DataBroker DAO Live AMA with Roderik van der Veer & Matthew Van Niekerk

DataBroker DAO Live AMA with Roderik van der Veer & Matthew Van Niekerk

Last Sunday we sat down with the founders of DataBroker DAO (CEO Matthew Van Niekerk and CTO Roderik van der Veer) and our community on Telegram to talk about the data marketplace DataBroker DAO, DTX tokens, ownership and trust. It was our first AMA in a while that sparked conversations and brought our community closer. 

Q: Is DataBroker DAO generating revenue? How are funds and resources divided over SettleMint and DataBroker DAO?

Matthew: At this moment, DataBroker DAO is pre-revenue. The business model is driven by our commercial activity (data buying and selling) and, as we are still in the process of on-boarding data sellers, this revenue is yet to kick in. SettleMint is generating revenue. The cashflow is healthy.

Roderik: On a technical level the SettleMint’s middleware product, Mint, powers 90% of the DataBrokerDAO platform (or at least the new upcoming one) so incentives are aligned there.

Matthew: We are, thus, in a phase with DataBroker where SettleMint is incubating DataBroker DAO until it reaches independent and sufficient revenue generation status. Please be aware that DataBroker DAO is part of the SettleMint’s long term strategy.

Q: If big companies trespass on your technology, do you have a patent, security or a contract for that?

Matthew: We have looked into patents for our technology and based on our lawyers opinion (and that of 3 other patent lawyers) the prospect of patenting in Europe at least is not promising.

That said, given the size of the opportunity for data marketplaces in the next 5-10 years, there are sufficient opportunities for 20-30 companies with the same business model.

“The key to success is not patenting. Network effect will be much more valuable than a patent.”

Q: Tell us more about the exchange situation.

Roderik: We are highly aware of the exchange situation. Over the last two years we submitted for almost all reputable exchanges. We made sure that after the recent delist wave we kept an exchange reporting to CoinMarketCap (unsure why YoBit does not) and one with a fiat on/off ramp. Adding more will not change the low liquidity, we believe any changes in that respect will come from commercial adoption of the platform.

Q: Can you release the pilot version to the public?

Roderik: We are now working on the next commercial release version to go live at the end of October at a big event.

Q: Data transaction process generates more gas costs than other tokens, why? Is there a way to reduce gas costs?

Roderik: At the time of creating the token, best practices (like Aragon, Giveth, … for example) were to base the token on the MiniMe standard. This token stores full history, so we can get, for example, token holders at block x or y. This results in some more gas costs. Read more

Q: Does the platform include all configurations such as Sigfox, LoRa, gsm and telco (WSN) networks?

Roderik: The platform, or the piece that transmits and receives data, we call the DXC (Data eXchange Controller) in v3. DXC can handle files, tcp streams, and acts as an API gateway. Via those options, any protocol can pipe in, and depending on the customers we might add more specific connectors, like ThingsNetwork, Sigfox, etc.

Q: What is the difference between the stream sensor data and the data set in the marketplace?

Roderik: A data set is a “file” so a one-time transmission/download to the buyer. A stream is an open “pipe” where data flows through when a sensor reading happens. In v3 we are adding a third, API proxy, where the DXC is in front of existing API’s.

Q: Can we know the volume of data transactions when the data marketplace v3 goes live?

Matthew: We will take this in our discussions on the design of the upcoming update to the website. It will be interesting to add it as a feature at some point.

Q: The difference between the two configurations is simply downloading and streaming?

Roderik: Yes, also the timing of the data coming in, and the type of data: a stream can not get historical data for example, a file can.

Q1: How does DataBroker DAO relate to the MindSphere ecosystem?

Matthew: We are a MindSpere partner and conducted integration tests with their edge computing hardware together with them. It is early days for MindSphere and we are looking forward to future steps with them.

Roderik: We were able to deploy the middleware on their edge computing machines (so machines at the factory flow next to the PLC that manages the “robots”) and since the two platforms are using the same core, the way to run the DXC on an edge computer is open.

Find out more here

Q: Can you show us some of the designs for v3 platform?

Roderik: The current Alpha version is not functioning. The v3 version is under development. As soon as we can share something, we will! We are very excited about it. Adding experienced UX and graphic designers really ups the game.

Big thanks to everyone who joined us! Stay tuned, as there is more to come.

DataBroker DAO announces its first exchange — CoinFalcon

DataBroker DAO announces its first exchange — CoinFalcon

We’re happy to announce the first exchange to list our DTX token upon release after the main token saleCoinFalcon, a smaller European cryptocurrency exchange based in the United Kingdom, will also be running a battle’ to give away 10.000 EUR worth of DTX to top traders on the exchange. DataBroker DAO community may be curious about CoinFalcon, so in this blogpost we spotlight the more important features of this exchange.

CoinFalcon’s History and Mission

CoinFalcon was founded by Jordan Steeves and opened its doors in October of 2017. The business is located in London, but Steeves is from Washington State and lives in San Francisco. CoinFalcon’s goal is to provide fast, straightforward exchange of cryptocurrencies, initially allowing the purchase of BitcoinEthereumLitecoin, and IOTA with a range of trading pairs. It is accessible by browser or smartphone and offers a community chatfeature for greater transparency.

Moreover, CoinFalcon has already leaped ahead in its quest to dominate the cryptocurrency space by being named AngelLists Breakout Company and rising to ProductHunt’s elusive top featured product.

CoinFalcon is a European exchange with a focus on service to citizens of the European Union. Under its sign-up disclaimer, CoinFalcon states the company does not accept residents or citizens of IranNorth KoreaSudanSyria, and the United States. Fortunately, we’re actively trying to get listed on numerous other exchanges as well, to cover some of these countries for our community.


Like with most respectable exchanges all deposits are free. CoinFalcon charges no network fee for Nano and IOTA withdrawals, and fees for all other supported currencies vary. They recently changed their trading fee structure and makers now have a 0% fee!

Service/Support Tickets

ConFalcon offers 24/7 live chat support. Additionally, CoinFalcon will attempt to recover cryptocurrency that is mistakenly sent to the wrong address for 20€. Of course, they do not guarantee results.

Try it out today:

Other Perks

CoinFalcon stores more than 98% of the reserve cryptocurrency it holds in an offline secure wallet and offers two-factor authentication to its users via a downloadable authenticator app.

Buy with Euro
Buy cryptocurrencies by depositing euro’s first. For this you will need to verify your account like on most exchanges, which will take 5 min. approx.

CoinFalcon claims to offer instant trading. After testing the exchange, we’ve found this to be true.

More than 50 coins available
If you follow the exchange on Telegram you will notice a very consistent listing of tokens. Here you can find all tokens and cryptocurrencies that are available to trade on CoinFalcon.

Referal program
Invite friends and get 50% commission from their trading fees. Login to invite friends!

CoinFalcon appears to have a good reputation among users for its ease of use and low fees. They have added more options to their list of supported coins in the months they have been in business.

The disadvantages of CoinFalcon as an exchange are that it is not open to users from a number of countries, including the United States. Traders must also use cryptocurrencies and cannot deposit or withdraw in any fiat currency. This, of course, means that they do not accept credit cards or PayPal. The CoinFalcon mission statement focuses on serving as an alternative to modern banking and finance.

A great tip we would like to give to the community is to make sure to check the buying and selling price to avoid unfair prices. Due to the overly-simplified UI and sometimes low liquidity, inexperienced users may not know the difference in buy and sell price, leading them to simply push the buttonand trust that the transaction will be fair.

CoinFalcon vs. DataBrokerDAO

The community can look forward to DataBroker DAO debut in the early June after the main token sale, the right date is still to be determined but will be clearly communicated through all our social channels. We’ve also arranged a battle between traders to win 10.000 EUR worth of DTX. All the details about this trade volume competition will be communicated in the near future as well.

We’re aware that this is not a biggest exchange, but after seeing the impressive UI & UX we believe it’s a good choice for most traders. Furthermore, this is a great step forward to help us get listed on some major exchanges in the future.

Any questions, opportunities or partnership requests are welcome on any of these channels:


How to buy DTX tokens during the DataBroker DAO token sale.

How to buy DTX tokens during the DataBroker DAO token sale.

Until June 30 2018 our token sale is live. However, we’ve noticed a striking amount of contributions that fail due to insufficient amount of Gas provided. This blog post will emphasise the amount of Gas needed for a successful token sale contribution. On our website you will find a link How to buy the DTX token, with an extensive explanation to successful conclude our token sale. We strongly recommend you to go through this document if you’re inexperienced in token sales and ICO’s.

What is Gas and Gas limit?

Every transaction in Ethereum network requires a resource called Gas to be executed. Amount of Gas corresponds to the complexity of a transaction. If you set Gas limit too low, your transaction will fail. Think of it just like having gas in your vehicle (ETH in your wallet), and the destination is the ICO address. If you don’t put enough gas in your vehicle to get to the destination you’re going to, you won’t make it. Lower Gas setting will take longer such as driving a fuel efficient vehicle at slower speed. In MyEtherWallet you can set desired Gas price in the top right block.

Any questionsopportunities or partnership requests are welcome on any of these channels:

The mechanics behind the DTX price

The mechanics behind the DTX price

In this article we’ll discuss the rationale underpinning the DTX price. We will run through the business case and commercial targets for DataBroker DAO for the years to come to demonstrate how the DTX price was set.

The initial price of DTX

To determine the market potential of DataBroker DAO,we researched the potential market for reselling Internet of Things (IoT) sensor data. As a starting point, we analysed the primary market for IoT sensor data, that is, the amount that is spent annually on a global basis by companies, governments, academics and individuals to benefit directly from the data generated by the sensors. We define the primary market as the market of beneficial owners of sensors, namely the companies, governments, academics and individuals who purchase, deploy and maintain IoT sensors for their own benefit.

According to Gartner, this industry grew from a 600 billion USD in 2015, to a staggering 900 billion USD in 2017. According to the same study, the primary market for sensors is expected to continue growing at this pace of growth for several years to come and is reaching 1.3 trillion USD in 2020and 1.6 trillion USD per year by 2024.

This expenditure is to purchase, deploy and maintain the 9 billion sensorsthat existed in 2015, the 19 billion sensors in 2017, the expected 34 billionsensors in 2020 and the 45 billion sensors deployed globally by 2024. Suffice to say, the primary market for IoT sensor derived data is staggeringly large.

With a clear understanding of the current and expected size of the primary market for IoT sensors for the years to come, we applied some practical business assumptions to arrive at the expected value of the data generated by these sensors for these primary market participants. To understand the underpinnings of these assumptions, one has to have insights into the way that organisations and enterprises manage investment budgets.

Investment decisions within enterprise typically must pass a threshold, an investment payback period. That is, they apply a maximum “break-even” point for investments that they make, such as investing in deploying a network of sensors to improve operational efficiency. If it cannot be demonstrated that an investment will pay for itself within this period, the investment will not be made. Based on our experience, this payback period is typically 18–24 months.

Thus, to determine the value of the data to the enterprise that the sensor deployment will generate, we divide the total market for sensor investment by the payback period of 24 months.

For instance, 2015 saw 600 billion USD investment by primary sensor owners. The value of the data per year for these primary sensor owners is estimated to be 300 billion USD, 600 billion USD / 24 months = 300 billion USD per year. Following the same set of assumptions, we anticipate that the value of data produced in 2024 will be 800 billion USD per year.

With the primary market value estimated, we analysed the secondary market value of this data. By secondary market we refer to parties who purchase the data provided and priced by primary owners of the IoT sensors. Based on our commissioned research on this, it is expected that 1 out of 10 sensors will be of interest to potential secondary market participants and that on average there will be 1–3 buyers of each interesting data stream.

On this basis, we estimate that the potential value of the secondary market for sensor data to secondary market participants reached between 45 and 135 billion USD per year globally in 2017. With the same set of assumptions about the value of sensor data to secondary market participants and the anticipated acceleration of sensor proliferation globally, we estimate that the secondary market for sensor data will grow to between 80 and 240 billion USD per year globally by 2024.

Interesting to note is that, according to McKinsey, in 2015, there were about 5000 companies active globally in the business of procuring data from diverse sources, enriching, aggregating and selling on data and value added insights to their clients. This industry had, at that point, grown to a 150 billion USD per year industry without access to any of the sensor data that we make available via DataBroker DAO. We anticipate that this group of companies will be early buyers on DataBroker DAO as we provide them with access to data that was previously out of reach, further enhancing and growing this existing industry.

With the top down calculations of the size of the primary and secondarymarkets for IoT sensor data in hand, we spent a great deal of time throughout 2017 discussing with marketplace stakeholders about the willingness of sensor owners to sell access to their streaming data to determine bottom up how many sensors will eventually be on DataBroker DAO and how much sensor owners would charge. For the first part, we set our 2024 target at 225 million sensors on the platform, which will represent less than 1% market share at that point in time.

The key insights gained were equal parts logic and pricing psychology. There is a logical price based very much on the above calculations and there is an equally important psychological dimension to purchasing behaviour. Prices such as 0,245 per week seem abstract to buyers while 1,00 per week seems more understandable from a psychological perspective.

Based on this bottom up exercise and taking into account the non-rational elements in pricing, we determine that the optimal pricing for DTX is at the point where one DTX token represents the average value of the data from a sensor for one week. This allows us enough granularity (at 18 decimals) to work with micropayments and fits the mental frame for pricing. This combined with our 2024 target of 225 million sensors, leads to the pricing of the DTX token:

2 500 000 000 USD/YEAR
— — — — — — — — — — — — = 11.11 USD/SENSOR/YEAR
225 000 000 SENSORS/YEAR

We determine the corresponding price per token by looking at the market predictions in the previous section for 2024. At that time we project to have 2.5 billion USD flowing through the platform for 225 million sensors. The average sensor has a value of ~12 USD per year, ~1 USD per month, or 0,25 USD per week and as such the value of 1 DTX token should equate initially to this number. At an ETH price of 1000 USD / ETH, 1ETH will get you 4000 DTX tokens. We determine the maximum number of tokens issued to be 225 million, the amount of sensors on the platform in 2024.


Stay tuned for more exciting news and insights on &

Any questionsopportunities or partnership requests are welcome on any of these channels: