In the world of blockchain, as well as in the business world in general, not all the ambitious plans and grand claims become a reality and materialize into actual finished products. Competition is fierce in this rapidly growing sector, and, unsurprisingly, not every company or platform achieves real success.
DataBroker DAO, a decentralised marketplace for Internet of things (IoT) sensor data, is surely aiming to be on the winning side of history. This week, the IoT platform has announced the official launch of its flagship IoT sensor data marketplace in Dubai, ahead of a number of expos taking place in the coming months.
DataBroker DAO represents itself the creation of SettleMint, based in Belgium and Dubai. SettleMint aims to make blockchain technology accessible for organizations of all types. DataBroker DAO’s developers claim that the blockchain-based peer-to-peer IoT sensor data marketplace is a unique phenomenon – the first of its kind in the world. The platform will allow sensor owners to monetize the data they have generated, potentially creating opportunities for a range of industries.
The company believes that data will become more effective and valuable. In fact, according to the DataBroker DAO team, the platform could even result in scientific breakthroughs, as the company has already identified many sectors which could benefit from it.
DataBroker DAO’s native token is the DTX. Despite not quite reaching the target of 108 million DTX in its extended token sale, it entered into several important partnerships. In addition, it consulted governments and communities worldwide to find out how DataBroker DAO could be best used to help find solutions to major problems, for example waste management etc.
DataBroker DAO will have a presence at multiple expos and events over the next few months. One of the most notable ones is the Smart City Expo World Congress in Barcelona, a massive gloabal event that will run from November 13th to 15th, 2018. DataBroker DAO will be discussing ways to use smart technology to improve urban life.
With IoT technology, a core component of the emerging Fourth Industrial Revolution, it’s unsurprising that many nations are gearing up for integration. As China leads the world in IoT sensor data and hardware, DataBroker DAO is focusing heavily on the Chinese market. The current value of this market is roughly CNY 500 billion (USD 80 billion), with an increase of 20% to 30% forecast by 2020. With this much to play for, DataBroker DAO undertook a roadshow with the aim of increasing its presence in China.
It is often said that ‘data is king’. It is certainly valuable – and arguably becoming more so, as people become increasingly linked to networks of all kinds. If DataBroker DAO can make good on its promises and evolve into an industry-standard global marketplace for the trading of all types of data, the company behind it could stand to reap significant rewards. Perhaps more importantly, the benefits for the global scientific community – and therefore, indirectly, ordinary citizens – could also be great.