Dataeum (XDT): ICO Review

What is Dataeum?

Dataeum is a data generation platform which uses crowdsourcing in order to gather accurate and precise global data. Data collectors will use an app, created by Dataeum, with integrated ‘artificial intelligence and augmented reality technologies’ to accelerate the overall procedure, being rewarded for their input on the platform receiving Dataeums token, XDT. This method of data collection will Dataeum (XDT) ICOrevolutionize the current data market, whereby, large corporations such as Facebook collect users data and monetize on it, leaving the user with nothing. Dataeums mission for the data industry to be ‘decentralized, disintermediated, and incentivized.’

Aspects

  • Crowdsourcing: Dataeum and its data collectors will use a mobile application to collect any global data. Data can be anything from a restaurant or traffic sign, with further details such as location, opening hours and contact details implemented into it. This data can then be used by a vast market such as map applications and services, corporations needing to complete their mailing lists or advertising campaign. Even the government may need data for ‘statistical census’ of future plans to increase the overall standard of living.
  • Physical data decentralization: Dataeum wants to ensure transparency and reliability of data collected. In order to do so, Dataeum, have created a validation process to ensure, ‘integrity and verification’ of data when its available on the decentralized marketplace. This validation process includes ‘Proof-of-Existing data, Proof-of-Constant data, and Proof of Trust.’ Proof-of-Existing data compares data collected from two or more collectors determining whether they match. If data collected matches, then data is considered valid, both/multiple collectors will be rewarded for their input. Proof-of-Constant data is a tool for accurate and up to date data. Dataeum wants the data to be updated regularly so will reward collectors on their frequency of updated data. Proof-of-Trust depends on the data collectors update rate and verified data. The collector will receive a ‘quality score’ which can enable a trust level. A low-quality score will mean less trust, more time to receive rewards and fewer incentives, this works vice versa for a high-quality score.

What Issue Does it Solve?

Dataeum will constantly improve and innovate its application once further data is constantly collected which is only under a matter of time. Dataeum has the vision of collecting ‘ all elements of urban landscape’ to ‘optimize journeys’ even ‘identifying all pavements’ on the journey, therefore, Dataeum can ‘identify visual failures’ in ‘public space’ such as potholes on roads so that ‘local institutions’ can fix the problem. This type of vision can provide better welfare overall as that one pothole could have cost the public much more if it popped numerous tires.

Dataeum can also help the general public as they have the possibility of being data collectors as Dataeum rewards you for your service. Unlike the current data market where corporations sell users information for its own gain, an estimated $3.1 trillion dollars is spent annually on bad data, imagine a world where this money is spread across users globally, especially for the data collectors who present data to the blockchain.

Token Sale Information

Disclaimer: All information on this post is made to educate our readers. Don’t invest in any ICO unless you’re confident about its capabilities and do so at your own risk.

Bountyhive username: thetechinsider

Positives
  • Allows users to monetise on their delivery of data
  • Data is very detailed and updated
  • Fast and scalable to be global due to the apps inputted technology

Negatives
  • Too much detail in data could be used wrongfully in certain peoples hands

We will be happy to hear your thoughts

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