Databroker DAO: Global market for local data

SL HE

Today the growth of The Internet of Things (IoT) is believed to impact the way how business, governments or consumers will interact with the physical environment. IoT provides almost any organization with a unique identifier that gives the opportunity to transmit data over a web chain. Usually, the transferred data is sensor data — an output of a gadget that distinguishes and answers to the input from the real world. The output can be exploited to present info or input to other systems. This vast amount of info formed and transferred for sensing gadgets, provides enough information which is a test for companies and organizations. The expansion of IoT is fascinating but still the information gathered by these devices is confined and inaccessible. DataBroker DAO wants to make this info available to everyone at a reasonable price.

What is DataBroker DAO?

It's a platform that is constructed as a market for purchasing and distributing sensor data. In simple words, people are surrounded by smart objects, such as smartphones or other smart products and gadgets, they collect information which is ignored or used for peculiar reasons. Usually, the collected data is isolated in a so-called silo where it is confined and can't be employed for different purposes. The project wants to put this sensor data into circulation by using a blockchain based platform as a marketplace.

Basically, the platform is established as a place where you can buy and sell information. This is a first experiment ever conducted to use blockchain in creating a decentralized marketplace for IoT. By providing entities with such transparent market for purchasing and trading sensor data, DataBroker aims to give an opportunity to ingenious researchers or creative enterprises to make use of this data in order to invent products and gadgets that would improve the quality of life in our countries and societies.

How it works?

As it was mentioned, the info retrieved by the industry is restricted and isolated; using Ethereum blockchain, DataBroker will provide it for other entities for a reasonable cost to exploit in such spheres as education, healthcare, transportation etc.

The public Ethereum blockchain enables the management of a perfectly constructed financial and transparent ecosystem with the minimum of fees. The platform will directly connect information holders with customers, using the infrastructure from providers of telecommunication services.

There exist 4 stakeholders in the DataBroker DAO, such as information (sensor owners), data buyers, data processors and gateway operators.

The first group of people bought IoT sensors with an intention to boost the productivity of their transactions. Their main purpose is to distribute data using DataBroker.

The second group is users who will purchase the data on the platform. They may use this info in its unprocessed form for their own intentions or they can process and enrich it with additional value and resell it via DataBroker DAO. The use of such enriched data can be found, for example, in training Artificial Intelligence.

The third group is buyers who bought information with the purpose of enriching and reselling it. The enrichment of data may be achieved in many ways, such as simple data, smart data, and adaptive data services. Simple services provide with gathered info from different origins and contribute it in collected form. Smart data arranges calculated info in order to receive further insight from this data and assist the decision-making process, for example, Artificial Intelligence (AI). Adaptive services provide analysis to a customer's demand of data combined with data in a context store.

The fourth group is people who regulate the stream of the data over different networks. Their purpose is to disclose the gateway they conduct to enable sensor owners to sell their data on the platform.

Summary

In the current situation, companies and enterprises use sensor data for their own purposes, not allowing others to exploit it. DataBroker wants to improve this situation and to provide organizations with easily accessible data. The information bought using DataBroker DAO can be used for improving such industries as, agriculture, environmental studies. It can be used to improve healthcare, education, cities and the quality of life of many countries.