and they illegally take advantage of this to the fullest. They partake in the commoditisation of user data, selling them to research institutes,advertisement companies, political agencies and virtually anybody willing to pay for them.
The sad fact is that the owners of these information have no control over who is able to access them, talkless of making any money from their sale.Suffice to say, internet giants such as Facebook,Google,Yahoo,Microsoft and the likes have imposed a kind of "dictatorial" approach towards management and control of data, in which the owners are simply nothing but subjects.
In this article, we will extensively look into Datum and it's proposed solution to the incessant issues of data insecurity and privacy abuse in the digital world.
Restoring Data Control With Datum
Datum is a blockchain powered platform that seeks to restore control of data to its rightful owners.
Through the use of smart contracts, Datum allows users to upload their encrypted data to decentralised storage nodes, only making them accessible to people who they choose . In this manner, people can not only decide who can access their information, but also make money from granting interested parties access to their data.
Storage capacity and computing power within Datum's ecosystem to comfortably hold all user data is catered for by BigChainDB and IPFS, two platforms renowned for immutable data storage.Users can also allocate their unused PC storage to act as storage nodes, earning DAT tokens in the process (DAT token is the native currency used for transactions within Datum's ecosystem).These storage nodes are globally distributed in a decentralised manner, making data secure and less susceptible to hacks since there are no central servers that can be attacked as in other conventional cloud storage systems .
The two major players within the ecosystem are the Users and Data consumers.
Users
Basically, users require little amounts of DAT tokens to store data on Datum .In the process, they can customise their profile and data accessibility to suit their preference.For example, they can choose to :
- allow all users access their data without incurring charges
- allow only certain users of their choice access data without charges
- allow all users access to their data at a fixed or negotiable charge.
User's accessibility preferences are saved in the smart contract, which is programmed to act as stipulated. Consequently, the user's data is distributed to the entire Datum's storage nodes to ensure latency, higher level of security and ease of accessibility.
Data Consumers
Data consumers are individuals or organisations that require access to user(s) data. Depending on the accessibility option of the user in question, data consumers can either access data free or purchase data using DAT tokens, only after negotiating with owners. After an agreement is reached, "the smart contract initiates an off-chain key exchange to release data under owner's terms" to the consumer and sends DAT tokens the opposite direction.
Datum's Data Validation Mechanism
To attain a thriving Datum ecosystem, reliability and validity of data must remain a top priority because if this is compromised, data consumers and investors will eventually abandon the ecosystem. Therefore, to gain the confidence of individuals, researchers, companies and every other associated entity, a viable means of confirming the legitimacy of purchased data must be put in place .
To this effect, Datum's team plans to put in place, a ranking system which scores users based on the validity of their data . This will go a long way to promote transparency and legitimacy of uploaded data since data consumers will generally avoid users will low ranking scores . Datum aims to allow user integration with blockchain based identity confirmation platforms, Uport and Civic. This will ensure that users abstain from fraud and other nefarious acts, and also provide real data for safekeeping or sale since their identity is verified on the blockchain. Datum will also make use of other third party validators to ensure a transparent, latent,immutable and reliable community.
Why Datum ?
Definitely, we may have come across several other platforms offering similar services, especially Cloud computing and Big Data storage platforms.
The question that comes to mind is; why choose Datum out of the host of platforms offering "similar" services ? Here are some advantages of Datum over conventional data storage platforms :
DATA CONTROL: Datum allows users a freehand in management of their data . They can choose to share with everyone, with none, with particular users, with users for a fee etc .
HIGH SECURITY: Data hacks are unfortunately becoming a norm in the cloud storage industry. This is due to the fact they are centralised in nature, thus making it easier for hackers to attack central servers. By leveraging blockchain's decentralised feature, data is distributed amongst several nodes, which makes much less prone to hacks .
INCENTIVIZED ECOSYSTEM: Datum promotes growth by offering incentives to participants, unlike other platforms . People earn incentives by selling data, as well as providing storage nodes.
DATA VALIDATION: Datum tables efficient means of validating uploaded or purchased user data. This ensures that users double check data before uploading and selling, in order not to lose incentives and reputation scores. This also goes a long way in gaining confidence of data consumers and investors .
RANKING SYSTEM: Datum proposes a ranking system in order to guide data consumers on reputation of users before entering negotiations or purchasing .
Use Case
Richard is an archaeologist whose niche is researching on animal bones, particularly extinct ones . On one of his usual excavation trips, he discoveres dinosaur bones in Ogun state, Nigeria .He excavates the remains, runs in depth analysis in his laboratory and documents the results in a journal.
Knowing the high demand for such works, he purchases some DAT tokens and saves his file securely on Datum, making it only accessible at a fee of 2000 DAT .
Wild n' Domestics Incorporation, a private animal research institute develops interests in Richard's journal . After paying 2000DAT, the file is decrypted and made available to them .
Tokenomics
DAT token is the native token used for transactions within Datum's ecosystem. It can be earned by selling data or by allocating space to act as storage nodes .Here's a graphical overview of DAT's allocation .
Summary
Virtually every internet user deserves to be in control of his personal data . He should possess the right to be determine who can access his data, and who can't . Unfortunately, those platforms charged with the task of protecting user data reserve these rights to themselves, act as rightful owners and even make money from their sale .
With Datum, the digital world will experience a major turn around as user's control over data will be restored in an efficient and reliable manner .
INFORMATION AND RESOURCES
To learn more about this project, feel free to visit their website or read their whitepaper.
If you have any questions concerning this project, please feel free to ask in the comment below .
TEAM
ROADMAP
“DISCLAIMER: This article was created in exchange for a potential token reward through Bounty0x"
Author's name: danielwrites
BountyOx username: danielwrites
Twitter username: iam_dannyel
Well ... every day more and more interesting projects come out, and by this means we have seen some. A few days ago I was reading about NOIA and today about DATUM. DATUM I find very interesting, just as an investor I see that the target is not the common citizen, which makes it a little harder to get users, but not Data Consummers. Maybe the option for us is to buy DAT TOKENS to market or to obtain some profit with the price changes in the market.
I like this project
Hello Luis . I'm not quite sure I agree with you there . We live in times where the common citizen is an internet user who has at least some of his information on the internet .So far data on the internet remains vulnerable, there will always be users who seek a means to control their data and if possible,earn a little.Probably from an investors point of view however, it'll be nice making some profits !.
Thanks for your contributions mate :)
Indeed, Datum will restore full-control and legislation of data to the rightful owners and its a very good initiative, i know because i've read a thing or two about the organization. You have done a great work here @danielwrites.
Glad to know more people are getting to know about Datum and it's unique solution to restoring data control! .Thanks for sharing your thoughts @michades97 :)
Very well written my friend @danielwrites. Datum looks amazing project to me, the data control idea they come with is unique and we can say this guys come with something that reolves real life problem. This can be use in coorporate word like telecom industry where this kind of data control required.
Great work my friend..
Thankfully, Datum is one of the few number of ICOs that seeks to solve an actual problem .I actually never thought of its potential application in the telecom industry as most network providers also engage in distributing user's Subscriber Identity Module (SIM) information to third party firms . Quite thoughtful of you buddy !.
Thanks for the kind words and for sharing your thoughts mate :)
Hi @danielwrites
Recent case of Facebook, when Mark Zuckerberg has been interrogated, is the best prove that something is wrong with our data. Since those events I became more careful about my data and started to looking for a new way of managing them. Today, in your article I came across Datum which seems to be interesting project. Thank you for such informative review :)
Greetings, Jan
Cambridge analytica data breach really opened the eye of many users to the way our personal information is commoditised without permission. I really do not think anyone can be too careful, especially with companies like Facebook, unless of course, strict measures are put in place to avoid such and heavy punishments are meted out to companies who knowingly engage in such . But until then, I say we're trapped !
Let's hope Datum will go all the way though . Thanks for your kind comments Jan, I truly appreciate your invaluable contributions. :)
Datum should be able to make their token marketable directly to cash without stress of the customers converting again and again
What do you think? @danielwrites
Exactly my thoughts . Costs incurred in crypto conversions are quite exorbitant hence, the need for this .
But with such a wonderful team that knows the industry inside out, I sure wouldn't be losing sleep over this. I'm beyond confident that they'll have this in check.
Thanks for your invaluable contributions mate . :)
Thanks its an honour
Datum is an amazing project which will bring massive improvement in terms of User's Data control.
Your article is concise and well detailed.
Great Job!
Sure it is. With time, users will be in the driver's seat once more, cant wait !.
Thanks for the kind words buddy :)
I'm a huge fan of being in control of my data. We're seeing a large number of projects coming online now which promote this exact ideology, such as Medibloc and this one.
I think this is the right direction for society to move in, let's stop giving the big corporates the right to use our data as they see fit. They should pay us for the rights to access our data rather than them abuse it for their personal gain.
Nice write up mate, I'll do some more digging into the Datum white paper to learn more.
Fortunately, the world is steering in that direction and hopefully, we'll be in control much sooner than later . It's very sad that internet users have no privacy, from personal info even all the way down to private calls and direct messages . Let's hope Datum will salvage the current situation .
Thanks for sharing your thoughts bro, do have a splendid day and don't forget to tell someone about Datum :D
@danielwrites this is an in-depth overview. I like it
Thanks buddy. Please do checkout the datum website :)
Wow! Datum everywhere on this blog. I need to check it out.
Indeed it deserves the accrued recognition and even more. Datum is definitely a project with great futuristic prospects .
Thanks for stopping by mate and be sure to check out the website !
Round of applause here
..... For Datum ! .Do check out the website in your spare time mate
Great write-up. Very detailed. Datum seems very promising
Thanks man . Indeed it is. In times where data security is rapidly sliding downhill, Datum brings a glimmer of hope .
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STOPnice write up mate
Thanks bro. Please check out Datum's website
Datum would remove intermediaries and put owners of data back on the drivers seat, giving them full control over their data and availing them the opportunity of monetizing their data
As it should rightfully be ! . Please check out Datum's website and you'll even be more wowed :)
Nice write-ups, they are working on a very important project, Hopefully it will be successful
Thanks mate . I'm confident it will be huge success :)
Wow, there is a big chance Datum would make a big competitor with the bigs such as Facebook, Google in data regulation by individualizing the data system.
Nicely written. Quite educative.
Thanks for sharing @danielwrites . I am sharing too for others to acknowledge.
@jodekss
Yes I'm quite positive they would. Their presence will also make other competitors come up with effective data control regulations which will favour users.
I appreciate your kind comments @jodekss ,thanks for sharing your thoughts .
Hi, that's a great overview about this token! Yet i remain sceptical about the coin, not for the technical solution, which sounds solid. What i dont get is why they set up yet another chain and token for a single purpose solution, which could be a simple dapp on one of the platform chains , and thus benefit from the whole environment. In addition, there are a few similar projects going on, now, so competition is already on chain, and competitors promise just the same features.
If I understand properly, you're suggesting they'll benefit more from building a dapp on an existing chain.Care to share how ?
Exactly thaat's what i am suggesting. Btw. this has already been built on EOS and Steem by @luigi-tecnologo: https://busy.org/@luigi-tecnologo/eosfilestore-time-proof-immutable-file-storage-on-eos-blockchain
You may just be right there. I'll check out that link right away
@danielwrites...... You've actually made datum more comprehensible to my understanding and I must say you've done a very great job to come up with this lovely write up about datum.
Wow! I never knew I am entitled to something for every data I waste. I think some companies are just too self centred and stingy for not repaying back some little amount of money after wasting our data and they still end up selling it.
I will love to ask about how can one obtain DAT Tokens? And secondly, can datum be used on mobile (Smartphone) either via Application?
Thanks for sharing this great post with love from@hardaeborla in courtesy of @crypto.piotr
We all at some point didn't know we can cash in our data so don't be too hard on yourself buddy looool . You can find out where and how to get DAT tokens through this link. And yes, Datum can be accessed on your smartphone through their decentralised application.
Thanks for the kind comments and for your contributions mate :) @hardaeborla
Please how can I get the Application for smart phone ?
It is really great that times when people don not pay enough attention to their data are far away. Especially taking into consideration recent crisis and #deletefacebook action. In my opinion this is a kind of milestone and Datum is a next step in process of getting back control over our data.
Thank you for clear and informative review @danielwrites. Pleasant read :)
All the best
Indeed, lots of people are taking their rights to data privacy a bit more seriously and thankfully, Datum will effectively be a relief . We can not but hope they go all the way to proper actualisation so that the last nail can be hit to the coffin of data and privacy abuse .
Always glad to have you stop by and share from your wealth of experience, Piotr . The kind comments are heartily appreciated buddy :)
Totally agree with you.
I am very happy to hear that :)
You're right, I've seen a few platforms that are offering similar services but I noticed some additional authorities given to users with Datum e.g below
I hope they deliver. Had no idea about this platform so thanks for the information.
Those additional features will definitely make them stand out, especially as users love to enjoy flexibility in data control. Thanks for reading through and sharing your thoughts buddy. I truly appreciate !
Absolutely, I agree!. You're welcome mate!
Hi @danielwrites Ilove you article on this project
How would this verification be achieved.....................
Am wondering how the third party will get the verification done.has turned my mind into a playground of thoughts
Thanks mate . There are few blockchain based identity validation platform, each with its own features. Some validate your identity by registering your ID card to your wallet.For example, on SelfKey Network, an identity owner can have a validator such as a notary, to verify the documents in their wallet. They can then share their certified documents with service providers during ID verification processes (e.g. when applying for a bank loan), again via the SelfKey Network.
Some of these platforms are so authentic that some major websites integrate with them as a login option, not requiring passwords of users anymore. For instance, wikiHow, a popular "how-to" guides community with over a 100million users integrated with Civic to allow users login with their verified identity.
I hope you find this little piece of information useful mate.Thanks for airing your views and for the kind comments :)
You did a great job with the exposition.......
I think I have a better understanding of the proposed process
Always glad to be of help friend . Thanks for stopping by
Hi @danielwrites, indeed Datum is one of those crypto projects that would lead to massive adoption of blockchai technology, nice article you have here.
BTW: How can i contact you on discord?
You're definitely right about that! Thanks bro. You can contact me on discord @danielwrites :)
Normally we do not realize the importance and value of our data, many companies take our data and sell it to other companies without our consent, we do not benefit in any way, it seems great that a project wants to change that and we can see us benefited, excellent article, thank you very much for transmitting the information
Exactly ! Datum all the way :) Thanks for your contributions mate
Personally, I love the Datum project and their ideas are what we need in a world that is crazy about social media and what not. People no longer care much about their personal data, trusting all these social platforms with their apparent laxity in security. Datum is a change for once. Nice article @danielwrites.
Lol definitely, when their peers start earning passive income from selling data, that laxity will fizzle out ! Thanks mate @davonicera
This certainly is a project working in the right direction.I have been following this project since its early days and like the way the team is working to shape it
Ohh really ? Thats great . Now let's just sit back and hope it all plays out fine :)
It's really nice to finally have a safe haven for our data like this. Recently someone tried to hack into a friend's account, starting from his mail, it clearly reminded me how perilous it is for our data to be on the internet. Datum is the solution.
Indeed it is buddy. Each day, more glaring reasons why our data isn't safe on the internet surfaces.
Be sure to share the Datum info with your pal :)