Datum as a network which protects users' personal information

PUBLIC SCOPE

The widespread usage of the internet has become a leverage for many internet based companies that really require the personal data of the public to excell in their businesses. Many advertising companies for instance use peoples’ data inorder to know the kind of product to be advertised to a particular individual. So to achieve this, they liase with big social network platforms like Google and Facebook because they know this two are constantly the custodian of people’s data. However, the unknown fact to the owners of these data is that these datas of thiers are being purchased from these big giant companies, to acquire them, and the users themselve aren’t benefitting from this monetizing of data. So there should be a way to return ownership of this data to their owners so as to put them in charge of their personal data and monetize it at will. For this reason, DATUM is established.

ABOUT THE PROJECT

This platform is one in charge of users data, with the aim to secure and give total ownership of data to owners so as to monetize it at their own will. It establishes a decentralized data haven, having known that data is very essential for use by many companies today. Its a pity that so many people don’t know the value of their data, however, this ignorance has made many organizations to take advantage of their ignorance since they know how important it is to their business. But now, this network is going to sensitize people to know how valuable their personal data is, and how they can sell them or share with other entities for reward. Meanwhile, this network allows users to store so many information ranging from user’s well constructed data from their social media pages to smart home data, internet of things data and user’s wearable personal data. More to this, users will be able to share or sell their personal useful data to entities of their choice on this platform, and this can be done anonymously as the user desires it.

THE EXPRESS MARKETPLACE PROVIDED BY THIS PLATFORM.

Talking of the trading of users data, this project has designed a well structured marketplace for this activity and this is done simply. In this marketplace, users are required to first tender their data and it is secured under the monitoring of the platform. Following this step is the activity of the storage node miners, who keeps the data safe in their seperately assigned node for each data. However, this project fashioned the buying of users’ data in such a way that the buyers get the data from the nodes, and the nodes are filled with the DAT token in return as a means of payment for the data. This process is controlled by smart contracts which monitors the overall activities.

CONCLUSION

Thus project promises it aspiring users a well secured place to house all their data and make good use of them as they please. This idea of revolutionizing the data industry will sensitize all internet users and will increase the overall value of data in the world today. Finally, all the benefitting features of this network will be provided in the mobile app to allow easy usage and for easy trading of data on the platform.