DataBroker DAO is a decentralized autonomous organization that aims to monetize IoT sensor data. Find out how the platform works today in our review.
What Is DataBroker DAO?
DataBroker DAO, found online at DataBrokerDAO.com, is a blockchain-based platform that wants to enable the monetization of IoT sensor data, turning sunk costs into perpetual revenue streams.
Basically, we’re surrounded by smart objects in our daily lives. Those smart objects – like smartphones and fitness trackers – collect information through sensors. A lot of that information is wasted or ignored. It’s used for a singular purpose in a silo, and cannot be used for any other task. DataBroker DAO wants to monetize that sensor data with an open marketplace.
The DataBroker DAO beta is available online today.
How Does DataBroker DAO Work?
The main goal of DataBroker DAO is to provide a distributed marketplace for IoT sensor data. The company aims to create the first blockchain-based marketplace for sensor data, bringing together all different participants into one place – including sensor owners, data processors, and network owners.
Here’s how the company explains it in their whitepaper:
“Today companies make use of sensor data to optimize and monitor their operations. The result is a single purpose data landscape. What if we could make this data easily accessible to cities, organizations and entrepreneurs at an affordable price? DataBroker drives the evolution towards truly ‘smart living’.”
DataBroker DAO doesn’t just want to openly share user data with the world. The company wants to create a marketplace where anyone can buy or sell that data. If you want to sell data from your fitness tracker to an advertising company, for example, then you’re free to do that. If you want to buy smart device data from all customers in one specific region, then you can do that too.
Or, in a more unique use case, farmers can purchase sensor data from DataBroker DAO to get a live look at weather in a particular region. They can use this information to increase the efficiency of their farming operation.
Ultimately, the DataBroker DAO website explains that there are 9 billion IoT sensors worldwide. Most of those sensors are under-utilized. Together, these sensors are worth over $600 billion per year. However, this value cannot be unlocked because the sensors are locked behind data siloes and walled gardens.
Use Cases For DataBroker DAO
One of the best ways to understand the value of DataBroker DAO is to look at use cases. Here are some of the use cases of the DataBroker marketplace:
Farmers can get reliable weather data in real-time from sensors placed across the country, increasing farming effectiveness and efficiency.
Universities and colleges can access data from millions of sensors at low costs, increasing the potential of research projects and opening up a wider world of data.
Environmental agencies can gather data from millions of sensors to understand environmental changes and where to act. Instead of relying on centralized weather stations, they can get instant, live looks at sensors in specific locations – from the tops of mountains to the middle of cities.
DataBroker DAO envisions a future where “Smart City initiatives can limit upfront cost of population towns with sensors and turn expenses into investments.” In other words, cities that install IoT devices with sensors can recoup some of the costs by selling IoT sensor data – like by selling it to environmental agencies or farmers.
The DataBroker DAO Token Sale
The DataBroker DAO token sale is scheduled for September 18 to October 16 (or whenever a hard cap is reached).
60% of the total supply of tokens is being sold during the sale, with an additional 5% sold during the early token sale. 20% of tokens are reserved for the platform, while 10% is reserved for the team and 5% is reserved for referrals.
1 ETH will buy you 1200 DATA tokens. The company’s goal is to raise 9375 ETH.
Who’s Behind DataBroker DAO?
DataBroker DAO is led by Matthew van Niekerk (CEO and Co-Founder) and Roderik van der Veer (CTO and Co-Founder).
Van Niekerk has previously founded and exited two companies in Japan. Van der Veer, meanwhile, built one of the largest e-commerce computer store websites in Belgium in 1999, then worked in IT. He co-founded SettleMint, a blockchain technology company, in 2016.
Benefits Of DataBroker DAO
DataBroker DAO aims to benefit three specific parties. Here’s how each of the three parties in the DataBroker DAO ecosystem will benefit:
Sensor owners can monetize their data and turn a sunk cost into a potential money maker. This gives sensor owners the opportunity to recoup some of their investments in IoT sensors.
Gain scale and speed in the adoption of their network as connected telecommunication companies can present a win-back to their enterprise accounts, giving them a clear unique selling proposition (USP).
Sensor manufacturers can stop “racing to the bottom” for production and pull resources and capital out of manufacturing, then allocate those resources to profitable SaaS offerings.
DataBroker DAO Conclusion
DataBroker DAO is a decentralized autonomous organization that aims to create a distributed marketplace for IoT sensor data. Today, smart devices are all around us – and yet most of the data collected by these smart devices is used for a singular purpose. DataBroker DAO envisions a future where users can sell smart device data on an open marketplace. Farmers can purchase environmental data from sensors across their local area, for example, while universities can access a network of highly precise data points worldwide.
To learn more about DataBroker DAO, or to participate in the ICO, visit the company online at DataBrokerDAO.com.