Market for Data Analysis and will do the first major ICO on the Lisk Blockchain under German law. MADANA ICO rating – not rated.
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PRE ICO Dates : 01/09/18 – 30/10/18
About MADANA ICO (token sale)
The MADANA – Market for Data Analysis – ecosystem empowers everyone to participate in the data market with their own data, while simultaneously preserving their privacy. The PAX token enables anyone to buy data analysis results from a decentralized pool of information while rewarding data producers and plug-in providers for their contribution.
Individuals create significant amounts of data while
using daily devices such as mobile phones, tablets, smart home devices, and computers. In most cases, data producers give up all rights of their data by agreeing to nontransparent terms and conditions. Data brokers sell this data to big corporations making substantial profits. The data producers are left without any control or profit. Currently, most of our data is stored in centralized servers, which are popular targets for hacker attacks, who gain access to sensitive information and leak it. The progress in global data protection policy is slow and the market for big data grows continuously. As the amount of breaches, leaks, and hacks is increasing severely, a new approach to handle data is needed. It is time to regain the control over our own digital identity.
MADANA is building an innovative data analysis market ecosystem based on the Lisk blockchain that allows data producers, data analysis buyers, and plug-in providers to become active in a fair, anonymous and privacy-protecting open data market. For the first time in history, decentralization is bringing transparency, balanced value distribution, and efficiency.
The MADANA ecosystem encompasses the following key elements:
- Client-sided data storage and easy to handle encryption framework to retake control of personal data
- Monetization of anonymous data contribution through PAX token
- An open, blockchain-based data analysis marketplace for everyone
- Monetization of analytics and data science skills through PAX token
- Reliable analytics of internal and external data for business purposes
- A decentralized, non-manipulatable pool of information
The PAX token
The PAX token will serve as the native currency of the MADANA platform. To run and distribute rewards across a global network of participants, a blockchain-based approach is an ideal solution.
PAX is the token that represents fair and trusted data analysis. It stands for privacy, accessibility and exchangeability.
We distribute PAX for crowdsale contributions to enable the long-term development of MADANA. The PAX token will be used for transparent and automated payments via smart contract between all participants. It is the reward for data producers and plug-in providers for participating in the MADANA network.