Datawallet – a monetary wallet for your data creation
January 10, 2018 4:56 am,
Everyone in the current era is engrossed in technology. From toddlers to elderlies, you would find everyone holding a tab or a gizmo in their hands. Tapping into these gadgets, it is undoubtedly clear that some kind of data or the other is entered, but where does this data go? Where is it settled? Is there privacy or security or the data is hoarded? Most of the population uses social media to converse and communicate with the world but a lot of them do not find it secure. The individual users innocently create a magnificent amount of data which the corporate world uses without any compensation to the creators. The creators are oblivious to the fact that the data created or the information made is worth dollars. These individuals lack a tool which allows them to monetize their own data and this is exactly where Datawallet steps in.
Datawallet is a blockchain cryptocurrency network that runs on a platform which enables the individuals to secure the content created and trade it off in monetary terms. The individuals would have to create their local data profiles through a Datawallet supplied app. This will be hosted by the data provider. The individual is requested to create a data content which is collected by the manager using a data key. The data requesters can post the contracts on the open exchange by giving demand through their Request Manager. The Datawallet provides a secure and consensual exchange of data. This is the first hub for develops building Artificial Intelligence (AI) driven applications centered around personal data.
The main optimistic and secure look of Datawallet is that it leverages blockchain technology to deliver a transparent network for monetary exchange of personal data. Every blockchain platform is run by smart contract and cryptocurrencies. So, Datawallet has its own currency Data Exchange Token (DXT). Individual users earn their tokens through generously sharing their data with selected companies. 1 DXT = $0.18 USD and the accepted currencies are BTC, BCH, and ETH. A total of 750,000,000 tokens will be created and the maximum units of DXT sold would be 250,000,000 resulting in the maximum Cap of $ 30M USD. The token proceeds will be allocated for the expansion of the company. 65% will be to the development, 15% to the marketing, 10% to the administration, 5% to the legal department and finally keeping 5% for contingencies that might arise in the future.