Over the past months the DataBroker team has been working on developing a working version of the decentralised marketplace for IoT sensor data and showcasing the platform to many potential partners and on various conferences to gather feedback to improve the concept. Today we’re excited share with you the release of our whitepaper and the announcement of our upcoming early token sale.
The problem we’re solving with DataBroker DAO
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 truly staggering, and yet, the data captured by these devices is currently firmly locked up in data silos and walled gardens.
The amount of money spent on IoT is truly staggering as is the number of devices already deployed. By 2016, the global market for IoT sensors surpassed 600 billion USD per year, which is expected to grow to 1.2 trillion USD per year by 2019. This includes the purchase, installation and maintenance of sensors and the software packages to interpret and enrich the data. By 2016, there were no fewer than 9 billion sensors deployed globally, which is estimated to grow to 33 billion by 2019.
Enabling the monetization of IoT sensor data, turning sunk costs into perpetual revenue streams
Before DataBroker DAO, there was no clear path to IoT sensor data monetization. Whether for primary usage or enrichment and direct resale, the data remains grossly under-utilized and the utility for society locked away in closed organizational silos, stifling innovation and holding back societal improvement.
DataBroker DAO unleashes 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. Doing so with a distributed foundational layer for the buying and selling of IoT sensor data DataBroker DAO will unlock unimagined uses of data to create incredible value adding services that will enrich the quality of life in our cities and our societies as a whole.
DataBroker DAO is the first marketplace for IoT Sensor data that will connect sensor owners with purchasers of the data directly, utilizing existing infrastructure from telecommunication providers operating sensor connectivity networks based on GSM, Lora, SigFox or via a proprietary gateway of the sensor owner.
In a sense, the DataBroker DAO can be likened to a “secondary market” for IoT sensor data and has been referred to as an “eBay” or “Amazon” for IoT sensor data. If you’re interested to learn more about the various use-cases and technology that enables the functioning of the platform, we’d like to invite you to read the whitepaper.
Try the BETA
As we have been actively working on the platform since last year, we are eager to share the beta version of the platform with you so you can try it out for yourself. We are eager to improve the user experience so any feedback that you have to further enhance the platform is greatly appreciated. Head over to https://beta.databrokerdao.com for a “test drive”.
The DATA Token
The DATA token is integral to the cost effective functioning of the DataBrokerDAO platform and is beneficial over fiat or ETH as it allows us to use the divisibility that is needed to operate micro transactions in a market with over 9 billion devices producing data readings every second. Having this abstraction layer on top of ETH also prevents the token from being subject to (potentially) large fluctuations of the ETH price. The volatility of the DATA token is expected to be more limited and can be controlled via market making operations using reserved funds and tokens
The DATA token, which is an ERC20 compliant token, is the utility token used in the Databroker DAO platform. The token will serve as the unit of value to buy and sell sensor data within the platform.
What’s next for DataBroker DAO & the community?
We’re excited to announce to you the public release of the DataBroker DAO whitepaper, we hope this will give you an opportunity to learn in detail what the DataBroker marketplace is all about. Up next is our early token sale, which will be held on 18 September 2017, 4PM UTC.
The goal of the early token sale is to bring the platform up to v1.0 readiness, and more importantly, to onboard a number of of both data consumers and data suppliers who have expressed strong interest in joining the DataBroker marketplace early on. The proceeds of the early token sale will be spent on growing the team to 8–10 staff ranging from business developers, community and technical development profiles. The main token sale will be held together with the public launch of the v1 of the databroker platform.
Please note, our vision for DataBroker DAO is maturing and we want you to be a part of the process; we eagerly welcome all feedback and suggestions. To share your thoughts or to learn more about DataBroker DAO, come chat with Matthew, Roderik, Els and I directly on Slack or Telegram. We look forward to seeing you there!