A decentralized autonomous organization or a DAO represents the idea that is traveling back and forth in the crypto community not long after bitcoin was released in 2009. In the way that bitcoin can function without an intermediary, future modern companies could one day operate without any hierarchical management, thus minimizing the risk of human error at such a high level.
Couple that with a decentralized infrastructure that aims to democratize data and you got yourself the Databroker DAO.
On Democratizing data
Unleashing the potential creativity with the use of sensor data to the masses will most likely facilitate the conversion of incredible ideas into value-adding services. By providing the blockchain foundational layer for the buying and selling of IoT sensor data, the sky is the limit when it comes to enriching the research field and organizations around the world. The benefits could easily downpour into raising the quality of life and our global society as a whole.
We are talking a global market for IOT(Internet of Things) sensors that has surpassed 600 billion USD per year with the included installation and maintenance fees and the acquisition of software solutions to interpret and enrich the output data. However, the end product of these sensors remains to be used only by the sensor owner or just perhaps enhanced with value-added insights and then resold to the highest bidder.
The current challenge
Companies, researchers, individuals and governments alike are spending billions each year on just buying and maintaining expensive IOT sensors. However this did not impede the staggering growth in the field, but for some, the high operating costs are a massive barrier to entry in the market. That’s why most of the acquired data is locked up in well-guarded data silos. According to specific market studies conducted in 2016, we had an approximate of 9 billion sensors deployed globally with substantial expected growth to 33 billion by 2019.
Regardless of the primary usage or enrichment and direct resale, the data remains mainly underutilized, and the impact on the society locked away in closed organizational silos. Hindering innovation and any big picture developments.
The Solution DataBroker DAO brings to the table
- Unlock the potential of currently inaccessible, low-value data merged into new transversal Value Added Services
- Enabling people with powerful ideas to rely on people with powerful operational resources thus closing the circle of sustainable innovation
In the financial markets, where the importance and value of company data have been evident for decades now, from data vendors such as Bloomberg Market Data, Thomson Reuters, FactSet, the same opportunity will emerge for the IoT sensor data market. Operation under decentralized foundational layer for buying and selling of IoT sensor data we expect that fresh new use cases of the data will emerge to create incredible value-adding services.
DataBroker DAO will connect sensor owners with purchasers of the data directly, utilizing existing infrastructure from telecommunication providers. Operating sensor connectivity network layers based on GSM, LoRa, SigFox or via a proprietary gateway of worldwide sensor owners