Intro to Data Unions
An overview of the Data Union framework
A Data Union is an organization with an application where individuals participate in the creation of valuable data. Members generate data through the data unions' application which crowdsources data. That data is offered as a product on a marketplace for potential buyers. The money from data sales is used to reward its members for providing valuable data.
With a data union you enable your users to be included in earning value from their data.
By building a Data Union, your users are incentivized to use your app as they are rewarded with tokens for sharing their data through your app.
Building a data union is a great way to collect datasets that may otherwise be difficult to source. Some examples include real-time health data, web user data, pollution monitoring, smart city data and more.
Here are three real-life examples of what a Data Union could look like: 💻 Swash - a browser extension that monetizes browsing data. 🚙 DIMO - an IoT device and app for smart cars that monetizes vehicle data. 🏦 Unbanx - a mobile app that monetizes banking data. Read more here
The Data Union framework powers applications that incentivize people to participate in the crowdsourcing of valuable data. It enables people to earn with their data.
Smart contracts and decentralized networks are used to transfer tokens and data. It is the infrastructure that powers data unions.
The framework is a token distributer and a member manager.
An overview of the Data Union framework infrastructure
- 1.User joins a Data Union
- 2.User grants permission and consent to the data union to have their data monetized
- 3.Data is created and crowd-sourced through the Data Unions' application
- 4.Data flows through Streamr Network into the marketplace
- 5.Data is bundled as a product for sale on data marketplaces
- 6.Data is bought by a buyer
- 7.Revenue from data sales flows through the smart contracts via the EVM-chain of your choice and is split between the members, the data union admin and the DU DAO (1%).