Ethereum technology can be used for many different purposes. Rather than develop multiple new cryptocurrencies, Dataeum aims to revolutionize the data generation industry. Putting humans at the center of a data-driven ecosystem is the top priority of this specific project.
The Vision of Dataeum
Finding new use cases for blockchain technology is not as easy as people may think. In the data ecosystem, there is a growing need for secure and immutable solutions, and preferably concepts which do not suffer from centralization issues. This is where Dataeum comes into the picture, as the project uses blockchain technology and crowdsourcing to achieve this goal.
How Does it Work?
The main idea behind Dataeum is to create a solution to collect 100% of any sort of physical data in the world today. Moreover, this must be done with 100% accuracy, which is not easy by any means. With the data market becoming a multi-trillion dollar industry, secure solutions will need to be found to keep all of this information safe.
According to Dataeum’s team, humans are now an instrument of data collection. That’s a rather interesting way of labeling things, although there is some truth to that statement. Dataeum aims to disrupt the existing paradigm to ensure that large corporations cannot exploit data generation any longer.
The Dataeum solution will allow data collectors to be paid for collecting data. This will be done through a mobile app which uses deep learning and AR. All information will be transparent at all times thanks to blockchain technology and smart contracts. Each piece of validated data will be available through a decentralized marketplace, letting token holders retrieve data accordingly.
The Dataeum Token
One cannot have a new blockchain project without a new token or native currency, by the look of things. In the case of Dataeum, the project uses the XDT token, which is to be sold during an upcoming crowdsale. XDT will be used by holders to collect information from the decentralized marketplace. It is also the currency which will be used to reward new and existing data collectors.
There is still plenty of work to be done before Dataeum can become a mainstream project. As of right now, the team plans to open the platform to data collection in Q4 of this year, and the marketplace will not go live until Q3 of 2019. There are a lot of interesting things to look forward to, but always do your own research before making any investments.