Part 1 - Proposal Submission (*Mandatory)
Name of Project: DataSwaps
Proposal in one sentence:
A data management plugin that helps individuals and corporations tokenize and earn from latent data assets online and offline.
Description of the project and what problem is it solving:
DataSwap allows data owners to tokenize and earn from their massive internal data troves, aggregate their data into personal data marketplaces for maximum value and share data seamlessly.
Grant Deliverables: (Provide us with a check-boxed list of deliverables for the funding provided)
- Build a landing page to help onboard prospective data merchants and sellers - Waitlist.
- Start building social media communities to expose the project more to the public.
- Architect the data management dashboard for individuals and enterprises.
Which category best describes your project? Pick one.
Build / improve applications or integration to Ocean
Which Fundamental Metric best describes your project? Pick one.
Data Consume Volume
Data Consume Volume
- Ocean Community gets 0.2% of Consume Volume. 0.2% *5,00,000 / month * 12 months = approx 120K OCEAN
- So bang = 120K OCEAN.
- Grant size = buck = 2895.25K OCEAN
- So ROI = bang / buck = 120K OCEAN / 2895.25K OCEAN = 41.44719799671876
- Proposer’s estimate of % chance of success = 35%
- Final: expected ROI = 0.35 *41.44 =14.5 (which is above the demanded ROI of 1.0)
What is the final product?:
DataSwap is a consumer insights data marketplace built on Ocean Protocol enabling ethical and legal data exchange. With our solution, a user connects seamlessly with their browser and apps - allowing them to extract your data to a single place, coupled with smart algorithms that protects your privacy, excluding all personal information such as your name, address, emails and credit card details.
- The App will live in the iOS and Google App Stores in line with our roadmap.
- Data will be made available on the Ocean market.
- Browser plug-in or links to sell the latent data on your browser (cookies, bookmarks, browsing history) seamlessly.
Funding Requested:
$2895.25
Proposal Wallet Address
0x775750BE6487A630f979A5b8891a36738Cb6648b
Have you previously received an OceanDAO Grant (Y/N)?
No
Team Website (if applicable): Nil
Twitter Handle (if applicable): Nil
Project lead Contact Email: richmondelaigwu2@gmail.com
Country of Residence: Kenya
Part 2 - Team
Core Team
Name: Richmond Elaigwu
Role: Project Lead
- Background/Experience:
4 years background knowledge and experience in building multiple startups across several sectors of the both Local and international Markets (with a focus on data inclusion). A Technology & IT development enthusiast with diversified portfolio cut across internal and national brands like Hyperfan, Bundle and YellowCard. Involved in building and advising multiple projects since 2018. Also keen and passionate about introducing the world to the benefits of Decentralized systems and Crypto in General.
Part 3 - Proposal Details (*Recommended)
Data management today is characterized by poor security architecture, Lack of privacy in data management and the outright absence of a single point for data control, leading to little to no transparency in data management. To address these problems, we are implementing multiple layers of securities to protect your data where no one can access your data without your permission. For each data set (from smartphone data, smartwatch data, browser data, shopping data) there is a data token mined. To create more value, the owners can aggregate the data into a data class and create a sub marketplace on the platform to gain maximum benefits from the data collection. For businesses, they can convert their data silos into fungible assets (via datatokens), automatically discover the prices (via AMMs), made possible via Ocean Protocol data infrastructure. We will also be able to make data financial assets that can be used or collateralized to obtain loans or funds for other purposes.
Project Deliverables - Category:
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App will be live at: www.app.dataswap.io
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Is the software open-source? (N)
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**If open-source, please specify the license. If no, please specify why not open-source. **
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As the project is still relatively new, we don’t want to risk exposing confidential intellectual property to the general public by making it open source. We also wish to fix the fundamentals of the code and make it very robust and not just functional as this is the core of the project. We want to do certain things the right way, from keeping the life cycle development to proper documentation of the code base to proper automated test writing and for this reason we have chosen not to go open source with the project at this stage.
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Project software can be found at:
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Nil
Project Deliverables - Roadmap
- Any prior work completed thus far?
So far, we’ve been able to:
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Create and assemble an effective and highly Motivated Team to push the project.
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We have also been able to set up our team workflow with documentation and a product repository.
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What is the project roadmap? That is: what are key milestones, and the target date for each milestone.
Q1 2022:
- Build the mockups, prototype and website for the project.
- Publish media articles explaining Project Updates and Roadmaps.
- Release Data Swap White paper and Lightpaper.
- Expand the already existing community through massive publicity strategies.
Q2 2022:
- Release technical whitepaper
- Launch the first marketing campaign
- Launch our different reward programs.
- Create a user dashboard with summaries of important data feeds, earned data tokens.
Q3: 2022:
- Connect to the Ocean Market.
- Publish multiple datasets to Ocean marketplace.
- Announce strategic partnerships for growth and expansion.
Q4 2022:
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Introduce a data-token exchange functionality, including decentralized swaps, sending and receiving.
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Release a mobile application on the App Store and Play Store.
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Launch a governance token
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​​Research multi-chain deployment
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What is the team’s future plans and intentions? Is there maintenance? Possible extensions to the work?
In future, Data swap aims to delves into the development of indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem.