Introduction of the decentralized data market Datareum "Information is oil of the 21st century, and the analyst is an internal combustion engine."
Peter Sondergaard. Research by Gartner. If the information is oil of the 21st century, then each of us sits on an oil well.
We all generate absurd amounts of data in the course of our daily lives. Every (electronic) purchase we make, every Google search we do, every site we look at, where our index is directed to each of the websites, every publication on social networks that we see, comment on, share , how, we skip, pause and watch for more than half a second - all this is recorded in exponentially growing global databases.
The speed of data production is increasing, so according to IBM Marketing Cloud study 90% of the data currently on the Internet was created only in 2016. And as more and more devices - such as sensors in your Fibit, your smart refrigerator, and your Alexis tops - are connected to the Internet, the production data will only accelerate.
All this data matters. Nowadays it is used mainly for marketing and scientific research, but increasingly, it is used to make useful suggestions and predictions about oneself and to feed artificial intelligence that will eventually become the most valuable things ever created.
But all this in the far future. While the true value of the data is mostly not in our power - none of us could not get away with the profits that they received in the end. IDC research shows that 90% of the data obtained so far is still unstructured, which means that it is difficult to derive any tangible meaning from it.
What structured data we have mostly not in our personal control. Data Warehousers, such as Facebook, Google and Amazon, use it to make a huge profit.
Then there are the "Data Brokers" who scrape everything they can, and sell them to the highest price.
The result: almost all these precious data are beyond our control and capitalized by others.
But changes are taking place on the horizon, and this happens in the form of a move towards decentralization.
The growth of the exchange economy has led to the emergence of a new stage concerning the nature of property.
This movement is from centralized corporations and the government as information or money custodians, to decentralized peer-to-peer interactions.
This decentralization movement has recently received a huge boost thanks to advances in cryptography and even more recent growth of cryptothermines.
Now, for the first time, you can exchange the value on the basis of a peer-to-peer network without the need to use a trusted authority. As we know, the first application of this was money in the form of bitcoins and other peer-to-peer crypto conversions. Decentralized money is really revolutionary, and it will have a huge impact in the coming years and decades, but money is just the first application. This technology allows us to exchange the cost of any kind. All that is needed is the infrastructure and network that allow this to happen.
Infrastructure, allowing to conduct data trade, is that we aspire to build in Datareum. Our long-term vision is a world in which data providers completely control the data they produce, and data users have access to ethical sources,
structured data at a fair price. In this world, providers will be fairly compensated for the value of their data, and researchers of all kinds will have access to the high-quality data they need. To provide this vision, we are creating a decentralized market for peer-to-peer data networks: the Marketplace Datareum.
Although our long-term vision is magnificent, we recognize that it is very important to start small.
Just like in the early days of the Internet, many great ideas were too soon for their time, in the newly emerging world of block chain / decentralization, which people call Web 2.0, many, perhaps, the most ambitious projects are doomed to failure.
Determined not to fall into the category of failures, we largely learn from the multi-year R3 research study for several weeks (the world's largest research program of this kind so far) in the likelihood of the success of this block block project. We are developing our platform - both in its original form, and in the long term implementation of additional functions - to meet the recommendations of the report. Key recommendations:
• Provide an integrated application architecture, messaging, document management and data management.
• Build on the basis of existing technology a "mega-ecosystem" to maximize skills and reuse of code.
• Eliminate unnecessary data by "silos" to unlock new business opportunities, allowing real assets to move freely between all legitimate potential owners.
• Implementing the identification of a legal entity in the programming model to provide legally feasible and secure transactions.
• Enable the inevitable transition to the public cloud, without requiring high technology rates.
Taking these recommendations into account, we identified online surveys as a suitable starting point for our decentralized data market.
The inherited industry of online surveys is a good target for violating a decentralized model, because:
• It does not have guaranteed security and confidentiality of information.
- The collected information is stored on centralized servers and, as such, is vulnerable to hacking. Having joined the membership site, there is a good chance that users have allowed him or his "marketing partners" to request them.
• There are potentially several levels of intermediaries.
- Online surveys conducted online are usually conducted by market research companies acting as intermediaries between the client company and the data provider.
These companies engaged in market research, in turn, can use small companies to conduct surveys for them, adding another intermediate level. Even if the payments of the original client companies are generous, many layers of commissions reduce profits for all participants.
• There is a high degree of payment friction.
- Due to high transaction fees in existing banking infrastructures, minimum payments are often set at prohibitive levels. Payments are in most cases only available to residents of a particular country. Payments are usually offered in the form of vouchers, not cash.
The decentralized online survey market, built on the blockchain architecture, has the potential to address the above problems, offering secure peer-to-peer access between data providers and data providers.
The market must contain all the necessary incentive mechanisms to ensure its distribution.
We have put them in our technical paper and will soon publish a resume in this blog.
TO GET MORE INFORMATION: Website: https://datareum.net
Telegram: https://t.me/datareum
Twitter: https://twitter.com/datareum
Medium: https://medium.com/datareum
ANN Thread: https://bitcointalk.org/index.php?topic=3189049
Whitepaper: https://www.datareum.net/whitepaper.pdf
Facebook: https://www.facebook.com/datareumdtn
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