DataBroker DAO, the IoT Sensor data marketplace on the blockchain, has launched its token sale on September 18, 2017. The company has been selling a wide range of applications, leveraging the blockchain technology to make a market for data gathered by a range of sensors. These sensors are the critical component of IoT systems and devices. The platform provides an opportunity for people, businesses, governments, and researchers to not just monetize the data produced by devices they have, but also purchase the relevant data from the community for analytics, research and other purposes.
The platform is aimed at becoming part of this massive industry with a huge potential for growth. With more than 9 billion IoT sensors worldwide, sensor-generated data is worth $600 billion market. Because of poor infrastructure for the data monetization, thousands of gigabytes of data are at present locked away in walled gardens and data silos.
How DataBroker DAO Solves this Problem?
DataBorker DAO solves this issue with the help of dApps and smart contracts and by presenting the decentralized P2P marketplace for the IoT sensor data. The model of the platform has been developed to cater the needs of sensor owners, sensor manufacturers, network operators, agricultural sector, smart city programs and academics. It offers an easy and secure access to conduct big data transactions using DATA utility tokens.
Patrick M. Byrne, the founder and CEO of Overstock.com, the parent company of Medici Ventures that has an investment in the company behind DataBroker DAO — Settlemint, says that for sensor owning businesses, the ability to utilize immutable ledger to save data, ensure data’s integrity and provide an easy and clear mechanism for data monetization is one of the greatest use of blockchain.
The company aims to raise fund by its on-going crowdsale with the hard CAP set as 11,250,000 DATA tokens. The funds will be used to develop the platform up to a readiness for v1.0 launch, and onboard suppliers and consumers of data. In addition, the company will use the funds to build the team and bear the operating costs involved.
To know more about the platform and participate in its on-going ICO, please visit https://databrokerdao.com/
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.