Thriving ecosystems are dependent upon the interactions of multiple entities. Our data ecosystem is no different. Our system intends to host and enable millions of interactions including collection, distribution, transaction, and analysis; such activity is dependent on two key drivers, data, and stakeholders.
Data
Our entire ecosystem was developed on the importance of data. Data is the fueling force of our entire economy, and advancements within the data field have positioned data as the primary driver of business insights. More specifically, data is driving marketing, analytics, the machine economy, and the greater connected world. Data isn’t monolithic, in fact; much of its value comes from its dynamic nature. Our team believes that there are significant network effects that can be realized through advanced data collection. By having access to multiple data sources in such close proximity, data can be quickly analyzed, combined and structured, and made actionable. The more data we have circulating through our ecosystem, the more valuable it becomes.
That’s why one of the greatest challenges in creating a successful ecosystem is attracting a wide range of data sources. Sources which are diverse, sustainable, and reliable. The DACONOMY ecosystem caters to a wide range of data types, however; the three main categories are unstructured, semistructured, and structured data. The structure usually dictates how the data has been managed and how actionable it is given its current form. Examples of unstructured data include text and multimedia content such as emails, audio files, videos, log files, web pages, etc. Semistructured data is data that doesn’t reside in a relational database but does have some organizational properties that make it easier to analyze. Finally, structured data refers to all the data which can be stored in a database organized in tables with rows and columns.
Structured data represents around 5–10% of all generated data, while unstructured data represents about 90%. While the ecosystem supports all type of data, we are expecting a major influx of unstructured data. Examples of data being supported by DACONOMY’s ecosystem include company data, consumer data, geographic data, public data, text data, and internet/web data.
Stakeholders
Stakeholders are the second part of the equation. The goal of our ecosystem is to bring together stakeholders from different areas and sectors of the data economy. Stakeholders are critical because they will lead the proliferation and transaction of data in our ecosystem. Contrary to traditional data platforms, DACONOMY offers a decentralized, multi-stakeholder approach. Sellers maintain ownership over their data when offering it on the marketplace, buyers have access to an extensive range of data sets, enabling them to select the most suitable one for their needs and budget.
If the data is the fuel of our ecosystem, stakeholders are the vehicles. By selling and buying data, stakeholders create activity. Growing the ecosystem by participating in activities that are mutually beneficial for all parties that are involved. We’ve mapped out the five main stakeholders that are expected to drive growth and participation within our ecosystem. The first is data sellers; this includes a combination of companies, data brokers, and private data sellers. Data buyers are another group; this includes data buying companies and marketing agencies. IT & Software operators include DApps, storage, and housing. Authorities include various government entities. And finally, data service operators include analytical services, data management services, and data consultants.
DACONOMY is a multi-sided platform. We grow with our users on all ends of the data monetization spectrum, offering the best solutions possible for data monetization and utilization related tasks. The bigger the user group is, the more beneficial the ecosystem will become for all participants.
Our data ecosystem has tremendous potential, but it can’t operate in a silo. Our team is depending heavily upon our two key drivers, data, and stakeholders. As both of these areas, as well as our infrastructure, grows, we will have the ability to bring data-driven value to companies all over the world.
