It is increasingly becoming a norm for the web as well as mobile applications to have an option to enable people to sign up and log in using their social media accounts. By doing so, they are not only making it convenient for the users to use the applications, but also collecting valuable user data in the process. And, this is just one example.

Social media platforms and many websites continuously track the users’ usage patterns including search history, interesting topics, visit to different sites, etc., The collected data is then monetized across multiple levels, starting from targeted advertising to customized offers on various products and services. The user data is of huge interest for various institutions and brands, who pay a lot of money to purchase it from the collecting platforms.

While the platforms end up making money through these sales, the users to whom the data belongs to end up gaining nothing out of it. But, if the users can have control over the data they generate, they will be able to monetize it on their own or gain a share of the revenues generated by platforms that are collecting and selling data.

Datum, a blockchain based distributed NoSQL database platform has come up with a solution that allows people to have more control over their data. The platform driven by DAT tokens, that act as a store and exchange of value allows people to share as well as sell the data on their terms.

As a part of its offering Datum has already announced a mobile client that lets users choose how they wish to manage the data generated by various applications installed on their phone. The easy to use platform offers additional privacy and security to its users. They can also sell the stored data over Datum’s data marketplace and earn some DAT tokens in the process.

Datum recently announced the launch of its DAT token crowdsale, which started with a pre-ICO that began on August 11, 2017. The campaign will go on for a month and end on September 11, 2017. The pre-ICO will pave the way for the main ICO campaign that’s set to go live on September 12, 2017, and end on October 12, 2017.

Up on completion of the ICO, Datum Network will make use of the raised funds for further development and launch the testnet sometime in December 2017. The test net launch will be followed by feature complete release candidate by March 2018 and a full-fledged platform complete with decentralized storage layer, Datum app and Open APIs for trading systems.

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About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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