What Is Observer?
Observer is an innovative platform for trading daily weather data. It utilizes blockchain technology, which ensures transparency in data management, convenient data trade, and efficient compensation. The platform allows individuals or private firms to make their own weather observations from anywhere in the world at a timely basis and submit the data to the platform.
The platform benefits various business sectors through the minimization of cost, maximization of outcome and the guaranteeing of safety. The business sectors include airlines, agriculture, travel, and leisure, power generation, insurance, financial investment and many more.
Observer Purpose And Composition
Observer aims at broadening weather networks by utilizing the smartphones, automobiles, aircraft, vessels, and private weather stations all around the world. The platform uses instruments that do not require users to have technical skills therefore individual and firms can easily collect and share data.
Observer’s ecosystem composes of buyers, data providers and the Observer Foundation. Once the data providers send their observations to the platform, the observation undergoes quality control by big data technology and meteorology experts.
The Observer Foundation that also manages the data and transactions also controls the data quality. After the verification of the observation the data providers receives their payment. Buyers can also purchase the data after verification. Transactions will be through blockchain to ensure transparency.
How Observer Blockchain Weather Data Station Coin Works
Payments on the platform will be through Royalty Token (ROT) and OBSERVER Coin (OBSR), which are stored in the Observer E-wallet. ROT will protect the copyright of the quality controlled data availed by data providers. When a user performs an observation, the Observer Foundation transfers the ROT tokens to their e-wallet. ROT tokens are therefore a record of the time, location, and value of the data.
Each time data is sold the data provider will receive payment. However if the data has little or no value they will not receive any more ROT tokens. The ROT token is not available on major exchanges but users can trade them among themselves.
OBSR is the utility token of the platform. It is the main method of transacting observational data and is listed on major cryptocurrency exchanges. Data providers receive the OBSR tokens when the quality of the data they submit is verified and each time the data is sold. The data buyers will have to purchase the OBSR from cryptocurrency exchanges and pay the Observer Foundation in order to access the weather data.
Transparency And Security Of Data
Observer’s two tokens implement blockchain technology, which means that the data is accessible by everyone but no one can alter the information, which is encrypted. The token therefore guarantees the security and transparency of the data.
Using of the OBSR tokens to purchase weather data is convenient as it eliminates issues that caused by using traditional payment methods such as fluctuating exchange rates.
As the demand for the data offered on the Observer platform increases, so will the value of the OBSR tokens which is beneficial to data providers as they receive better compensation.
Observer OBSR Token ICO Details
Parameters Of The ICO
- Token: OBSR
- Token supply: 10,000,000,000
- Token sale date: July 09 2018 – July 30 2018
- Exchange rate: 1 ETH = 100,000 OBSR
- Accepted payment method: ETH
- Soft Cap: 4,000ETH