With different decentralized marketplaces coming online every day for different things ranging from music to logo design, it was not long before a token using marketplace related to data market would be invented. This ICO and the platform is near and dear to my heart because I use SAS to analyze data and I love it. The market aspect of the platform includes buying and selling data and it can accomplish anywhere in the World because it uses the ERC20 compliant token DTX, which can be transferred in seconds with little or no transaction fee. This could be useful for researchers like me, for data hunter companies that need this type of data to correctly address the customers, or simply the data collectors or retail companies of these devices who want to sell the data for money. For example, let’s imagine a company in the near future that is selling smart grass mowers that can sense the humidity on grass and can adjust the height of the machine, or warn the owner for the weather. It can tell the customer how he should mow his lawn now as it will be rainy tomorrow or can tell him not to mow the lawn as the land is still wet and too humid from the rain. Because this is all accomplished by using wifi and the internet, this sensor data can be collected by the lawn mower company and it can be sold to the fertilizer company. Then the fertilizer company can target this customer or his neighbors with appropriate fertilizer commercials. As a customer, you will get correct fertilizer advise and a targeted commercial, as opposed to the random bombardment of different commercials. The lawnmower company can sell its sensor data on the market for researchers as well, and lets say somebody in horticulture science can use the sensor data, analyze it statistically and see if customers who have the type A machine have better lawn than the customers who have the type B machine and write a paper on whether the differences are statistically significant. This, in turn, will help the lawnmower companies produce a better product and this can all be done without running expensive trials, right on the field. Data scientists can use the data for advanced charting and complex statistical models, and even machine learning algorithms can be produced to evaluate the data and train an AI. Classification of customers is only one aspect of the data use and people will find more creative uses as time goes on.
Here is a short video explaining what this is:
One huge advantage of this marketplace would be that it will be on the blockchain, and it will be on an immutable public ledger, so all transactions will be transparent and any wrongdoing by the companies in terms of their customer data will be traceable. Therefore, it is way better than a database. In addition, because it will be on the blockchain, the records cannot be hacked, they cannot be changed, modified or manipulated for any reason.