How Does Data Blockchain Work?
Information firms are massive companies that specialize in selling data to other corporations, such as market analytics, customer testing, and much more. Data Blockchain is an ICO that is looking to break into this industry and change the way it operates by using the blockchain, as you may have guessed.
The added transparency of operating on the blockchain means that they will fundamentally change the way that the data market operates. Along with this technology, Data Blockchain will also make use of AI to source the data in the first place, making for a much more efficient process.
What Problem Does it Solve?
- Data is too Expensive: Since data firms refuse to cooperate out of sheer mistrust, the cost of their information is severely inflated, which puts a drain on buying companies’ resources. Data Blockchain hopes to make their information available for a much more affordable price.
- It is too Hard to Find Relevant Data: Since finding pertinent information with human beings can be a bit of a slow process, Data Blockchain’s use of AI is another one of their innovative practices.
- Website: Here
- White Paper: Read
- Fundraising Goal: Soft cap: 10 million USD Hard cap: 50 million USD
- Accepted Token: ETH
Bounty0x profile: jeremycole
Disclaimer: The information on this post was made for educational purposes only. If you do plan on investing in ICOs, then do so at your own risk.
- AI Finds Data Faster than Ever: A data firm needs to be able to sift through large amounts of info and extrapolate what is required from it, and few things on this earth are better at doing that than computers. The use of AI allows Data Blockchain to improve their efficiency over other companies.
- Blockchain Creates Transparency: At the moment, most data firms are hampered by the complete lack of trust that exists in the information industry, and the blockchain provides a solution to that. With the added transparency of this technology, firms will have no choice but to cooperate or to sink alone.
- The democratization of Data: Instead of only the filthy rich being able to afford information, Data Blockchain hopes to make it slightly more accessible to smaller companies and even individuals who need it. Instead of the ultra-competitive market that exists in the info industry today, Data Blockchains advanced may be able to open it up a little bit.
- Large Investment: A massive undertaking like Data Blockchain may look incredibly promising, but they always have to be careful that they don’t crumble under their own weight. Ambitious projects like these need to be able to rake in investments as soon as possible, because they will burn through their startup capital quickly.
Data Blockchain is one of the more impressive ideas we have seen put forth by an ICO, and the most impressive part is that they present an original spin. Their ideas on how to manage data can help make the world a better place through more accessible information.