Dataeum ICO Review
With over 4o days to go for their pre-ICO, the Dataeum ICO is another interesting upcoming ICO that has caught our attention. With major portals talking highly of Dataeum ICO here we are with our own Dataeum ICO review. As data science is becoming ever more important for business development and for solving other major problems, Dataeum aims at revolutionizing the processes involved in data generation. They also claim to be the first Blockchain based platform using crowdsourcing for Data generation. Eyeing at a huge Data market of over 3 trillion Dataeum is all set to penetrate the market making use of advanced blockchain technology. “Dataeum aims to disrupt the existing paradigm, by creating the first blockchain-based platform which uses crowdsourcing to enable the collection of 100% of all global physical data (such as stores, gas stations, traffic signs, etc) anywhere in the world, with 100% accuracy.” To facilitate this mechanism Dataeum uses a distributed workforce of collectors who are incentivized in XDT tokens to submit physical data.
Already Functional Mobile App
Dataeum’s mobile app is already up and running for past two years facilitating the collection of Data as they have collected all the data on Point of Interests in cities such as London, Paris, and Barcelona. The app has already been tested and has satisfactorily proven better results in data procurement. The edge that Dataeum has over other data collection processes is that by making use of Blockchain technology it sufficiently removes intermediaries and with the smart contracts the data they collect is transparent, verified and updated.
Using Crowdsourcing for Data generation
Dataeum relies on crowdsourcing for their data generation. This is similar to UBER or Google maps where the information shared by the users adds to the existing database. This model is more refined with Dataeum as they are making it all more transparent and decentralized with integrating blockchain and crowdsourcing. With Dataeum “Data collection is done through a mobile application used by a community of collectors who are rewarded for their actions. This reward is calculated according to a “collection value” (cv) price.”
AI and AR features for data and verification optimization
The Dataeum mobile app though initially designed for generation of the physical store or POI they will develop and expand their functionality to collect a wide range of physical data available in the real world. The app uses deep learning for data analysis and they also use some advanced AI and Image recognition technology. “Image recognition technology will facilitate data collection, and Artificial Intelligence will ease and optimize its verification.”
Further, the app also provides for latest AR features. The AR features (Augmented Reality) features will allow automatic, intuitive and instant recognition of any visually accessible data: stores or other POI, street signs, traffic lights, benches, street lamps, vending machines, metro stations, taxi stands, bus stops, etc.
Immense Growth Potential and Strong Use case
The entire data market is already huge and is constantly growing. Estimated at 3 trillion, the Big data market has immense opportunities in store for Dataeum, which is one of its kind Blockchain based data collecting technology. Moreover, the use cases of Dataeum’s technology is diverse and varied given the accuracy of data collected and ability to scale and collect a range of data using high-end technology like AI and AR.
Dataeum’s XDT Tokens: Functions and Use
Dataeum’s XDT tokens are developed on top of Etehreum’s Blockchain and it ERC20 protocol. Dataeum’s XDT tokens have a range of functions on the platforms and within the ecosystem. From rewarding collectors for their participation in data collection process to Data licensing and Acquisition of Data Ownership exploitation, the XDT tokens will enable interaction among a range of offered services including community member to member interaction and merchant interaction.
Dataeum TGE (Token Generation Event)
Dataeum TGE is an open to all event where participants can purchase the XDT tokens in exchange of Bitcoins or Ethereum as these two are the only accepted cryptocurrencies or they can purchase XDT tokens by contributing Fiat currency worth the value of XDTs purchased.
The Entire token generation event is to be executed in three stages including a private sale, pre-sale and Public sale. The total number of tokens to be generated is fixed at 1,0000,0000,000. Tokens to be issued is 500,000,000. The price of 12,000 XDT tokens is 1 ETH. The hard cap will be reached when 35 0000 Ethereum is collected.
The Dataeum ICO pre-sale to be launched from August 20th will be conducted in 5 different stages with maximum benefits to the early investors. The minimum contribution required to participate in Dataeum ICO pre-sale is 1ETH or 0.5 BTC or $500 USD.
The Public sale (TGE) is scheduled to take place from September 24 to October 21, 2018, and the minimum contribution required to participate in the Public sale is ETH= 0.2 or BTC= 0.01 or USD= 100.
50% of the total Tokens generated will be available for sale during TGE, 30 % of the tokens will go towards reserve and the remaining 20% will be redistributed among the different partners, team members, advisors, and bounty program. Also, the funds procured have detailed and well-defined uses mentioned in the whitepaper. 45% goes towards platform development which will be carried out in stages. 25% goes towards operational development and data collection financing, while a 20% and 10% each goes towards Marketing and communication and Opex and other expenses respectively.
The Dataeum Team
Dataeum Team if full of diverse talents and boasts of a very strong advisory. Charly Pham, Dataeum CEO and Co-founder, has served as partner and founder of several successful ventures, Charly created the first mobile application for physical data generation based on crowdsourcing. Billy Pham, COO, and co-founder is a technophile and crypto-enthusiast, with his degree from the University of Paris Dauphine (France) and UCLA (US). They have some trusted names in their advisory like Anders Larsson who has held various CTO roles and the role of Vice President for Ericsson in Southeast Asia & Oceania with billion dollar yearly sales responsibilities and Simon cocking who is a number one Advisor on IcoBench, and is listed in the top 10 most influential people in Fintech according to a Twitter ranking.
Advantages:
- Huge growth Potential is given the already huge and growing data market.
- Detailed road map and execution plan.
- Successful integration of blockchain with crowdsourcing mechanism of data procurement makes it innovative and provides an edge.
- Already successful app up and running.
- Integration of AI and AR technologies makes the Data customized and more accurate following the optimization of the verification process.
Concerns
- Stiff competition as more and more businesses are getting in inspired by the huge market and potential. Also, there are already big players operating in the industry.
- Getting participants for crowdsourcing in the ecosystem requires streamlined marketing and strong promotion.
Verdict
Dataeum is indeed an innovation for integrating Blockchain for crowdsourcing of Data. The advanced features enable them to provide customized and more accurate and usable data. The project has a potential of creating a space for themselves in the already huge and booming data market. With the App already tested and proven the prospects seem to be bright for Dataeum.
Next week: Dataeum ICO review (deep dive analysis)
Visit the official website of Dataeum here: https://www.dataeum.io/
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