In this issue of Badman ICOs, I want to discuss a project that I have only recently come across in the last few weeks. The project is looking to disrupt the big data industry and create an alternative to the current system. Enter, Data Blockchain.
What is Data Blockchain (DBC)?
For those that don’t know, over the last 20 years or so, collecting and distributing data sets has become increasingly valuable to companies all around the world. We live in a world now where Google tracks your entire search history and Facebook sells your profile information to the highest bidder all to deliver targeted advertising and marketing so businesses can save expenditure and increase profit.
Data blockchain plans to create the world's largest data repository and the first of its kind built on top of blockchain technology. The project is designed to capitalize on the huge data distribution market that has been rapidly growing in recent years and will specialize in selling data to corporations and individuals alike. The current paradigm is one of large firms holding massive swathes of data that have, through non-cooperation and mistrust, made data available only through a fragmented marketplace with artificially inflated prices.
The Platform
By using blockchain technology, the DBC project will offer an alternative to big businesses by merging multiple existing datasets into a singular decentralized archive. This will create a democratized platform that is more efficient, cheaper and easier to access than any current competitors. The platform will allow clients to purchase specific datasets that are sourced and vetted by AI, to create an ultra-efficient process and save the expense of purchasing extraneous data.
By running the project on the blockchain, costs can be reduced by excluding the middle-man and running a trustless autonomous system. This allows even small firms and individuals to access datasets that they currently can’t afford to obtain under the current system.
The AI
The DBC team have developed a smart indexing engine that utilizes predictive analytics and state of the art machine learning algorithms. The AI will analyse billions of records in seconds to find exactly what the client requires in the most efficient manner possible and because an AI does not require human interaction, costs can also be significantly reduced through this process.
The Token
The DBC coin is an ERC20 based utility token that will also support ERC 677. It will be used to power the platform and act as the unit of currency for transactions between the data vendors and data purchasers. The coin will also fund the loyalty rewards program and promotion program that will be deployed to incentivise future partnerships.
Summary
The DBC project looks like an excellent and innovative use of blockchain technology that stands to severely disrupt the monopoly that the current data vendors hold over the market. The project is moving into a massively expanding industry ($591 billion in 2017) and looks to have the technology, and the team behind it, to make a serious impact.
To find out more about the project check out the website, the telegram group or the ANN Thread. The TGE is currently underway and you can take part here. If you want to join the bounty campaign and help to promote the project, you can find out about it here and on telegram.
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Badman Crypto (Phil Stephenson)
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ETH: 0xea5924b2a0b977604c9dd02fd4723cf92767a083
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