Datum has shown us a very great innovative idea in which almost all users is suppose to be a part of. It gives us the power to control and regulate our data that's being generated from our technological devices and be able to monetize such data. This data could be stored very securely in the Datum servers which are decentralized with the use of the blockchain technology and also with the use of the smart contracts, opens up a very great possible outcome that's the first of its kind.
The platform was made in a bid to solve the current issue that plague the data industry and that's the monopoly being created by the data brokers. These data brokers will collect data from a lot of users, with or without their consent and trade this data to very large data consumers for a very great fee and in the end, the original owner of the data doesn't get a share of the pie. So with the platform, I believe there will be a very great change in the data sector as all parties in the data ecosystem will get rewarded. So today i will take a critical review of the Datum and provide a SWOT analysis.
Swot Analysis
*Strength - One of the greatest strengths of the Datum platform is the use of the blockchain technology and smart contracts to power the platform. With this, all the data from a user can be safely stored and secure. It provides a very great computing power and storage capability that can not get overloaded. It makes use of storage nodes that are part of the BigchainDB cluster and all the data on it are protected and encrypted by the AES256-GCM with 256-bit key size for
every 128-bit block, and this makes the data have a lot of integrity.
*Weakness - The major success of the Datum platform lies on the user awareness of what this Data means and how valuable it is. A lot of people don't even care about this data and this lack of awareness can hinder the progress and adaptability of the platform.
*Opportunity - The platform has opened up a way to users to be able to make passive money just from the sale of their data. They will have access to a marketplace where they can place their data for bids and the data will be paid for my the large data consumers.
*Threats - For every business there is always a threat present or ahead of its success. I want to highlight some major threats in the Datum Platform.
One of the major threats here is the Data brokers who are mostly in joint businesses with the Technology that creates the data and they won't be too happy about such developments. So they may try to fight to keep datum out of business.
Another threat is the Future competitors who are also in the businesses of trying to monetize and incentivize users for their data.
With all this mind, it is worthy of note that the Datum project has all it takes to stand tall and rise above its obstacles and competitors thereby making it a good investment choice
So for more information, please visit
Website: https://datum.org
Whitepaper: https://datum.org/assets/Datum-WhitePaper.pdf
Blog: https://blog.datum.org/
Twitter: https://twitter.com/datumnetwork
Telegram: https://t.me/datumnetwork
Author - hamzeto
Email - [email protected]
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