Decentralized data generation platform Dataeum has integrated the Bancor Protocol in its network to provide continuous liquidity for users in its data generation epicenter. Dataeum, the first blockchain platform using crowdsourcing for data generation which is yet to undergo its ICO, aims to reduce costs related to data operation through their decentralized structure. Partnering with Bancor, the platform believes that the Dataeum token, XDT will pertain continuous liquidity for the data marketplace.
The integration was announced in a post by Dataeum that said:
Dataeum, the first collaborative and decentralized platform for data generation, has announced today its integration of the Bancor Protocol to provide continuous liquidity for its Data Marketplace.
The Dataeum platform aspires to become a pivot for the data market operating over physical data and provides transparency on the collection process. This decentralized structure is believed to drastically reduce data acquisition and other operational costs. Dataeum is yet to respond to queries made by BlockPublisher over plans to reveal further integrations.
Dataeum is a unique blockchain platform that uses crowdsourcing as a means to collect physical data such as stores, gas stations, and traffic signs, etc. anywhere in the world with great accuracy. It does so, by using distributed personnel who are termed “collectors” who are compensated via the XDT token to submit physical data.
Dataeum has its own mobile app and has data collection operations active in major cities like London, Paris and Barcelona. It is also licensed to several major companies such as Facebook, Google, Uber, Tesla, etc, proving its model of scalability that ensures profitability.
The Dataeum ICO is scheduled for November 5, with a 50% token sale planned along with a 20% share for the team, investors and bounty, and a 30% to be left in reserve.
Dataeum’s integration of Bancor is touted to be the start of a series of integrations once the project undergoes its ICO and launches fully as planned in Q1 of next year. It is placing humans at the core of physical data generation and paving a way to a greater self-employed economy.
The complete announcement of the Bancor Protocol integration can be found here.