Last week we already did a Dateum ICO Review and rating detailing the particulars of their upcoming ICO. Pioneering the data revolution by integrating blockchain technology with the already popular crowdsourcing mechanism Dataeum is coming up with a promising platform that offers enhanced accuracy and transparency in the processes involved in data collection. While we have already published an informative Dataeum ICO review, this is a deep dive analysis of the Datum Project where we walk you through their platform’s features, the current status of the project, the token and ICO details, team and explore how and why it could be benefitting the crypto community and investors. The analysis also includes the issues or concerns as what you must know before participating in the Dataeum ICO. What inspires us in the first place to present datum to our community is the fact that their app which can be understood as a prototype of the Datum platform has already been tested at proven locations for using crowdsourcing for data collection. This means that they already have a functioning innovative technology to build and develop their platform further.
Decoding Dataeum: How it aims to redefine the data collection processes?
Dataeum claims to be the first blockchain based platform that uses crowdsourcing for data collection. Also, they say that they put humans at the core of their data collection ecosystem. But, here it is important to understand what it means to integrate blockchain with crowdsourcing for data collection and how is it different or how it influences the collected data quality. While one thing that we all can say that using blockchain technology and developing a decentralized platform makes the process increasingly transparent it also makes it easier and rewarding for the participants. This means that when data is collected through Dataeum’s innovative approach it will be more accurate and unbiased without any undue influence that could compromise the quality of Data and in addition the participants will be able to earn rewards for their contribution. In short, this makes the Data more valuable to the users. Also, with crowdsourcing and blockchain, they can gather a range of different types of data which in turn enables the entire datum ecosystem to cater to a range of diverse business requirements solving a number of real life and practical issues they face every day.
Crowdsourcing makes Dataeum’s data collection process more reliable
Crowdsourcing for data collection has proven to be successful and a functional reality for a number of businesses and service providers including some big names like Google and Uber. Imagine google maps and navigation that relies primarily on crowdsourced data. With the help of a large user base, these companies have been able to develop their services with data that are shared by their existing users. The process is simple and cost-effective at the same time. Dataeum picks the crowdsourcing mechanism and integrates it with the blockchain technology on their platform and is all set to take the process of data collection to a whole new level.
Dataeum aims to lead the emerging and already massive market
Estimated to be approximately worth more than 3 trillion dollars, Data Market is huge and is continuously expanding. Moreover, research suggests that it will grow tenfold by the year 2025.
Also, the top companies with the highest market capitalization have their businesses relying on data and the some of the big names include, Google, Apple, Amazon and many more. Dataeum’s team is eyeing this huge market and by introducing blockchain technology into data sourcing they are all well groomed to make a dent in the industry.
One of the downsides of this immense and unprecedented growth in data market is that a lot of data is inaccurate and lacks quality which impacts the businesses as they incur losses for often having to rely on inadequate and inaccurate data. With Dataeum’s innovation, there could be a significant improvement in the quality of data.
How Dataeum works, integrating blockchain and crowdsourcing?
Dataeum’s ecosystem comprises of an innovative platform and relies on members or “human beings” for their data collection. They already have a functional mobile App and their innovation has been proven and tested and is operational. The data is collected 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. The data is collected and validated in a two-step process where a collector gives the first data input and the second one validates the data and in the process, they receive a quality score to maintain a high level of reliability. The distribution of the reward or the “collection value” is done by a 7:3 ratio where one who provides the first data input receives 70% of the CV while the rest 30% goes to the one who verifies the data provided.
Dataeum Uses advanced techniques for optimization of the data collection process
Keeping up with the pace of the fast developing data market Dataeum makes use of advanced AI and AR features that not only helps improve the quality of data but also allows them to optimize the data collection process. “Deep Learning is used to analyze the data and user behavior and will help improve the solution. Image recognition technology will facilitate data collection, and Artificial Intelligence will ease and optimize its verification.”
How can Dataeum be a game changer?
Dataeum has a very strong use case and it can literally help solve a number of business problems along with addressing some complex and practical daily life issues. For example, to help with development and up keeping of road infrastructure and to avoid accidents Dateum can be very helpful as “Any constructions, leaks, risks, can be updated by the community anywhere in the world. This will alert the community to potential dangers and facilitate rapid intervention by the appropriate authorities.” Also, it can help businesses with targeted advertising and help them with an enriched database.
“Through a decentralized marketplace and updated API, large database companies such as Acxiom, Factual, Localeze, can just plug in and get updated physical data for prospecting, listing, mailing, telemarketing, or statistics purpose.” Moreover, the seamless process of data collection with the help of blockchain is definitely going to set Dataeum apart from its near competitors who are largely dependant on traditional data collection methods.
The Dataeum team
Dataeum has a strong and experienced team dedicated to the project. Also, supporting the project are some responsible and established names. Dataeum CEO and Co-founder, Charly Pham, has served as partner and founder of several successful ventures, Charly created the first mobile application for physical data generation based on crowdsourcing. Co-founder, Billy Pham, 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.
Dataeum Token and ICO Details
Dataeum’s tokens are called XDT tokens and they have been developed on the advanced Ethereum ERC20 protocol. The XDT tokens have several uses on the Dataeum’s platform and the members will earn rewards in XDT for participating in the data collection process.
Dataeum’s token generation event (TGE) will take place in three stages. A total of 1,0000,0000,000 will be generated but only 50% of the total generated tokens will be made available for sale through the private sale, pre-sale and Public sale (3 stages of the ICO).
The price of 12,000 XDT tokens is 1 ETH. The hard cap will be reached when 35 0000 Ethereum is collected. While Bitcoins and Ether are two accepted cryptocurrencies for participating in Dataeum ICO, one can also participate by contributing fiat currency worth the token’s purchase value.
The minimum contribution required to participate in Dataeum ICO pre-sale is 1ETH or 0.5 BTC or $500 USD. 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. Here’s a detail of Dataeum funds distribution.
Why you should consider purchasing Dateum’s XDT Tokens
There are many factors that may influence your decisions including reliability, profitability, reviews and ratings and of course your independent research. With our reviews and analysis, we want to help you make an informed decision. So, for all seasoned and serial investors or enthusiasts here’s why you could consider purchasing Dataeum’s XDT tokens:
- Already proven technology and functional app — Dataeum’s app is already tested for the specific type of data collection at a range of locations across the globe. So, it is much more than an idea as they the ICO is about developing and enhancing the platform and not researching an idea.
- Immense potential and growth opportunity — No doubt the data market are booming but given the future estimates of the market, it is about to grow 10 fold in next 8–10 years. That’s correct! As Dataeum’s technology claims to procure high-quality data the prospects market wise seem to be very bright.
- Innovative in approach — While we don’t jump on to believe the “first of it’s kind” adjective doing a quick research does to some extent confirm that Dataeum’s app is actually unique for integrating blockchain technology and crowdsourcing mechanism for data collection. That gives an edge to Dataeum over its competitors.
- Making use of advanced technology — The project has been detailed and foresighted in their disposition as they are already enabling the use of advanced AR and AI technology that helps optimize the data collection process and significantly improves the data quality.
What you must know before investing in Dataeum’s XDT tokens
- Stiff Competition — As data market is not only huge but is also equally profitable there’s a good deal of competition. it would be interesting to see how Dataeum evolves itself to disrupt the current market practices and make a space for themselves.
- Getting more and more participants for data collection — The team has to have a very detailed planning to reach out to more and more members who would participate in the Dataeum’s data collection process. This requires a good deal of promotion and dedicated marketing.
Dataeum has its own benefit for the participants as the tokens find a variety of use on the platform. The already functional app collecting data for specific purposes adds to the confidence of investors. The white paper is detailed and explains the processes and makes realistic claims throughout. It identifies the problems and with a basic but innovative idea makes a case for a strong solution to existing problems in the data collection world. For a very short run the project may not necessarily be able to live up to the expectations but for a medium, to long-term investment Dataeum ICO can be considered. However, as they say, don’t put all your eggs in one basket!