A Closer Look at Databroker Dao
Databroker Dao is a blockchain-based platform with a noble goal of allowing sensor data owners to monetize their data. It is indeed quite problematic yet challenging for the sensor data owners to find someone who is willing to pay for their data since the market for sensor data indeed is highly niche; only those who know what to do with the data are willing to spend money on it.
This is the very reason why Databroker’s existence means a lot to these people. This platform acts as a marketplace in which the sensor data owners and seekers meet. Upon meeting, these people may proceed to transactions involving the data they agree to put in line.
Thanks to the adoption of blockchain technology, the transactions going on between them are fully reliable and secure, so is the data being transaction. Databroker Dao indeed offers a win-win solution for both data owners and seekers, as sensor data is rarely channelled effectively and, most of the times, being wasted.
How Databroker Dao Helps?
Databroker Dao helps data owners monetizing. That alone is a strong emphasis on how the business operates and markets. Through Databroker Dao, people and businesses who generate IoT sensor data may take the profit out of it by offering it to other parties.
They could post their data on the database and wait for someone to respond to what they sell. If someone happens to be interested in their data, he or she could simply make an offer and wait for it to be responded by the data owner. During this process, both data owner and buyer may check each other by using the blockchain technology to scan the other party.
If there is a deal between data owner and buyer, then the transaction will be locked. Thanks to the smart contract feature available on the platform, both seller and buyer of the IoT sensor data could be assured that their transaction, along with the data, is legal and secure. This surely boosts Databroker Dao’s integrity and reputation.
Further Possibilities
The team of Databroker Dao has mentioned in the business’ whitepaper that among the stakeholders they had identified in the ecosystem, network operators are included. These operators would define a protocol that enables the data transmission between the parties of data transactions on the platform. This role is similar to the role of a telecommunication company providing the network for device connectivity.
By focusing on the niche monetization of sensor data, it would be easier for the Databroker Dao team to specify its target market, as well as deliver its branding and advertising strategies. However, considering that the people who would be involved in the marketplace are quite limited, Databroker Dao should be very specific in marketing its services.
Being too general will throw Databroker Dao team to an unnecessary competition against, probably, more well-established players. By identifying and specifying a specific target market, the team would be capable of limiting their marketing scope to deliver efficient operations.
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