LEUVEN, Belgium, Sept. 19, 2017 /PRNewswire/ -- DataBroker DAO, the decentralized marketplace for IoT Sensor data, with a broad range of applications has announced the dates has opened their early token sale. The campaign, divided into two phases has gone live on Sept. 18, 2017.
DataBroker DAO leverages the blockchain technology to create a market for data collected by a variety of sensors that are integral to the IoT devices and systems. By doing so, the platform offers an opportunity for individuals, companies, researchers, and governments to not only monetize the data generated by the devices they own but also purchase the relevant data from the community for research, analytics and other purposes.
The platform is catering to a growing industry with an enormous potential. With over 9 billion IoT sensors currently operational around the globe, the data generated by these sensors represent a $600 billion market. However, due to a lack of right infrastructure for monetization, hundreds, if not thousands of gigabytes of information are presently locked away in data silos and walled gardens.
DataBroker DAO, with the help of Smart Contracts and dApps, solves the issue by presenting a decentralized peer-to-peer marketplace for IoT sensor data. The platform's model is designed to benefit sensor owners, network operators, sensor manufacturers, smart city initiatives, agricultural sector, and academics by providing secure and easy access for conducting "big data" transactions using DATA utility tokens.
The CEO and Founder of Overstock.com — the parent company of Medici Venture which invested in Settlemint (the makers of DataBrokerDAO), Patrick M. Byrne said, "The intersection of IoT and blockchain is enormously promising. For sensor-owning organizations, the ability to use an immutable ledger to store data, ensure its integrity, and provide a clear path to data monetization, is a stellar example of the promise of blockchain. The value of the IoT sensor market is greater than USD 600 billion per year, and is expected to double in the next three years, simply for primary usage of the data by the sensor owner! The magnitude and potential value of a marketplace for data-hungry third parties is staggering."
With full-fledged development underway, the team behind DataBroker are in the process of raising funds through the upcoming crowdsale. The first phase, Early Token Sale which has gone live on Sept. 18, 2017, and will go on for a month or until the hard cap of 11,250,000 DATA tokens is reached. The total number of DATA tokens on sale during the Early Token Sale makes up to 5% of the total supply and participants in the sale can purchase them at a rate of 1200 DATA/1 ETH (at a 20% bonus compared to the main sale).
The proceeds of the Early Token Sale will go towards bringing the platform up to a readiness for a v1.0 launch, as well as amass consumers and suppliers of data. Furthermore, the funds will be used to assimilate a team of 8-10 people, while coverings additional operational costs needed to create a platform in the very lucrative market of IoT data.
The main token sale will occur 6-8 months after the early token sale and will be used to scale the already operational marketplace.
The DataBroker DAO IoT sensor data marketplace is built by SettleMint, a Belgium-based software company offering blockchain applications as middleware for companies.
Learn more about DataBroker DAO at – https://databrokerdao.com
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Access Blog at – https://medium.com/databrokerdao
Contact Name: Dylan Damsma
Contact Phone: +32 476 999 539
Contact Email: firstname.lastname@example.org
Location: Leuven, Belgium
DataBroker DAO is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
SOURCE DataBroker DAO