Decentralized data marketplace, Datum Network has earned its first celebrity endorsement from Canadian actor William Shatner. The endorsement follows after the group’s recently launch of its token sale, which has already raised millions.
Datum Network is a decentralized, NOSQL database cluster with Blockchain characteristics. The network reflects a globally scalable data storage infrastructure that is secure by its design. The group managed to raise over $1.5 million in its DAT token pre-sale, with its Initial Coin Offering (ICO) ) launching back on October 29, 2017.
The network explained
The Datum network allows anyone to store structured data securely in a decentralized way on a smart contract blockchain. In particular, the Datum or DAT smart token helps also enable optional selling and buying of stored data while enforcing data usage rules as set by the data owner.
The group’s cohesive network encompasses a wide range of key elements, including a fast-decentralized data store allowing users to store structured data securely running on a smart contract blockchain. Datum also leverages big chain DB and IPFS to provide an infinitely scalable, decentralized data storage backend.
What can you do with data?
Individual users, including private or corporate entities own the keys to their data in order to control secure storage or distributing and selling their data in real time. There are no backdoor structures possible with the protocol, enabling unprecedented level of data protection for all members of Datum’s network.
I’m a celebrity so I got paid cash to tweet this out. Now you can #GetPaidForYourData too. #TakeBackYourData @datumnetwork #promoted pic.twitter.com/tQ8Xrhafm6
— William Shatner (@WilliamShatner) October 26, 2017
DATs represent the base valuation for data, based on three central rules: exchange of value, rule of law, and means of measurement. To help assist users, the group’s Data Calculator is now live, which effectively calculates the value of purchased data from individual users.
The Datum network is quickly making inroads across the industry by supporting multiple initiatives that collectively aim to increase control of data by their sources. For its part, the group is aiming to work towards a future where data is first and foremost owned by their creator and where the creator can choose to share, monetize or destroy this data based on their own preference.
This process in a strong contrast with current data silos, which essentially mine vast swaths of humanities data under restrictive licensing terms, e.g. an individual giving up most rights to their image when posting it on Instagram.
Datum Network feels that legislation in many regions is being worked on towards giving back more control of user data to the users themselves and feel the Datum network is an important facilitator and technical solution for such a future. Prospective investors are invited to explore the group’s whitepaper, which explains the ICO in broader detail.
