DATUM: A SWOT ANALYSIS

YUDEE
YUDEE
Aug 31, 2018 · 4 min read

A data marketplace or data market is an online store where people can buy data. Data marketplaces typically offer various types of data for different markets and from different sources. Common types of data sold include business intelligence, advertising, demographics, personal information, and research and market data. Data types can be mixed and structured in a variety of ways. Data vendors may offer data in specific formats for individual clients.

The data marketplace has been monopolised by the cabals that deals with data transaction, these cabals have become the dictators of the market, to dictate the price and benefit of the data issued by the data creators via their platform. The cabals creates a company to bridge the gap between the clients and the customer, in the process of bridging the gap, they in turn seize the right of the client to distribute their data and earn form it. However there is now a solution to this long puzzling circumstance and this leads to the introduction of Datum Network

Datum network is a decentralized market place which allows anyone to store structured data securely in a decentralized manner on a smart contract blockchain in form of DAT smart token. The DAT smart token enables optional selling and buying of stored data while enforcing data usage rules as set by data owner.
In my first review I discussed on datum and gave a general overview on it. My second review discussed the milestones reached by datum team and a comprehensive review on the team. Today, I’ll be doing a SWOT analysis on DATUM.

For every platform, there is bound to be another competitive platform. Hence, there is need to point out the strength, weakness, opportunities and strength DATUM is bound to face. I’ll further highlight how these weaknesses have been turned into strength for this platform.

STRENGTH
The strength of Datum is that it solve problems that have constantly plagued conventional data users by using the following method

Data Storage: The conventional data is usually controlled by third parties which is why there is usually google ads and pop ups that shows your recent search. This is as a result of a centralised database where our data can be used or sold off without our knowledge. Datum works on a decentralized platform which is not controlled by any individual or third parties. With datum there is an high end security measure in place in that data are encrypted and can never be changed no matter how long it takes.
Performance: Since the inception of blockchain technology there has been a rising concern on the interoperability and scalability of all decentralised platform. One of the major strength of datum is its interoperability in that it takes a shorter period to perform a particular transaction (latency) and at a required number of times (throughput).

Transparency: Datum’s smart contract allows for transparency between users in that transactions can be easily monitored on the blockchain network. This strength supersedes all conventional centralised platform that can’t be monitored.

WEAKNESSES
Blockchain technology is yet to see a massive adoption. As of now, there seem to be a dwindling interest in Blockchain technology due to the volatility and insecurity issues that have plagued it. The rise of ETF and the indecision seem to have left people hanging in between and this has led to a decrease in investors in the blockchain sphere. However, with this flip side Datum has held its ground by providing security measures for all data users and as such they have made a salient ground in the sand of time.

OPPORTUNITIES
We have seen numerous projects that have been introduced into blockchain technology but very few have been able to make a salient ground and this may be due to a number of reasons. However, DATUM have been able to show the world the following opportunities it presents;

  1. Datum offer users the opportunity to earn while surfing the net. This is one opportunity that has truly not been harnessed in time past. For instance, most searches and data storage done online has given google, facebook and youtube a large percentage of net worth in recent times. Datum seeks to bring this profit back to its users by earning the datum token (DAT) or fiat while surfing the internet.
  2. Datum recently launched its test net which is currently running on the proof of authority and the mainnet is currently being developed. With this users can effortlessly run a storage node.

3. Datum is currently trading in over 10 exchanges with a good market cap (cmc). With this it can be seen that datum is not just any start up project but a long standing project with futuristic goals that are feasible.

THREAT

In the cryptospace there are several projects that have brought on board the decentralization and security of data. However, some are specified to a particular projects such as mediblock (deals with data based on medicals) while Datum works on all kinds of data.

CONCLUSION

From the SWOT analysis we can see that the strength and opportunities Datum presents quite outweighs the weaknesses and threat. This is indeed a safe haven for investors and users as this is one amongst many projects that have tenaciously followed through their roadmap and they have delivered on all front. A dedicated team and a project with a unique usecase is all we need for sustainability of a platform.

For more information on Datum project please visit

Official website: https://datum.org

Whitepaper: https://datum.org/assets/Datum-WhitePaper.pdf

Telegram: https://t.me/datumnetwork

Facebook: https://www.facebook.com/datumnetwork

Authors Bounty0x username: yudee

YUDEE

YUDEE

WRITER AND CRYPTO INFLUENCER

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