Road to Empowerment, Part 1: the Ecosystem
One of the key aspects of HARA is that it is designed in a way that empowers all those that take part in it. By creating a virtuous cycle, the benefits of the HARA Ecosystem ensure that it is sustainable. In the Road to Empowerment series, we will examine how this ecosystem works. To kick things off, this article will give a quick overview of all stakeholders that participate on HARA’s data exchange.
HARA’s Stakeholders
The HARA Ecosystem is designed around four types of stakeholders. These stakeholders are data providers, data buyers, data qualifiers, and value added services.
The role of the data providers is to continuously and frequently share their data to the exchange. In return, they will receive tokens or loyalty points. Examples of data providers can be smallholder farmers and field agents, but also big data companies or satellites.
Data buyers are parties that have an interest or need in data, and buy the available data from the data exchange. These data buyers will drive most of the demand. Examples of data buyers are banks and insurance companies, but also government institutions and private enterprises. By participating in the HARA Ecosystem, these parties gain access to valuable, near-time data that they would otherwise not be able to get.
The raw data that is uploaded to the data exchange ecosystem will be enriched by value added services. For example, these services will buy raw data which they then organize into reports which in turn can be capitalized on the exchange. Players in this category could be academic institutions or data analytics companies.
Finally, all HARA Token holders can participate on the exchange as a data qualifier. Data qualifiers get tokens for doing simple tasks like verifying the quality of data. In this role, players can help contribute to keep the ecosystem healthy, while getting rewarded for it.
Virtuous Cycle
Furthermore, to ensure the health of the ecosystem, HARA makes use of a staking mechanism that helps differentiate between active and dormant accounts. Stakeholders need to have a minimum staked balance in order to maintain access to the platform. Once the staking balance dips below the minimum level, the account goes dormant.
The interplay between all the different stakeholders thus creates a virtuous cycle. Data providers input their data, and get rewarded for it. Data buyers provide the incentives by buying the data. Value-added services are incentivized to enrich the data, and data qualifiers are incentivized to improve the quality of the data.
In the following articles in the Road to Empowerment series, we will take a closer look at each of these stakeholders.
First up are the data providers.
Join our community on Telegram!
Learn more about HARA
- Visit the HARA website
- Read our White Paper
- Join our Telegram Community
- Follow our Social Media
Facebook, Twitter, Instagram, Medium & LinkedIn
