DataBroker DAO, a peer-to-peer marketplace for IoT sensor data built by SettleMint, has launched its white paper and announced its upcoming token sale, which will start on the 18th of September, 2017. The Databroker marketplace provides IoT sensor owners with a clear path to data monetization and data consumers with a decentralized marketplace in order to buy IoT sensor data.
Individuals, companies, researchers and governments are spending hundreds of billions each year on buying and maintaining IoT sensors according to Verizon and McKinsey studies. The growth of investment and applications in IoT is enormous, and yet, the data captured by these devices is currently firmly locked up in data silos and walled gardens.
The DataBroker DAO intends to bring change to this situation and unleash the potential of data that is currently inaccessible, moving data from uni-purpose to broadly accessible for the broad creation of value added services. As with the financial markets, where the importance and value of company data have been apparent for decades, giving rise to Bloomberg Market Data, Thomson Reuters, Fact Set and many data service vendors, the same opportunity will emerge for IoT sensor data via DataBroker DAO.
The DataBroker DAO Platform
The past few months the DataBroker team has been hard at work to build the working BETA platform. Leading up to the token sale, more and more of the code underlying the platform will be open-sourced. The core features of the BETA platform currently consist of the wallet functionality, the data streams listings, sensor (data) details and the dataset listings.
The core marketplace functionality is powered by an Ethereum smart contract, which enables the listing of the data for sale by IoT sensor owners and the purchase of the data by data consumers with an ERC20 compliant utility token.
The data sold on the platform is recorded on a private and permissioned Blockchain or
traditional cloud infrastructure. It is then subsequently anchored to a public Blockchain, such as the ethereum Blockchain to ensure the integrity of the data being bought and sold.
You can try out the BETA platform at https://beta.databrokerdao.com
What others are saying about DataBroker
“I was impressed by the DataBroker platform when SettleMint first provided a private demo to Medici Ventures in January 2017,” said Medici Ventures President Jonathan Johnson. “With the analysis of product-market fit for DataBroker that SettleMint has done in Europe, the Middle East and Asia over the past six months, and the continued improvement of the platform, SettleMint has made great strides towards commercializing DataBroker. I’m excited to see more in the months ahead. The sale of the DATA utility token for use in DataBroker DAO is well thought out and well-constructed. The DATA utility token is integral to the efficient economic functioning of the DataBroker DAO ecosystem.”
“The intersection of IoT and Blockchain is enormously promising,” said Patrick M. Byrne, CEO and founder of Overstock.com, Medici Ventures’ parent company. “For sensor- owning organizations, the ability to use an immutable ledger to store data, ensure its integrity, and provide a clear path to data monetization, is, a stellar example of the promise of Blockchain. The value of the IoT sensor market is greater than $600 billion USD per year, and is expected to double in the next 3 years, simply for primary usage of the data by the sensor owner! The magnitude and potential value of a marketplace for data-hungry third parties is staggering.”‘
The DataBroker marketplace has already been presented to great acclaim at global tech events including Blockchain Expo in London, Dublin Tech Summit, IoT World Paris, Smart City Saudi Arabia, IoTX Dubai, MoneyConf Madrid, Money2020 Copenhagen, TechXLR8 London, Tech Open Air Berlin, Unbound London and the Smart Dubai Office’s Blockchain Challenge.
DataBroker DAO announces early token sale
DataBroker DAO will be organising an early token sale starting on the 18th of september, which will be running for 4 weeks or until the hard cap is reached.
The token sale of DataBroker DAO is a so called multi-stage sale. Instead of offering all the available tokens at once, like many other ICOs have done in the past, DataBroker DAO will do an early token sale at which they’ll be offering 5% of the tokens (11.250.000 DATA) at a rate of 1200 tokens per ETH (20% bonus compared to main sale).
The goal of this early token sale is to bring the platform up to v1.0 readiness, and more importantly onboard a sizeable group of both consumers and suppliers of data. The proceeds of the early token sale will be spent on growing the team to 8-10 people ranging from business developers, community and development profiles. Additional spending will be allocated to operational costs like infrastructure, office space, marketing and legal expenses.
Once the platform is ready for public launch, and a sizeable group of both early consumers and suppliers are onboarded, DataBroker DAO will hold the main token sale in conjunction with the public launch of the platform. Rates for the main token sale will be set to favour early contributors by 20%. The main token sale will be 6-8 months after the early token sale and the proceeds of the main token sale will be used to scale the marketplace.
Interested to learn more about the DataBroker DAO token sale structure? DataBroker welcomes everyone on their slack or telegram channel to ask questions and discuss the platform & token sale with the team.