Along with Artificial Intelligence, Robotics, Voice UI, one of the hottest fields of technology that is coming of age this century and which is set to play a major part in the way we do things is what is known as the Internet of Things. This simply put, is the sum total of all internet enabled sensors fixed in all devices ranging from the Smart Fridge in our home to pneumatic sensors in factors, to sensors that automate Smart Energy Grids.
By 2020 it is estimated that the number of IoT sensors spread around the world will outnumber the human population by a factor of 4 to 1. The sheer volume of data produced by these sensors represents a treasure trove that if properly tapped will usher in new generations of optimized technologies to face challenges down the road.
Sadly, the vast majority of Data produced by the billions of IoT devices remain untapped and wasted due to the lack of an effective ecosystem that will make the seamless transfer and monetization of this data possible.
The DataBroker Alternative
DataBroker is a blockchain based startup that seeks to revolutionize the IoT sector before the industry solidifies itself and offer it the tools to realize its full potentials.
DataBroker is platform with the vision of opening new revenue streams for companies all over the world as they monetize the treasure trove of data produced by their sensors, allowing them not only to gain monetarily by such transactions but aid in the creation of business solutions in their sector that would have otherwise been impossible to make happen.
A Smart Contract Automated Platform
The key tool which the DataBroker platform deploys in order to provide industries with an all-convenience IoT data marketplace is the revolutionary Smart Contract that the blockchain technology has made possible. From the agricultural sector to manufacturing sensors and even Smart Cities or the Academic sector, every industry has the chance of participating in brokering and selling their data to make that extra buck that can easily be deployed for growth.
Smart Contracts facilitate the process of trade as neither buyer nor seller of the said data can behave maliciously due to the immutability of the Smart Contracts. Trust is not an issue as these Smart Contracts are able to foster trust and enable business, where mistrust would have previously made it impossible.
Data is often called the new oil, as it is the tool that single-handedly generates revenues that have since outreached the oil industry or any running solid mineral market. But data is of no use unless it is processed and translated into something useful. The Data Broker platform is about to create a whole new industry from nothing, an industry that is projected to be worth tens of billions of dollars in a short few years.
Not only will DataBroker open new ways of making money for organizations from their otherwise redundant sensors that cost money to maintain, it will also foster a more rapid innovation in diverse sectors, and industries across the world.