The role of data in business and consumer interactions has become a valuable and almost vital component of many of the services people operate day to day. From the customization of payment and insurance plans, to the specific targeting of ads and features based on customer data. Understanding consumer behavior has never been more important.
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The pitfall of this large data collection mentality are questions like “who owns the data”?, “Who has access to it?”, “How is it being used?”, and “How do some companies get a hold of customer data that they’ve had an interaction with before?”. When questions like these go unanswered it creates a fissure in the trust consumers have when conducting business with companies, especially ones online.
Cultures like these have given rise to the age of decentralisation, where power is being restored back to the people, who are being given a greater influence on the management of their behavioural data, and the role of blockchain technology is enabling this to great effect.
DATx, a new blockchain initiated by Cosima Foundation, in partnership with leading advertisement platform Avazu, have decided to tackle such an issue. Leading the charge on decentralized behavioral data utilization. Avazu has a good history of effective and global advertising coverage, and they understand the current ecosystem of fragmented and cluttered user behavioral data, they’ve seen the difficulty in utilizing it properly and honestly. That is why DATx was developed to tackle this issue.
Bringing a renovated approach to advertising, DATx introduces a new smart advertising ecosystem, with decentralization as the foundation and artificial intelligence as the power engine. Foremost they provide remote storage of user behavior data, in a decentralized network at which users can acquire and access from anywhere. These records can simulate whole user personas to learn the business insights underlying the various user views, clicks and purchases. Creating what some experts call a “digital halo” effect.
DATx will address delay times in data input and proof of stake consensus that allows block producers to maintain control of the network, and prevent stakeholders from suffering losses in the event of network issues. The advertising ecosystem DATx will deliver has responsive large volume advertising algorithms that can deal with large numbers of users, understand behavioral patterns and preferences and target accordingly.
DATx will develop itself from user-orientation behavior archiving to using that data to develop protocols that recommend content and enhance value creation through its advertising ecosystem.
DATx core team members comprise over 80 engineers, product managers, architects and UEX experts, while other key members for the development of DATx include senior executives from Avazu. Its official cryptocurrency, DATx token, is now open for sale to institutional investors, with a total of 10 billion DATx tokens issued.
To learn more, visit the DATx Website: https://www.datx.co/
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