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Datareum – a decentralized marketplace

Datareum is a decentralized marketplace that will enable individuals to monetize their personal data, selling it directly to market researchers, academic researchers, and other interested parties. Built on the Ethereum public blockchain, Datareum’s platform will facilitate this peer-to-peer transaction of sensitive personal information securely, without the risk of hacking. Using online surveys as a starting point for building the marketplace, Datareum will employ incentive mechanisms that, over the long-term, will ensure the
availability of superior quality custom data, providing an indispensable tool for researchers of all kinds.

Data in Silos

Companies like Facebook and Google already make billions because they know everything about us via their online habits. Most of the information collected by these “data custodians” remains out of reach of both individuals and researchers. This means that they are missing out on the potential value of that data. Beyond strictly monetary value, this data may contribute to the advancement of society itself by giving academic researchers the required information to conduct studies.There’s even a case to be made that the data they  generate may one day be used to make important predictions about ourselves, such as whether they are at risk of heart attack or mental disease.
Additionally data custodians typically use the gathered data to attract advertisers but, among advertisers,there is a growing feeling that data custodians should relinquish control over the data generated on the platform considering it’s the advertiser’s products being bought and their ad dollars being spent that enable the data custodian’s platform to function in the first place.

BUILDING A SUCCESSFUL BLOCKCHAIN ENTERPRISE SOLUTION

Drawing on the lessons 14 from R3’s multi-year collaborative blockchain research investigation (the world’s largest research programme of its kind thus far) into the likelihood of success of a given enterprise blockchain project, the Datareum ecosystem is designed to satisfy in both its initial form and long term rollout of additional features, the key recommendations of the report. These are:

  • Provide an integrated application, messaging, workflow and data management architecture.
  • Build on an existing technology “mega-ecosystem” to maximise skills and code reuse.
  • Eliminate unnecessary data “silos” to unlock new business opportunities by allowing real-world assets to move freely between all legitimate potential owners.
  • Embed legal entity-level identification into the programming model to enable legally enforceable and secure transactions.
  • Support inter-firm workflows for negotiating updates to the shared ledger to support real-world business scenarios.
  • Enable the inevitable move to the public cloud without requiring high-risk technology bets.

Market for Goods and Services Offered by Requesters

Requesters, if they choose, may offer goods and services in exchange for DTN. For example, if 100 DTN = $100 a requester may offer to purchase 75 DTN ($75) from a provider in exchange for a product that is normally sold for $100. This makes sense for the provider if they are in need of the product being offered because they’ll get it a discount. It also makes sense for the requester because they can guarantee that a portion of money spent on research is reinvested into the purchase of their product. While Datareum’s long-term vision includes a mechanism to enable these kinds of purchases directly within the platform, at first they will only allow the exchange of vouchers, with actual purchases being made off-platform.


For more information,visit the Website or read the Whitepaper.

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