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This Startup Aims to Revolutionize the Way People and Big Data Companies Interact
September 5, 2017 News analytics big data Startup

 

The big data business is booming and is considered by many to be one of the most important innovations of our generation.  It is enabling organizations to optimize almost all areas of their operations.  From medical companies, to your local government, a huge number of organizations stand to benefit from big data usage and the improvements that are made in how it is analyzed.

Up-until-now, the problem from an individual’s perspective, is how they can benefit from the industry’s growth. As it stands, it is the companies who collect data from their users who benefit, generating vast profits.  To me at least, it seems unfair that the people creating all the data that contributes to this multi-billion-dollar industry, are not rewarded whatsoever.

Another issue behind Big-data is accessibility.

What is Datum?

Datum is a tech startup that plans on changing the way that companies with an interest in big data, go about acquiring it.  It will allow users the opportunity to sell the data that they generate directly to businesses through its mobile application.  It will also benefit buyers as the process of acquiring data will be highly simplified.

At launch Datum will be compatible with several social networks including Facebook, Twitter, and Instagram.   Opportunities in this field are endless when you consider the sheer number of innovations that are constantly being introduced.  As the platform is further developed, more supported applications will be introduced, enabling Datum app’s users to increasingly benefit financially.

The Datum Economy

 

Datum’s marketplace will be powered by its DAT coin which will be the currency that companies will use to buy data. Users of the Datum app will in-turn be rewarded in DAT tokens each time they sync one of their social media accounts.  DAT tokens will be exchangeable by users for hard cash and other real world items.

The value of DAT tokens will be determined by the market and there are plans to have the coin available on trading platforms where it can be bought and sold in the same way that Litecoin, Dash, and Etherium are now.

Datum Crowdsale

Datum is currently financing operations through the crowdsale of its DAT coin.  It enables individuals to get in early and essentially speculate on the success of the project and in turn the value of the coin itself.   A breakdown of how the funds that are raised will be used is shown in the image above.

Once the coin is tradable on the open market, it has the potential to rise in value as the mobile app gains traction and demand for the coin increases.  There will be a total of 1.5 billion tokens in circulation at launch but with the deflationary nature of the coin, this number will decrease over time as the tokens are used.  It is expected that with fewer and fewer coins being in circulation, this will also lead to the value of the DAT token increasing.

If you are new to cryptocurrencies then you might want to do some research into Etherium.  This is the blockchain that Datum is built upon, and the cryptocurrency that is used for taking part in the crowdsale.

This article was originally published on thelibertarianrepublic.com and can be viewed in full

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