DataBrokerDAO Basic Review
|Start ICO||26 Apr 2018|
|End ICO||26 May 2018|
Name: DataBroker DAO
Ticker symbol: DTX
Project Type: Internet, Cryptocurrency, Platform, Smart Contract.
Extended company description: DataBroker DAO — a blockchain-based marketplace for selling and buying IoT sensor data.
Company: SettleMint NV
Start of Public ICO: 26.04.2018
End of Public ICO: 26.05.2018
Token Sale Duration (weeks): 4
Token type: ERC20
Total number of tokens issued: 225,000,000
Tokens available (Pre-Sale + Public ICO): 108,000,000
DTX Price: 4,000 DTX = 1 ETH
Accepted payments: ETH
Bounty: the program is active until the end of the Token Sale.
Token Role: Functional
Team size (number of persons): 12
Number of advisors and partners: 4
DataBroker DAO is a marketplace for IoT sensor data that will unite sensor owners and data buyers. This will be done through the infrastructure of communication service providers maintaining sensor networks based on GSM, LoRa, SigFox or through proprietary gateways.
The platform is focused on:
DataBroker DAO is connected to the SettleMint company (Belgium, UAE) [https://settlemint.com/about], a startup company focused on creating tools that simplify the creation of blockchain applications. The project concept was developed at the end of 2016.The project team is currently based in the offices of SettleMint in Dubai.
The DataBroker DAO ICO is carried out by the SettleMint legal entity.
- Jonathan Johnson (LinkedIn) — member of the Board of Directors at Overstock.com, PeerNova Inc., Bitt, SettleMint, President of Medici Ventures.
- Richard Kastelein (LinkedIn) — co-founder of Cryptoassets Design Group, co-founder and managing director at Blockchain Partners, editor at large at Blockchain News, ICO expert at ICObench, member of the Advisory Board of ShareRing.
- Patrick Byrne (LinkedIn) — founder and CEO of Overstock.com, previously, president & CEO at Fechheimer, chairman, president & CEO at Centricut.
- Julien Marlair (LinkedIn) — business development and innovation manager at Proximus, previously, radio network coverage and performance engineer at ASTRID.
- AmaZix — a company that helps in carrying out ICOs.
- Sigfox — an IoT connection service.
- Enterprise Ethereum Alliance — connects businesses, startups and Fortune 500 companies with experts on the subject of Ethereum.
Attracted investments: the project has already held the first Token Sale (DATA ticker) in September 2016, with a long-term token lock. The amount of funds raised was ~ 960 ETH. [https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf]
The project is based on a marketplace which allows owners of IoT sensors and data buyers to make deals. There is also a community of companies around the platform, where organizations can interact with each other for joint development, the DataBroker DAO Alliance.
Strengths of the project:
- the market where the team is working demonstrates high growth rates.
- an experienced team and advisors.
- a functioning beta.
Weaknesses of the project:
- it is undervalued within the blockchain community.
Market and Industry
According to Markets and Markets, the market for IoT sensors is expected to reach $38.41 billion by 2022, making the annual growth rate, between 2016 and 2022, 42.08% . This growth is also confirmed by the Statista analytical agency.
According to the results of the research conducted by project team, the size of the market for IoT sensors increased from $600 billion in 2015 to $900 billion in 2017. It is expected that the market will reach $1,300 billion by 2020 and $1,600 billion by 2024. [https://medium.com/databrokerdao/how-the-databroker-marketplace-for-iot-sensor-data-adds-value-to-the-iot-industry-1a282e286135]
The number of installed IoT sensors will grow from 9.7 billion in 2014 to more than 25.6 billion in 2019 and 30 billion in 2020. [https://www.verizon.com/about/sites/default/files/state-of-the-internet-of-things-market-report-2016.pdf]
As for the market of IoT sensor data sales, the team valued it at $270 billion at the end of 2017 and expects it to increase to $500 billion by 2024.
The DataBroker DAO marketplace will be formed for the sales of data from IoT sensors. The DataBroker DAO Alliance will create a community of companies that work with data as well.
Comments: The team’s estimate of the volume of its market niche is based on the data of sales of IoT sensors. On this estimate the project builds its economic model. We believe that this is quite possible in this case and the bet on the sales of data from installed sensors can be justified.
The following competitors can be found in the WP:
- Streamr — a platform for P2P traffic.
- IOTA — allows companies to share data and services.
- OceanProtocol — an ecosystem for the exchange of data and related services.
In addition the following can also be identified as competitors:
Summary: According to the team, competitors should be regarded as partners, because in the future their integration is planned.
Engineering Features of the Project
The platform is built based on blockchain technology using dAPI and smart contracts.
dAPI is an API application deployed in each shared node. The primary application of dAPI is focused on cooperation with the gateway operator, data processors and large data sets on the buyer's side, but not on the side of the sensor's owner or on small scale buyers. The latter will use (existing) interfaces provided by the gateway operators or DataBroker DAO dAPP. [https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf]
In the future it is planned to introduce the GasStation concept presented by Swarm.city to reduce transaction costs when increasing user base.
The main component of the platform is the registry of sensors and passwords/files. All the streams of IoT data coming from sensors will be saved in DataStreamRegistry.
To control the sensors' identifications uPort will be used (the platform works with "Managed Proxy Identity" contracts). [https://www.uport.me/]
The platform will provide the following services:
- to the owners of IoT sensors: monetization of IoT data. The owner receives 80% from the sale of their services and makes small regular payments for adding a sensor to the platform.
- To the buyers of data: the purchase and use of the data or resale of the data with added value (that is, with the introduction of any changes).
- To the data processors: improvement of data through their input and analysis with the subsequent sale. Processers can be classified into:
- data services — gathering information from various sources, bringing them together and organizing them.
- services offering data mining — processing estimate data using analytical rules and calculations.
- adaptive services — analyzing certain customer data along with the data in the repository.
- Operators of gateways: opening gateways so that the owners of the sensors could sell IoT data on the platform. Operators receive 10% from sales of data on the platform.
The platform also created the DataBroker DAO Alliance, a community of participants of the data market. The main objectives of the community are mutually beneficial cooperation and business integration. At the moment, the Alliance includes the following companies:
Comments: The project has a beta version of the platform available at. [https://beta.databrokerdao.com/account]
In the future, as technology and data are being developed, it is planned to implement the following:
- Q2 2018: release in the Mainnet, integration of network operators.
- Q3 2018: design, web development and mobile application development.
- Q2–Q4 2018: implementation of libraries and integration with commonly used tools.
- Q1 2019: integration of enriched data.
Comments: The team introduced a step by step strategy for the project development. However, the plans presented in the RoadMap are not fully disclosed in the WP.
The following active modules are presented in the open repository:
- databrokerdao-dapp — input account data.
- databrokerdao-dapi — DataBroker DAO distributed API.
- crowdsale-contracts — smart contract for the ICO.
- eth-contract-metadata — displaying ethereum control points for metadata.
- eth-phishing-detect — a tool for the detection of phishing domains.
- ethereum-lists — storage for the lists of malicious URLs, spoofed token addresses, etc.
Comments: The project has 7 open modules: The repository belongs to DataBroker DAO.
We have analyzed the DataBroker DAO site and documentation for sufficiency and consistency to make an investment decision.
Information about the project is contained in the White Paper and in the Onepager. The documents are available in English, Russian, Spanish, Arabic, Turkish, German, Portuguese, Korean, Japanese, Italian, French and Chinese. The project is described in detail in the White Paper. The main emphasis is placed on the functionality of the platform, the process of its operation and the market review.
The website also provides information on: the project, Alliance, events, vacancies, RoadMap, ICO, partners, team and advisors. The site is available in English, Russian, Spanish, Arabic, Turkish, German, Portuguese, Korean, Japanese, Italian, French and Chinese. The advantage of the website is the detailed description of the project and a link to the beta version.
Summary: The documentation provides an insight into the project. The platform operation and the provided services are described in sufficient detail.
Percentage of tokens to be issues for sale: 48%
Start of Public ICO: April 26th, 2018
Token type: ERC20
Accepted payments: ETH
1 DTX price: 4,000 DTX = 1 ETH
Crowdsale duration: 4 weeks, until May 26th, 2018
DTX Tokens are commodity tokens on the DataBroker DAO platform. DTX tokens are tokens of an ERC20 standard with 18 decimals. The token will serve as a means of circulation for the purchase and sale of sensor data on the platform.
The DTX Tokens are based on the MiniMe tokens (contracts). The token software code in the language of Solidity is available here: https://github.com/ DataBrokerDAO/crowdsale-contracts.
This means that the project can easily create "clones" of the token, repeating the story of the original token for a token upgrade (updates and improvements of modular components), or to the fork; for example, for more effective management.
Earlier, the project already had the first token sale in September 2016, then the token was called DATA, later it was changed to DTX.
Token limit: 225,000,000
Advantages for token holders: the tokens are functional which allows one to either use the platform services or sell them (tokens).
Additional issue of the tokens: No
The sale of tokens is carried out with the following bonuses in several stages:
The trading of DTX Tokens on exchanges is scheduled to start on May 30th, 2018.
Max Goal: ~ 27,000 ETH
Minimum Goal: n/a
Link to the Bounty: https://bitcointalk.org/index.php?topic=2909180.0
The project allocates 1,125,000 DTX (~ 281.25 ETH), 0.5% of all issued Tokens to the Bounty program. The program will be open in the following directions:
Summary: The project has an extensive bounty program. All the terms of the program are specified in the link. The rewards will be distributed within 30 days after the end of the Token Sale.
Token and Capital Distribution
Tokens and capital are distributed according to the following scheme:
Summary: Tokens do not affect the distribution of shares in the company. The reward system is built so that it is cheaper to buy tokens earlier.
5% of the tokens are reserved for the team as a bonus over the next 4 years.
30% or 67,500,000 of the DTX Tokens will be withheld until January 1st, 2021.
An additional 10% of the Tokens are allocated to the platform fund. Expenditures from the fund will be used to give corporate clients an opportunity to purchase Tokens for fiat currency, which will facilitate the transition of key users to the platform.
Roadmap of the project
- Q2 2018: expansion of the team.
- Q2–Q4 2018: attracting new partners, work with Alliance members to create valuable services on the basis of primary data processing.
Summary: On the basis of the WP, the project will build a system of promotion around creating their own community, the Alliance, and the marketplace for the sale of data.
The team consists of 12 people, as well as 4 advisors. Information on the core members of the team (LinkedIn):
- Matthew van Niekerk (LinkedIn) — co-founder and CEO at DataBroker DAO, CEO and co-founder at SettleMint, vice president of European Partnerships at t0.com, previously, business architect at Bolero Crowdfunding, head of platform innovation and development at KBC Securities Bolero.
- Roderik van der Veer (LinkedIn) — co-founder and CTO DataBroker DAO, co-founder and CTO at SettleMint, earlier, founder of Blockchain Vlaanderen, technology director at Kunstmaan, IT project manager and developer at Smartlounge.
- Charles de Bergeyck (LinkedIn - CFO at DataBroker DAO, CFO at SettleMint, formerly, founder and co-owner at de Bergeyck & Co., managing director and co-founder at SBV International SPRL, specialist in the field of SAP Controlling at Electrolux.
There are 9 other people in the team.
Summary: Some team members did not specify their affiliation to the DataBroker DAO project. In addition to the founders, the team also has the following experts: marketing director, project manager, blockchain architect, blockchain developer, investment advisor, analyst, engineer, assistant manager, content creator.
Information about the project is available on a variety of popular services such as Twitter, Telegram, Reddit, Medium, Bitcointalk, LinkedIn, YouTube, Github and Facebook. The project’s Bounty program is open.
The team is conducting an advertising campaign on social media. There are regular news updates on Twitter and Facebook.
The format of articles about the project suggests that they were mainly written by the project team as reviews or as an announcement of another project staging an ICO.
Comments: Interest in the project is gradually increasing. The marketing campaign is mainly developed on Twitter and Facebook.
Analysis of the DataBroker DAO site traffic based on Similarweb.com data showed that:
Traffic sources: [https://www.similarweb.com/website/databrokerdao.com]
Comments: direct: 33.83%, referrals: 39.75%, search: 11.58%, social: 12.3%, mail: 2.54%
Search traffic: 11.58%, of which 100% is "organic" traffic
Referral Links: 0.3975
Analysis of the DataBroker DAO website traffic based on the BE1.ru data showed that:
Traffic sources: [https://be1.ru/stat/databrokerdao.com]
Comments: Top 5 countries of site visitors: Belgium — 14.29%, USA — 10.65%, France — 9.84%, Denmark — 5.77%, Sweden — 5.40%.
Referral Links: icos.icobox.io: 43.27%, tokenmarket.net: 25.97%, medium.com: 5.62%, settlemint.com: 5.55%, github.com: 5.48%
Social activity: YouTube: 56.56%, Reddit: 28.63%, Facebook: 14.81%
Analysis of the DataBroker DAO site traffic based on the Analysis data showed that:
Traffic sources: [https://a.pr-cy.ru/databrokerdao.com]
Site evaluation: 0.64
Traffic: visitors: 8,913, views: 35,640
Social activity: score: 3,865, source: 3,865
Summary: Based on the available data on the project, it can be concluded that users are interested in the project. The team is conducting an advertising campaign on Twitter and Facebook, communicating with users in Telegram, attending conferences and forums. There are publications in the media.
In the last month the traffic of the site has increased by 4,000 people.
You can contact the developers through:
The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.