On April 6th, Blockchain Asia 1st Meetup was held in Seoul, South Korea. In terms of popularity, Seoul has always been one of the centers of blockchain and cryptocurrency. Thus entrepreneurs, developers, investors, and opinion leaders from different countries and regions gathered at the meetup.
Blockchain Asia is jointly organized by GBIC (Global Blockchain Innovative Capital), FBG Capital and Block72. The DATA team was invited to the meetup. Our founder Franklin Song introduced the expectation and technology of the DATA project to many participants and received an interview with Korean media after the meetup.
At the meetup, Franklin explained that the core of DATA is a data trust protocol in the digital ecosystem, and it is expected to be a data quality control standard for the terminal data ecosystem which is similar to the ISO quality control system.
Franklin points out two pain points in the field of mobile digital advertising in the digital ecosystem that DATA is currently addressing. From the perspective of data owners (such as end-users), they lack the incentive to contribute their own attention to online advertising. And the serious fraud of advertising flow always defrauds the budget of data consumers (such as advertisers) and reduces the revenue of data producers (such as mobile developers).
DATA’s expectation is to reduce the trust costs of upstream and downstream partners through blockchain technology, increase efficiency, and at the same time provide feedback to those who truly create value.
At the same time, Franklin also introduced that DATA technology mainly includes P2P mobile storage layer, blockchain layer, SDK management layer, and application processing layer. He said: “ Through these underlying technologies, the terminal data’s trustworthiness score can be recorded on the blockchain, in order to prevent the flow of false information from entering the digital ecosystem at the source and promote the sound development of the entire ecosystem.”
The concept of DATA Franklin elaborated was widely recognized by the guests present. In the Q&A session, the audience questioned why DATA had to establish its own chain. Franklin Song stated that Ethereum has a bottleneck in speed and the number of transactions it can handle per second is limited. High TPS is required in the online data authentication protocol to support the corresponding application scenario.
At the same time, DATA also needs to have an independent chain to achieve resource isolation and to achieve independent incentives through its Proof of Attention (POA) system. Besides, in the future, a series of business models such as Micro-payment and In-App purchase will also be achieved based on the DATA infrastructure.
When asked if there are any competitors in the industry, he pointed out: “DATA is the underlying protocol for data trust, and data fraud is an important issue that has plagued data marketing and other industries for years. The competition will only make the industry better. DATA also hopes to introduce more upstream and downstream global partners in the industry, to jointly maintain the data trust ecosystem, and provide more comprehensive infrastructure and solutions of data quality control for the entire terminal data ecosystem through block-chain, artificial intelligence, and other technologies.”
After the meetup, the DATA team accepted an interview with a reporter from DATANET. It is expected that DATA will soon announce the strategic cooperation with industry leaders in digital marketing in both Asia and the United States.
The technicians from the Samsung R&D institute expressed great interest in the DATA project and hope that both parties can reach a cooperation in technology in the future.
During the meetup, DATA increased the lucky draw, and 10 lucky guests received the DATA Token award. At the same time, the participating guests, Korean media MTN, Cointime, and Blockchain News, met face-to-face with the DATA team during this meeting to understand the underlying technology and future development of DATA. DATA will cooperate with universities in the future and explore more possibilities with the support of strategic partner Yomob.