Dataeum’s blockchain solution to produce 100 per cent accurate data through crowdsourcing

CAF dataeumFirst Blockchain Solution that produces 100 per cent accurate data through crowdsourcing. (Image source: Adobe Stock)Dataeum has launched the first collaborative solution enabling the collection of 100 per cent of world’s ‘physical data’: stores, road signs, gas stations or any visual elements

The aim is to deliver a practical solution to the digital marketplace to help people gain value from the data they create. This solution brings together crowdsourcing and blockchain to give people an opportunity to benefit from their data.

The current status quo is that people unwittingly create value-adding data from their daily lives. All this interaction generates quantities of data that have enormous value to large corporations. The value of this data is a key element of the digital world.

However, one of the downsides of this huge creation of data is poor data quality causing large losses. Dataeum estimates this loss to be approximately US$3.1 trillion, in the US alone. On maps, only eight per cent of the pin points are accurate as in the world and 80 per cent of online listings display inconsistent, inaccurate or missing physical data.

With the new solution, Dataeum aims to put individuals at the centre of data generation.

Joakim Holmer, vice-president at Ericsson and founder of allcoinWiki, noted, “People have become very generous with their lives in the digital domain, this demonstrates the level of trust we have developed for the digital world.”

“Dataeum has achieved a situation where it can help maintain that trust but adds a new dimension, an opportunity for people to be at the roots of data generation and its efficiency,” Holmer added.

Dataeum’s process begins once data is collected and verified by users. The data is then made available in a decentralised marketplace, where access is granted to interested companies looking for that type of data. Dataeum aims to democratise the access as data acquirers can get reliable and accurate data in real time.

“It is important for people to have control of the value of the data they produce. Dataeum offers an interesting innovative solution to help return this control back to the users, and make it very reliable,” said Simon Cocking, advisor for Dataeum.

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