Datum Network ICO — Ambitions and reality
The goal of the project founders is to create a global data exchange by converting data into a commodity. In fact, the project will be a decentralized system of Apple Health Kit.
Launch of the ICO is on 17 October, 2017 UTC 14.00
Every day Internet users produce a huge amount of data, the lion's share of which does not belong to them. Companies such as Facebook and Google are prospering by collecting huge amounts of user data in exchange for free services. After all, "If you do not pay for it: you are not a customer, you are a commodity," the founders of the project believe.
The goal of Datum is to offer the chance for users to own virtual data by themselves. Moreover, as a client, the project intends to attract corporate and government structures, presenting them the opportunity to quickly exchange large and secure data sets.
The Datum platform has its own prospects, but only in case if it will be actively used by corporate and state structures. This raises the question of how much the same NASA, mentioned by CEO Datum, will be ready to share their data through the blockchain technology in a situation when the governments of many countries openly declare their cautious attitude towards the ICO. The rate for attracting public clients is low. As for corporate clients such as various research agencies, financial structures - the service represents the prospects of a large sales market. Datum can also be useful for individual users - students, doctors, scientists, etc., for the purchase or sale of their work or other personal data.
Representatives of Datum state that they are ready to become a global and unique service for both data storing and selling.
From the point of view of competitive analysis, the market for Datum is fully open, however analogues of such services still exist. Pillar and Brave browser are key competitors, but Datum is the first project to apply the blockchain on a scale that is capable of global capturing the data market.
As for Datum technology, it looks no less presentable than other ICO's. Standard offer of tockens is on the Ethereum standard (ERC20). The use of IPFS is also an advantage. Concerns are mostly caused by the use of JSON, because the security system is not perfect. Datum may be said to use the best out of available, but not unique.
By the way, Datum was at ease to publish his code to the project on the GitHub platform, which shows the openness of the startup. But they still don't have significant partners.
DAT is a token, not a share - says White paper Datum.
DAT token is for sale.
The purpose of the token is to form an ecosystem and provide trading
Participation in ICO is available to all, except US citizens and Hong Kong SAR.
The amount of the issue is 3'000'000'000 DAT
Proposed for the sale 1'530'000'000 DAT
Investments are accepted in the ETH.
Price 15000 DAT = 1 ETH
The upper limit of the investment amount: 153'000 ETH
The type of the token indicates that the main advantage for its owner is the use of services. It means, that Datum tokens are not exactly company stocks, and accordingly, problems with legislative bodies should not be foreseen. The registration country is Switzerland. This country is still stable for ICO.
The minimum price for buying tokens is small - only about $ 30, which makes it possible to attract small investors. The pre-sale was successful, the platform collected for two weeks the necessary amount of 5000ETH. Moreover, the sum was collected gradually on the basis of a policy of "equitable distribution of tokens".
Now the team owns 20% of the released tokens and another 29% is in reserve. That means, almost half of the tokens today belong to Datum.
What to do with DAT tokens after purchase? There is only two options - to use on the Datum platform or sell.
There is also interesting information in White paper about the elimination of DAT tokens in the future. When tokens are exchanged, they are destroyed using the Proof of Burn algorithm, which means deflation in the near future. This should lead tockens to growing in price. It is assumed that Datum will bring its token on the secondary market, but so far no specific information on this matter is given.
Datum - ICO's popularity and sale
The company regularly makes notifications in social networks on the subject of blockchain and launching the ICO, but these messages do not give the clear information about the stage of implementation process. There is not much excitement around Datum. The co-founders regularly participate in various cryptocurrency, blockchain and ICO world conferences. In general, potential users feel interest in Datum.
According to the Roadmap, Datum was supposed to launch a demo version of the Datum mobile application before the end of August, but there is still no information about its launch. However, the alpha version of the project was released on September 12, 2017. The launch of the main network is promised in June 2018. Specific steps and details of the implementation process in White Paper are not mentioned.
Data security remains the main problem. Nobody gives 100% quarantee of hacker attacks detection. In addition, there is a risk of downloading to the platform and selling fake data. In this regard, Datum will launch a rating system for evaluating sellers, any buyer will be able to leave a mark or a response about their purchase and thereby warn other buyers. What if the sale of data is carried out for the first time? For this case Datum hasn't found the solution yet, the transaction is carried out on trust. Datum also promises to fine the irresponsible sellers.
The idea of a startup is quite unique. This is perhaps the biggest advantage of the project. Datum doesn't have direct competitors yet. The technology of the startup allows to ensure the security of data as much as it can on the base of blockchain technology. In charge of legal matters, Datum is safe, their token is very difficult to call a share even in case of the most unfavorable situation. The startup is aimed at attracting medium and small investors, and it is possible to participate even with $ 30 in the account. Talking about unfulfilled promises - it is definetely launching a beta version of the mobile application. The excitement around the ICO in the market is average. In general, the project deserves attention and has long-term prospects.