Making Cities Smarter: DataBroker DAO – Part 3: How Databroker DAO Works and its Use Cases

In the previous part of this series I explained the problems the DataBroker DAO is going to solve and the solution, now I will be shedding more light into how the system works and the use cases with a practical example.

How DataBroker DAO Works

When considering the several use cases of data broker, it’s always important to first know how it works, then outline the target market or actors in the ecosystem I.e. the people that are going to adopt this technology from the sensor owners where it is generated, to the data users and everyone in between.
The actors in the DataBroker DAO ecosystem can be classified into four groups namely;
  • Sensor Owners
  • Data Buyers
  • Data Processors
  • Gateway operators 
Sensor Owners: This group belongs to anyone who has purchased and/or owns an IoT sensor and. Is prepared to monetize on the Databroker platform the data generated by their sensors.
Data Buyers: This is a group that consists of every entity looking to purchase the data generated for their own use. In this group could be an individual, a business, a technological firm, a researcher etc. because the applications of data are virtually endless. The data may be used directly in its raw form or may be refined and be used as a variable in a much larger system.
Data Processors: The data processors are also a group of data buyers but unlike the traditional buyers whom buy data for the purpose of direct use, these buyers purchase data with the aim of enriching it. Raw data may often be obsolete and incomplete; data processors refine and transform these raw data into a more sophisticated and readily applicable form. 
In a sense, databroker dao can be likened to a “secondary market” for iot sensor data and has been referred to as an “ebay” or “amazon” for iot sensor data – Extract from Whitepaper
Gateway Operators: Gateway operators are basically telecommunication companies which serve as the channel that takes the sensors owners and their generated data mainstream providing a gateway which allows them sell their data on the Databroker DAO platform. The wide reach of these gateway operators is vital as they stream sensor data to the Databroker DAO API gateway.
This is an ecosystem of interconnected actors which ensures the data consumers get the data needed in its required form and the sensor owners, data processors and gateway providers are fairly compensated using a smart contract, for the value provided.

Example Use Case

A metrologist is researching the effects of rainfall, thunder and lightning on the rate of flights dispatched from an airport in Lagos, Nigeria. He purchases and installs IoT sensors to record his data. The IoT sensors then records a wide range of weather related data.
This researcher then makes this data available for purchase on the Databroker DAO platform.
A local farmer whom wants to expand his output by utilizing weather related data but doesn't have the capital to purchase an IoT sensor can access this data on the DataBroker DAO platform, either in its raw form or in a refined/processed form.

The result of this:

  • The researcher monetizes data which would have just been locked up in silos without any use.
  • The farmer can utilize previously inaccessible data for his business in an affordable and economical way.
  • Data processors generate revenue providing a service that has endless applications.
This is just one of the endless use cases of Databroker DAO. This platform will impact positively millions of people all over the world.
As explained in the previous article that; there was a time when the exchange of goods and services online was nothing but an idea, an idea which has grown into billion dollar companies. In that same mood there is every reason to be bullish about the DataBroker DAO decentralized platform this platform has enormous potentials both for the users and also the investors.
Now the most important part for an investor is The token sale and ICO phase which I will be reviewing in the next and final part of this series. Stay tuned.
Make yourself familiar with the DataBroker DAO official website https://databrokerdao.com and continue the conversation on the telegram community https://t.me/databrokerdao and official announcement thread https://bitcointalk.org/index.php?topic=2113309.0

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