Making Cities Smarter: Databroker DAO – Part 2: Problems and the Solutions Provided By DataBroker DAO

In the project introduction I gave insights on what this project is about in simple terms. In this part of the series I will be diving into the real life problems Databroker DAO is created to solve and how the platform will go about solving them.

The Problems:

The sensor data market faces billion dollars’ worth of challenges.
The importance of IoT sensors and data collection to companies, researchers, government bodies and individuals is so huge that hundreds of billions in dollars are spent yearly on purchasing, installing and maintaining of IoT sensors.
Data collection applies to our everyday life even in ways we may not know or deem insignificant. 
According to the project whitepaper: after taking data it is discovered that by 2016, the global market for IoT sensors surpassed 600 billion USD per year, which is expected to grow to 1.2 trillion USD per year by 2019. This includes the purchase, installation and maintenance of sensors and the software packages to interpret and enrich the data. By 2016, there were no fewer than 9 billion sensors deployed globally, which are expected to grow to 33 billion by 2019.
I believe however that this problem is more of an infrastructural one which then reflects on the financial side of business and there is a need for a platform in which data from different IoT sensors can be accessible by other devices thus eliminating or reducing the need for installation of more IoT sensors or devices.

The Solution: The Innovative DataBroker DAO Solution

As I stated above about the nature of the problem, solving the infrastructural obstacles will however result obvious effects on the financial side. 
For a problem of this nature, there is a need for a decentralized ledger governed by a smart contract that can perform the operations of a broker or intermediary in the exchange of sensor data and monetary value between the sensor owners and the data consumers in a completely transparent and foolproof manner.
DataBroker DAO is a Blockchain based platform that utilizes the existing infrastructure from telecommunication providers to provide a worldwide marketplace where sensor data purchasers can connect directly with sensor owners in an exchange of data for monetary value.
DataBroker DAO is a first of its kind and provides an innovative way of solving the financial problem plaguing the sensor data industry. 
DataBroker DAO is creating a new market where none existed before meaning creating opportunities for millions of people around the world. 
There was a time when the exchange of goods and services online by people from different geographical locations was only an idea, but now it’s a norm with market giants like ebay, Amazon, AliExpress connecting buyers and sellers around the world daily whom exchange services worth hundreds of billions in dollars yearly. In a way DataBroker DAO is creating a whole new market for exchange of digital properties like data and the platform being decentralized and governed by a smart contract means it removes the possibility for greed or malpractice as is with the case of some centralized companies.
Join in the conversation on the telegram community https://t.me/databrokerdao  and official announcement thread https://bitcointalk.org/index.php?topic=2113309.0 then visit the DataBroker DAO official website https://databrokerdao.com for more information

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