A MONETIZED DATA STORAGE NETWORK ON THE BLOCKCHAIN

Data creators need to be empowered by a secure way to store and exchanged data in a profitable marketplace that promotes monetization of their data. Unlike what is obtainable where large private companies provide so-called free social media services in exchange for data which they end up selling for billions of dollars. Data owners are left out and not given real value for their data.

Today, many companies around the world depend on acquiring data to maintain a competitive edge and grab a large chunk of the market share in whatever industry they operate. Companies now leverage on data that allows them analyze market behaviours and changes which enable them design measures and strategies to better satisfy customers, reduce cost and maximise profits.

Social media service providers like Facebook, Twitter, LinkedIn, Google YouTube, Yahoo and so on collect data from their users and subscribers in exchange for nothing. They sell this data and rake in lots of profits. And the more users keep patronising these social media platforms, the more their data pools grow and increase in monetary worth.

Datum has come up with a solution where every data creator can directly monetize their personal data and also control who accesses such data and how it is used. It is a fairer and more just system where the data originator decides how much data he or she is willing to share in exchange for some reward.

Users get to submit their data which could be personal or business related as the case may be, to storage nodes known as the Datum BigchainDB cluster which can store data globally. Storage nodes supply computer power and the needed storage capacity that guarantees data storage on a decentralized platform. Users are given the option to grant access to data consumers that have proven worthiness, either for free or at a price which users decide on clear terms. Users enjoy absolute control of privacy settings and can determine at any moment who to share data with.

Datum promotes data integrity by ensuring continuous availability, latency and a sustainable reward system on a decentralized and secure platform. Data is encrypted immediately and cannot be tampered with. Monetization is at the user's discretion with the user in full custody of the life and detail of the data.

Datum aims to create a platform on the smart contract blockchain which implements high security standards with users having total control of every data coming from them, including data from the Internet of Things. With Datum, users can securely store and structure data on a quick decentralized smart contract blockchain network.

Datum targets to become a dominant data marketplace and service researchers, companies or individuals who will respect and abide by data owners's terms and conditions. Thereby ensuring data owners get remunerated fairly. Datum is willing to assist and create initiatives that promote the control of data by data creators and owners. Datum has a reward structure which incentivises users to store data on the network while maintaining data control. With a minimum critical momentum, the Datum network will integrate various types of data.

Datum has created a utility token called DAT token to fuel the Datum network and be used as the medium of exchange on the platform. The DAT token is the intermediary between data owners and buyers. The Datum network has pegged the DAT token total supply at 3 billion tokens with 1.53 billion tokens to be issued out during the public crowd sale. The only acceptable currency is ETH with the price of 25 000 DAT per ETH.

For more information about Datum, you can click any of the links below.
Website: https://datum.org