The New Backbone of Data
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It’s no secret to anyone that the amount of data produced by humanity is growing exponentially. So much so that even 5 years ago the current statistics would seem somewhat fantastic.
According to a recent Forbes article by Bernard Marr, there are 2.5 quintillion (i.e 2.5 billion billion, if you wish) bytes of data created each day at our current pace. That being said, our pace is nothing but accelerating: over the past two years alone 90 percent of data in the world was produced. The data market is now estimated to be worth more than 3 trillion dollars.
Big data has not only become a significant (although somewhat hidden) part of our daily lives, it is now one of the major concerns for executive officers and state officials. Organizations —big or small— use data to understand their customers’ buying behavior and suit their preferences with never-before-seen precision. Artificial intelligence and machine learning help to automate a multitude of tasks and governments don’t hesitate to seek their assistance to improve the infrastructure of their communities.
“I keep saying that the sexy job in the next 10 years will be statisticians. And I’m not kidding,” — Hal Varian, Google’s Chief Economist
There is no lack of importance being placed on data collection and how it will shape our future. However, despite the inevitable rise in data quantity, its quality still leaves a lot to be desired.
Some companies have built their business model around physical data — that which consists of all the visual elements individuals interact with: stores, administrative buildings, roads, vending machines — you name it. Yet, it’s the type of data that is most often incorrect. We observe this with physical stores: in the US, around 40% of them have at least one incorrect or missing address listed online, which leads to an estimated $10.3 billion loss in sales.
A study shows that up to 90% of Facebook’s physical data is incomplete, missing or incorrect at all, and only 8% of map pinpoints are accurate.
Fortunately, there are companies that offer inventive new ways to improve the quality of our data.
Dataeum provides an innovative solution to collect 100% of the world’s physical data using crowdsourcing. Their solution rewards those who collect and verify data with own XDT tokens. Data will then be made available for exchange within a decentralized marketplace in a fully transparent manner between both collectors and exploiters.
Backed by the blockchain technology and smart contracts, the Dataeum application will pave a way for the generation of data with unmatched quality and reliability.
“We made a shift towards blockchain when we realized that this technology could solve all the problems regarding transparency, traceability, and immutability of the data provided,” — Billy Pham, Co-Founder & COO of Dataeum.
The team does not hesitate when asked about crowdsourcing application and the meaning behind “putting humans at the center of the data economy”.
Physical data may be extremely useful for geolocation services and B2B companies, but the company’s purpose extends way beyond that, ultimately leading them to sectors they had never planned on reaching. A good example of that would be their recent partnership with Action Contre La Faim (Action Against Hunger), a non-governmental organization with a rather evident and noble mission. Thanks to crowdsourcing, anyone with the Dataeum App can collect any type of information on the field, i.e. places in need of food or medicines, road conditions, water points, infrastructure et cetera. With all this finally, on map, humanitarian assistance will be easier to provide than ever. If everything goes according to plan, the application will be released in Q4 2018.
“Dataeum is a real revolution in the digital and blockchain space because it enables to place humans back at the center of the data generation. But we didn’t want to stop there.
Crowdsourcing has infinite possibilities because today we realize that a large amount of information can only be collected through us individuals. And this is the case here. There are plenty of regions concerned, that are difficult to access, with many restrictions, where the access to information is also very limited. We can help local population by allowing them to be rewarded every time they collect the requested data, but we can also help them on a larger scale by becoming the single platform that provides all the information collected on the field, and valuable to them.” — Charly Pham, Co-Founder & CEO of Dataeum
To reach their ultimate goal, the team has decided to conduct an ICO — a Crowdsale for everyone who wants to purchase their tokens. Details are as following:
WHITE PAPER: https://www.dataeum.io/#white-paper
PRESALE: January 21, 2019 — February 24, 2019
CROWDSALE: March 4, 2019 — April 7, 2019
You will be able to buy 12 000 XDT tokens for 1 ETH or its equivalent in Bitcoin and USD.