DataBlockChain.io: Utilizing Technology The Right Way
At DataBlockChain.io, we understand the utilities and strong suits of the Blockchain and other technologies. Today, we would like to share with you how those technologies are being utilized with our project.
First, let’s discuss the Blockchain and how DataBlockChain is utilizing it.
DataBlockChain.io will be using the Blockchain for transaction finality, traceability, auditability and transparency. Storing the data that our platform uses on the Blockchain would not be the proper usage of the Blockchain and thus is not used for this purpose. Rather, the Blockchain provides an excellent medium for these aforementioned features for transactional purposes and will provide a new layer of trust amongst data vendors and purchasers that has been previously lacking in the industry.
Next, let’s go over the Smart Indexing Engine that DataBlockChain.io will be using.
Smart Indexing Engine (SIE)
DataBlockChain.io utilizes an open source Smart Indexing Engine to index all the various data sources and subsequently assign a confidence score on the data sources. The SIE is constantly checking and reevaluating the sources available and updating the scores. The data sources with higher scores receive preferential treatment by the system as long as the query parameters are observed. The Smart Indexing Engine is a perfect utility for DataBlockChain.io and serves the purpose of indexing and assigning quality confidence scores to boost the system’s overall ability to correctly grade data for a purchaser in a way that is unlike what is currently on the market.
Now, let’s discuss the DBC Wallet.
Often times, the need for a platform to have its own wallet is not necessary for many varying reasons. With DataBlockChain.io, having its own browser extension wallet allows for users to store DBCCoins and use them to purchase services on DataBlockChain.io in an easy and intuitive manner. Ethereum can be purchased and exchanged for DBCCoin’s with one click using the wallet. This greatly reduces the barrier for entry for many of the companies and data vendors looking to purchase and sell data in a way that is both trustworthy and efficient via the Blockchain.
Lastly, let’s go over the DBCCoin and why its utility makes sense.
The DBCCoin is an ERC-20 Token that is implemented on the Ethereum Blockchain. DataBlockChain.io utilizes Smart Contracts written in Solidity for transactions, auditing and payments. By using the token for transactions, DataBlockChain.io is greatly increasingly the level of transparency and trust with data transactions on the platform. The DBCCoin token will also function as an essential marketing tool for DataBlockChain.io as it will serve as the basis for the Rewards Program as well as incentivizing customers and data vendors through a Promotion Program. Overall, the DBCCoin is a great technological utility for DataBlockChain.io because of the trustworthy token ecosystem it creates and because it serves a real purpose within in the platform.
In all, DataBlockChain.io utilizes various technologies in the right manner to help democratize data in a way that is not currently available to the market. It will help bring a new level of transparency and trust to the data marketplace that is currently in major need of these elements.
Our MVP is live! You can learn everything about it and how to use it here
Be sure to join our Whitelist for our Pre-Sale starting on May 27th, 2018 on our website.
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