IOVO, the Largest Database Network to Power Individuals and Analysts

6 min readNov 15, 2018

In this article I will present information regarding IOVO. The information provided will include; the problems which IOVO intends to solve, the solutions provided by IOVO, parties who would benefit from the IOVO, and my overall comments on the information provided.

Introduction

IOVO is a DAG (direct acyclic graph) which is originally designed as a platform to serve as a powerful global database. IOVO will provide users to own and manage the data generated by themselves. IOVO will collect, store, and secure the user data. Nobody or entity will be able to access to another one’s data without the owner’s approval. Users will be able to monetize their data stored. They will be able to control the amount of data they want to be shared having complete control on their data. It would act like a data wallet for individuals and a valuable database market for individuals or entities who look for big data for commercial or social needs.

What problems does IOVO solve?

· Individuals do not own their data: Although there is an enormous amount of data generated by each individual, current data flow structure does not allow individuals to own the data generated by themselves.

· Central organizations make money on user’s data: Data generate by individuals is collected, categorized and monetized without consent of the users who own those data. Users do not get a share of this monetization process.

· Current data search is inefficient: Current structure of data storage is composed of distinct storages for each different category. This necessitates consulting to different databases for comparative analyses, which in turn results in high time and resource requirements.

Solutions and Value Propositions

· Users will gain control of their data: By providing a unique tool to individuals to own and manage their data, users will be able to choose whether or not they want to share their data with individuals or entities for various reasons. They will also have the ability to control the amount of data to be shared. They will even have the option not to share any of their data at extreme cases.

· Users will be able to monetize their data: IOVO will enable users to decide what to do with their data for the first time in history. They will be able to monetize their data by sharing them with the individuals or entities who demand their data.

· Single place for data analysis: IOVO will provide researchers and analysts the largest data base exist which will eliminate consulting or using different data bases for their needs. This will be efficient for those who look for data in terms of resources and time.

Who will Benefit from IOVO

There will be three main group of users or entities who will benefit from IOVO, namely users, dApp and application operators, and companies and analysts. Besides these, IOVO also provides solutions to the current generation of blockchain and DAG applications such as scalability, stability, and security. Other technical benefits of IOVO include, decentralization of data, secure encryption, transaction speed, Ethereum-like smart contracts and a powerful database network equipped with internal big data analytical tools.

Users

IOVO will give users ownership and full control over the data generated by themselves along with security. Some of the benefits IOVO will provide users are:

· Data wallet access to IOVO network

· Data ownership

· Data security and transparency

· Data monetization

· Anonymity

dApp and Application Owners

IOVO offers full guarantee of data security to operators of centralized and decentralized applications. By providing monetization opportunity of user data only with user approval with top notch data security and privacy measures, user growth will be supported. Benefits offered by IOVO to centralized and decentralized application operators are as follows:

· Access to a comprehensive global database via data wallet.

· Monetization of owned data.

· Data security.

· Acquisition of more users.

· Unmodifiable history

Companies and Data Analysts

Those who need data for their tasks would browse, analysis and inference IOVO which is powerful network database. The infrastructure established in a way to be comprehensively analysis-friendly so that it enables easy access of external analysis tools. There will be a set of tools provided by IOVO also for researchers and analysts. Benefits offered by IOVO to companies and analysts are as follows:

· Big data access to complete network.

· Data research and analysis.

· Full anonymity.

· Direct contact with surveyed users.

· Secure data storage and unmodifiable history

Largest Network of Data

IOVO is not only provides data ownership and management abilities but with all the stored data inside, it functions as a database. As it will collect data from various fields, IOVO network would become the world’s largest database. Large variety of data contained within the system would make public and commercial research possible on a large scale. Currently data is being stored in separate databases each representing a different discipline. Such a structure results in higher costs in terms of time and resources when comparison studies need to be performed.

IOVO network will enable researchers to conduct their database search and analyses within the same large data network. Such capability will significantly increase the analytical capabilities and the quality of conclusions drawn from the comparison studies. IOVO network will also provide opportunities to improve the approach to data analysis methods which would not be possible or very difficult with traditional data analysis structures.

Conclusion

Data ownership capability to be provided will be first to the ordinary data generators which are users. IOVO in this sense generates a unique opportunity to individuals to own, store, and manage them. This is a revolutionary opportunity for individuals and a great decentralization implementation. There is no doubt every individual would like to take control of their data.

IOVO will also provide individuals the freedom to choose whether or not to share their data. Users will have the power to monetize their data if they agree to share them. This doesn’t mean that each and every user is going to monetize the data generated by themselves but, the important point her is that IOVO gives individuals power to own and control the data generated. They would be able to decide the kind of data and amount of it if to monetize in case they choose to do so.

In time IOVO will become the largest database existed ever, providing opportunity for distinct analyses. Providing such a large database network will make the data analysis and comparison tasks more efficient than the traditional data analysis methods offer in terms of time and resource wise. This will eventually make IOVO the number one database choice for researchers and companies which creates a perfect business potential.

The only disadvantage it would bring to the analysts and companies is that not all the users would be willing to share their data although they are going to be paid. This would make the conclusions drawn from these data to be less accurate and efficient than it was used to do the traditional and centralized ways where all the data generated included.