DDAM — Advantages of Digital Data Assets & Technology
Data is the driving force of the digital and asset industry. Business decisions are constructed and commercial agreements are secured based on the illumination of arithmetic or ciphering results data provides. Data is an enabler for smarter or factual based decisions but it can also be an anchor. Business today are struggling to cope with volume while ensuring quality, implementing sound governance and extracting value in the sea of constantly changing information.
These world evolving issues represent the “data management revolution” and they impact the entire digital data asset management sector, including hedge funds, private equity firms, fund administrators and family offices.
Submerged in data
The days of relying on pricing merchants, annual reports and other traditional sources of information to inform investment decisions are long gone. A new data paradigm has become prominent.
Asset managers are increasingly incorporating financial and non-financial data flows from the internet, social media and a multitude of other sources into position making. With information feeding these sources growing exponentially, it’s no surprise that firms are drowning in data.
Between new asset classes and the globalization of investments, managers must pull in more information, in more languages from more international and domestic sources than ever before. The proliferation of data can also be seen in the public sphere where disclosure and reporting requirements are driving regulated companies to provide additional information for greater transparency.
Digital Data Quality
Standardizing data sources would help to eliminate the manual manipulation needed to reformat or normalize the data for integration with other systems. And it would improve data quality — as nothing compromises quality more than manual processes.
Unfortunately, efforts to establish standards based on government or industry requirements have fallen short because the standards must cover too many jurisdictions, each with its own individual issues and constantly changing rules. Without a definitive standardized model, firms continue to rely on manual input and spreadsheets, which increase the chance of error and put the firm at risk of making decisions based on inaccurate or incomplete information.
These solutions automatically collect and aggregate information, thereby eliminating the resultant errors from handling data. Once in the system, more advanced technology and reporting can complement other solutions to extract value.
The Ethics Of Data Governance
Data rapidly launched itself as the world’s next powerful resource, but the realization of how valuable it can be has been overlooked. Indeed, the less someone understands this power, the more damage it can do if not treated properly. New regulations around the world are helping ‘data citizens’ understand the change that is afoot, and making sure that proper data governance works in everyone’s favor.
As we embrace the power of data, we unlock a world of efficient organizations, better customer relationships and a more ethical way of doing business. Once this structure is in place companies can reap the much-cited rewards of AI, but the benefits and dangers of data always apply — if your data governance is not above-board, the consequences could pollute every aspect of your business. And the opposite is, of course, true — the more you take care of your data, the quicker and better your decisions will be.
Realization of Digital Data Assets
Digital data asset management enterprises that use data from online news sites, social media and the internet to supplement traditional sources can gain additional details regarding the strategies and long-term potential of companies. Mining this information helps to better predict outcomes, inform decisions and mitigate risk. However, much of the data from non-traditional sources is unstructured, making it hard to integrate into an objective decision process and hard to use without the right tools.
True data success is not just the ability to manage large augmentation of information, but to derive business intelligence from the information collected. If leveraged properly, data can be transformational.
Technology advancements such as DDAM is equipped to unlock the value of data, it enables literally anyone to better understand and use information for competitive advantage while helping to mitigate risk. As such, adopting technology is a wise long term move. In addition to improving decision making, technology enables cost conscious businesses and individuals to integrate with rest of world more efficiently. Businesses that are slower to adopt technology will have a harder time embracing the operational paradigm that’s needed to grow investments or safeguard wealth for future generations.
Digital Data Globalization of DDAM
In the era of data sovereignty, DDAM aims to provide data producers and managers to realize the full value of their own data and let data be used by the people ensuring a robust ecosystem to a secure, scalable and stable architecture.
Recognized Solution of DDAM
Data leakage, data management confusion, data flow difficulties.
DDAM Technology Core
Distributed data layer, application layer, sPOC consensus model
DDAM Token distribution and mining rewards
The total amount is 8 billion pieces, 10% of the early support community, 2% of the foundation, and 88% of miners’ mining rewards. The average mining time of the mining is 5–6 minutes, and the initial rewards 4,400 DDAM per block. Each of the 800,000 blocks is excavated, and is halved. At this stage, about 1.27 million DDAM’s are produced every day, which is expected to be mined up to 2069.
DDAM Technology route
October 2019: Create consensus (main online line, stable use of sPOC consensus mechanism).
October 2020: Building a platform (adding a smart contract module to build decentralized data asset management architecture).
October 2021: Enriching ecology (enriching application layer ecological construction, helping data create value).
We live in a society exquisitely dependent on science and technology. Science and technology revolutionize our lives, but memory, tradition and myth frame our response. In the wake of digitalization mega trends such as mobile Internet, the Internet of things, and big data, digital innovations are creating development opportunities faster than ever. It is very important, to have a robust digital economy, that the citizens regain the trust in how their data are being processed and who can access them. Digital companies such DDAM whom are leading the way can reach new customers immediately and at virtually zero marginal cost. They can compete in new sectors by collaborating with peers and competitors. They can massively improve quality and productivity by converging technologies and sources of data.
