What is a DAO?
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
DAO is another wonderful and an amazing technology of blockchain @danizaharie.
DAO are just the digital version where all rules and regulations are written in the source code rather than the piece of paper. They are executed by thousands of people/computers together through some consensus based algorithm. The platform where the DAO runs is called Blockchain. The most common case where the DAO can be written is Ethereum Blockchain. In Ethereum, they are generally written in solidity language. In the DAO, Each action or vote is represented by form of transaction in Blockchain.
Here the members are represented by address. These addresses can be owend by a human, a robot, an IOT device or even another DAO.
Each member is given a token which represents the shares of DAO. These tokens can also be used to vote in the DAO to take a certain decision. The token is nothing but another kind of contract sunning on top of blockchain. The more token an address has the more control hi will have on the DAO.
Thanks for sharing this informative and useful post.
DAO is an innovative decentralized market for IOT sensors. First and foremost DataBroker this is completely new and a bold idea, it is the only one of its kind. Its main advantage I see that it can meet the growing world demand for sensors.
Why am I talking about the growing demand? All because it really grows and the company spends a lot of money annually to buy and service sensors.
Secondly, the main task of the DAO as a market is the ability of the owners of these sensors to turn the processed data into money. It sounds incredible but nevertheless it is. Now the owners of the sensors will receive a reward for the data being processed.
Thirdly, you still have the opportunity in the future to purchase pre-sale tokens or the main sale of tokens to purchase tokens at favorable terms.
Apparently this is another innovative project that promises to be successful this year. Thank you
Nowadays, companies use sensor data to monitor and optimize their operations. Through the use of a block circuit DataBroker allows the owners of sensors to turn the flows into money. This opens up wide opportunities for different areas.
What betrays itself DataBroker or DAO? This is the first decentralized market for the purchase and sale of sensor data. DataBroker makes the sensor data available to cities, pre-graduations or individual entrepreneurs at an affordable price.
Soon, on March 19, the pre-sale sale of tokens begins. The minimum purchase price is 10 Ethereum. All buyers of tokens will receive a bonus of 50%. Not bad, right?
Since March 26, the main sale of tokens will be conducted and will end on April 23. During the sale, the referral program will operate and you will be able to get a good bonus by bringing your friends.
Judging by the schedule of investments in the area of purchasing and servicing these sensors, we can make a simple conclusion - this is a promising area and the company is waiting for guaranteed success.
More information you will learn by reading the white paper.
Thanks for the useful information
Today, it's difficult to change a DAO, or the smart contracts underpinning it once it's deployed to the ethereum blockchain. This is "good," because one person or entity can't change the rules.
But it's also potentially a huge disadvantage. If someone spots a bug in a running DAO, developers can't necessarily change the code.
Your Posts are golden.
Yeah. I think writing down might have its advantages as well as disadvantages too.
When writing, you might not really get to pit down everything in the head.
But then in a video or an audio, u can get to say everything that comes to the mind.
But currently, I do more of writing cuz I'm not all that pretty to appear on a video. Lol.
Thanks for sharing
The best-known attempt at creating such an organization was called "The DAO." Launched in 2016, the project failed in a matter of months, but it's a good example of what people have in mind when they talk about the technology.
The plan was for participants to receive DAO tokens, then vote for which projects to fund. For selecting projects to invest in, it relied on the "wisdom of crowds."
I like the principle behind DataBroker DAO, a peer-to-peer marketplace created to provide IoT sensor-owners with a clear path to data monetization, and data consumers with a decentralized marketplace in order to buy IoT sensor data. With a booming market, by 2016, the market for IoT sensors surpassed $600 billion per year, and is expected to grow to $1.2 trillion by 2019. So many opportunities, IoT / blockchain is enormously promising. Very interesting ICO. Thanks for sharing @danizaharie
I really don’t know much about DAO and also the history of cryptocurrency market but I want to from you guys.i learn many things by your post which is really informative.thanks for sharing sir.
yeah pretty much everything gonna shift to blockchain world in future. I'm pretty excited about databroker too cause it gives an incentive to the data we have in real world. It is trying to abridge both the technologies now.
$600 billion yearly for IOT sensors? That's a very huge market, even with the potential of a future growth which is bound to surpass that figure. Great research work ! Thanks @danizaharie