Dubai based platform aims to help recover lost wealth due to IoT sensor data being locked and stored away in the data silos of organisations around the world. IoT is currently seeing increasing growth in sensor deployment through industries, research bodies and government, with billions being spent annually on the purchasing and maintaining of IoT sensors.
Untapped Potential
There is currently over 9 Billion IoT sensors deployed globally used to measure everything from the temperature, to traffic congestion, to the fullness of waste bins. The sensors themselves stem form a plethora of different industry applications, but all contributing to the approach towards a highly connected, “smart” Environment. The motivation behind sensor ownership is to invest into insightful forms of present and future application.
These extensive variation of applications represent a sizable business market for the companies, as well as a considerable potential profit for 3rd parties interested in purchasing data for additional purposes.
By using the Databroker DAO’s ERC20 token, DTX (DaTa eXchange), Databroker DAO’s users of all purposes can access a huge amount of IoT data. The platform enables sensor owners to conduct business with data purchasers, enabling them to monetize their data and recoup costs. Data purchasers will also have access to previously inaccessible data, some part of which is private in nature.
Sensor Data in the Consumer Market
Over 500 companies participate in the 150 billion USD/year data market, and as society shows increasing need for data-demanding “smart” consumer products, the data has a high likelihood to become a very valued and sought-after digital resource. This demand is enhanced even further by the trend of rapid advancements in Artificial Intelligence (AI).
Databroker DAO, according to the project’s , is a consumer marketplace that can safely store sensor data. Owners can sell their data on the platform, in exchange for its native DTX tokens, while also guaranteeing the validity of the token by leveraging the data itself. In addition, platform users can buy data directly with DTX. This type of IoT marketplace, used for advertising sensory data, may become a promising solution for public transport, environmental agencies, academia, smart city initiatives and various other sectors.
The Token Sale
Starting from March 19th, 2018, the Databroker DAO token DTX will be available at a base rate of 1 ETH (Ethereum) = 4000 DTX. Pre-Sale participants receive a 50% bonus; the minimum purchase during this period is 10 ETH. The Main Token Sale will begin on March 26th, 2018 and run for four weeks with a first-day bonus of 10%.
The DTX Token
DTX (Data eXchange) is an ERC20 utility token to be used within the Databroker DAO platform and serve as the credits to buy and sell data. The target is to posses 1 DTX token to cover the average value of the data from a sensor for one week.
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March 15, 2018 — Seattle, Washington — SHOP, the retail platform designed with cutting-edge blockchain technology, announced the acquisition—with their own SHOP Tokens—of retail app Kanga, e-commerce platform FoxCommerce, and omnicommerce platform Comrse at the premiere tech-centered conference, SXSW. Kanga and FoxCommerce will be the first apps to run on SHOP’s Blockchain protocol, giving shoppers across each platform access to the SHOP Token. SHOP is spearheaded by former Target retail innovation lead John Wantz and former Nike, Disney and Radio Shack marketing consultant and co-founder of art publication, Juxtapoz, Jamie OShea.
John Wantz is a serial entrepreneur that recently served in a leadership position within the innovation group at Target. Wantz believes that the future of consumer commerce will be won by protecting the direct relationships of Brands & Shoppers within a decentralized retail structure.
SHOP is the second startup founded & led by Wantz. His previous venture, Comr.se (now part of SHOP) was a pioneer in Social Commerce, powering patented transactable commerce experiences on Facebook, Twitter, and Pinterest, enabling brands to connect directly with shoppers across the discovery funnel.
Jamie OShea began his professional life as a co-founder of influential countercultural art publication Juxtapoz before moving into the world of marketing to help brands better connect with youth culture, including Nike, Lance Armstrong’s Livestrong foundation, Coca-Cola, Levi’s, Radio Shack, and Johnson & Johnson. In 2010, OShea teamed up with Wantz to launch a digital agency that developed technology platforms and marketing initiatives for clients like Experian and Disney before the pair set aside the agency world to better serve brands through the development of new retail-centric tech platforms Comrse & SHOP.
SHOP CEO John Wantz says, “We’re laser-focused on shopping and powering experiences that enhance the direct relationships between brands and shoppers. SHOP is establishing a decentralized retail ecosystem where brands and shoppers have the power to dictate how value will be exchanged amongst themselves based on shopper-controlled access to their own personal data and appropriate rewards given by brands in return.”
Shoppers receive SHOP tokens from brands in exchange for sharing information such as consumer preferences, style profile, and purchase history. Tokens can then be used in return for discounts or other incentives. This allows shoppers to control their data and be directly rewarded for brokering it to brands during transactions. SHOP has scheduled a public sale of 100 million SHOP Tokens between May 14, 2018 – June 13, 2018.
SHOP CMO, Jamie OShea explains, “The SHOP token has been designed to support an ‘information marketplace’ that continually increases the amount of personal consumer data being shared between shoppers and brands. This equitable exchange helps brands deliver more meaningful retail experiences to shoppers while returning greater savings to them in the process. For shoppers, this is the first tool that empowers them to own and monetize their personal data, shifting that control out of the hands of third-party retailers like Amazon.”
The SHOP Wallet, which will be used to store/spend tokens and control brand access to shoppers’ personal data on various platforms across the SHOP landscape, is now live and available for use in conjunction with the Kanga platform. Kanga is a millennial-targeted online retail apparel startup, whose focus is on omnichannel and social integrations. FoxCommerce is an API-first retail platform providing scalable, flexible customization tools to market products. FoxCommerce was funded by notable VCs such as RoundCapital and SUSA. Comrse is an omnichannel retail platform that enables brands to move their eCommerce store into external environments like social posts. As part of their service neither Kanga or FoxCommerce accept merchant fees.
“Blockchain technology has the power to greatly improve many industries, and retail is chief among them,” explains FoxCommerce and Modcloth founder Adil Wali. “SHOP is well positioned to be a large part of the meteoric rise of decentralized technology. I’m very excited to work with the talented SHOP team to make retail more frictionless for shoppers and retailers alike.”
ABOUT SHOP
SHOP is a decentralized blockchain-enabled retail data marketplace that establishes a tokenized free market commerce landscape. SHOP lessens the grasp of third-party marketplaces by returning control of personal data to shoppers, reconnecting brands with their customers, and encouraging innovation.
