DataX Protocol is a suite of #DataFi tools that aims to create a decentralised financial infrastructure for datasets. Within DataX ecosystem datasets are a first class citizens. DataX aims to create money markets on datasets to make them a liquid asset.
Let's start with an example of Gold. Gold at its core is a metal but today Gold is considered to be a prime asset in Financial World because there are various money markets created around (e.g.) Gold Trading, Gold Futures, Gold as Collateral for Loans. Such money markets makes Gold a liquid asset. Same can be said for Oil too.
Today everyone knows the importance of quality datasets. But, it's still not considered as a liquid asset. Why? Mainly 2 reasons -
1) Each dataset is unique meaning unlike gold or oil, there is no standard price for a given dataset. Hence, its difficult to value datasets like we do to other assets like gold, oil etc.
2) There are no financial tools created around data to make it accessible and valueable to anyone owning data. (e.g.) A company cannot use their inventory usage data as a collateral to borrow against.
DataX will create a decentralised financial infrastructure around datasets using Ocean Protocol pioneered datatokens, to make data a liquid asset. Using DataX, users will be able to -
1) Invest in datasets for price appreciation
2) Trade datasets to generate profits
3) Use their datasets as collateral to borrow against
4) Buy insurance on their data purchases
... and many more use cases
Our products and tools are designed to create a best user experience and are flexible enough to be used by third-party dapps and services. We are creating data legos that can then be combined and integrated in various ways by other developers to create complex money markets on datasets.