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Wednesday, 27 June 2018

Knowing More about Your Destination Using Dataeum

Living in the modern era makes it unavoidable for us to search for various data using applications over the internet. However, many of the data provided online are still inaccurate or incomplete to this day. These data include points of interest such as public places and frequently visited places.

Although many of the data provided online are not satisfying enough, a very small fraction of it – about eight percent – is both correct and complete. But the parties, or people who provide these data for others to use never get any rewards for doing so. Although it might seem insignificant, more data will be collected if people are offered incentives. That is the reason why Dataeum is created.

A Solution Provided by Dataeum

In order to overcome this problem, Dataeum creates a solution that brings benefit to both the data collectors and users. All the data collected will be available within a decentralized marketplace, and all these data can be used by those who need it the most. These data’s transparency is also guaranteed and can be utilized safely and securely.

The data collectors will receive XDT, or Dataeum Token in exchange for their effort. This way, data collectors will have something to work for – that makes them more incentivized to collect data, thus the data provided will be more complete, satisfying, and accurate.

When data about a particular place is submitted by a data collector, it will be validated first before the data is shared among different users. If the data collected by two different users match, the data is confirmed. The first data collector who started the data collection will receive seventy percent of the total incentive and the second contributor will receive the remaining thirty percent.

Dataeum Token Sale

The total amount of tokens that will be issued by Dataeum is one million tokens. The exchange rate for these tokens is 12.000 tokens (XDT) for each Ether exchanged. Dataeum developers are targeting to obtain 35.000 ETH during the token sales. Not all of the tokens produced will be distributed – 30 percent will be put in reserve and 20% is allocated for developers and team members.

To reach that amount, there will be three phases of token sales. The first one is private sale; the time period is unknown because it is only accessible to several parties. The next one is the Presale that began on July 2, 2018 and will end on August 5. This presale event is divided into five weeks. The earlier someone buys tokens, the more bonus they will get.

After the presale ends, a public sale will be conducted on August 20, 2018 to September 30. There will not be any bonus for those who buy tokens during this period. However, if the hard cap is reached before September 30, it will immediately be ended.

A little less than half of the funds collected, which is 45 percent, will be used for the further development of this platform. Some advanced features such as Artificial Intelligence, blockchain implementation, and Augmented Reality will be added to this platform with those funds.

Twenty five percent of the funds will be used for operational development, which also includes legal compliance. The next 20 percent is allocated for marketing, communication, and advertising in order to raise public interest in this platform. The last ten percent of the funds will be used for administration, taking care of legal matters, and establishing subsidiary companies.

Development of Dataeum

The development of Dataeum is planned to run from the fourth quarter of 2018 to the third quarter of 2021. If everything goes well, one of the most interesting feature of this platform, which is Artificial Intelligence integration will occur in the first quarter of 2021. 

The developers of Dataeum also targets the data collection in their platform. A total of fifteen million data is targeted to be collected in 2019. This number will increase to 100 million in 2020, 500 million in 2021, and 1 billion in 2022. This seems like a very large number, but with the interesting features this platform offers, this target is not impossible at all.

Dataeum will help all business owners and citizens alike to find what they need in the maps with adequate data. This will support the mobility of people, and it will also help small to medium businesses grow because they can be discovered by more people.

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BOUNTYHIVE USERNAME : JahriMeayer


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