Overview:

We live in an era where more data are stored digitally with or without our consent. Your name, favorite, family background, region and location, hobbies, education accomplishments, gender, age, the list can go on with anything that has to do with human personalities and are own by large organizations (Google, Amazon, Facebook, Linkedin, Twitter, WhatsApp, SnapChat etc). All these information are used for the benefits of the holders for marketing purpose with a targeted audience and sometimes come with annoying Ads, an unwanted promotion that is difficult to resist.

Users inadvertently gave consent by agreeing to the user conditions in order to be able to use the services provided with zero knowledge about what happened to data thereafter which all the big tech companies monetize with little or no n=benefit to the user. In fact, data is the biggest takeaway in our digital era.

Datafundhas come to put a check into this by providing a platform where you have full control of your data (own, reclaim and manage your data) effectively. Datafund project is a protocol and a distributed application (dApp) that guards personal data, provides safe storage and enables provable personal data exchange. Information is shared anonymized or on a need-to-know basis according to an agreement between exchanging parties.

THE PROBLEM

Tinder knows your sexual preferences, Amazon knows what you talk about at home, Facebook what you believe and Google what you’re about to buy. IBM needs only 200 tweets to break down personality into 50 different traits (Venture Beat) — that was three years ago. The mission is to know as much as possible about you before and better than you know yourself. Predictive is the buzzword.

Humans forget, computers don’t. The talkative digital trail we are already leaving now — without being aware of it — will only be expanded, more detailed and more actionable. We lock doors but leave access to the mind wide open.
There is an invisible battle happening, the battle for your mind and personal liberty where we are constantly profiled for weak spots and impulses. The internet has been weaponized, data is ammunition and we are all going to suffer if we don’t act now. It has already started. In the future, we will be by default recommended or black-listed by algorithms which sort through our data. Your job, credit score, spouse, house. Just a number.

DATAFUND SOLUTION

Reclaim your data, reclaim freedom: The world is becoming data-driven and the biggest takeaway from any individual is data. Personal data is becoming more sensitive and we are more vulnerable than ever before. Now it’s time to reclaim, own and manage personal data. Datafund is a protocol that guards personal data and provides safe storage and enables ethical data exchange.

Datafund leverages blockchain technology to deliver an uncompromisingly  transparent personal data exchange. Information is shared on a need-to-know basis according to an agreement between exchanging parties. Datafun has already developed a working product which is currently being tested on 20,000 customers with the key technical features already in place for the reclaiming phase.

Towards a democratic data society : Humanity first — EU & GDPR

Datafund embraces this vision of the future with a strong belief that blockchain is the technology that is the enabler of the grand GDPR vision — citizens should have control over their data. Today, we have consumers with no rights or who are not aware of their rights, sometimes with some data on one side, while on the other side are corporations and digital services that have enormous quantities of (personal) data and almost no rights to use them. Many global services and applications based on personal data today are using data in a way they should not. On top of that, efficiency without sacrificing transparency can be drastically improved.

The three primary entities in the personal data economy

In the spirit of the new understanding of the personal data economy and centrism of the individual within it, we understand data owners as individuals (the GDPR calls us data subjects), primary consumers who provide the raw material — the data about them — to companies and other organisations.

We want to bring these two worlds together. Our goal is to give a reliable and easy-to-use solution to companies that want to treat personal data in an ethical way. Through our extensive meetings with companies over the past months we’ve identified four sets of problems that businesses have with personal data:

1. There isn’t always really a good return on customer data.
2. Data quality is often underwhelming and significant effort is required to make use of it.
3. There’s a jumble of global regulation and mounting pressure from regulators and customers for personal data protection.
4. No simple and comprehensive solutions exist that connect user data from different platforms into one cohesive picture.

Founders

Mihael Modic: Cofounder, CEO LinkedIn

Zenel Batagelj: Cofounder, Chief Strategist LinkedIn

Gregor Žavcer: Cofounder, Protocol LinkedIn

Viktor Tron : Cofounder, Protocol Twitter

DEX Token

To enable personal data management and exchange network, Datafund will create a DEX token which is an ERC777 token (also ERC20 compatible token) and acts as a non-security consumer token. DEX token utility can be summarized in these distinct cases which will be enabled gradually, as protocol development reaches planned milestones:

• Staking for listing in token curated registries and for service providers
• Decentralised governance
• Payments (optional)

Token sale and use of funds

Hard cap (Manage milestone): 20,000 ETH

Soft cap (Reclaim milestone): 3,000 ETH

Emitted tokens (incl. Seed and bonus): 40%

Rate: 50,000 DEX for 1 ETH