The current way in which the global data market is governed is problematic for both data producers as well as customers. The primary issue affecting this domain is transparency, and since there are hundreds of companies operating in this space worldwide, knowledge of how collected data is being utilized becomes extremely hard to track.
Biotron is a user-permissioned revenue sharing data analytics platform that provides customers with a high degree of control over the data they create and distribute— both directly and indirectly. By gradually eliminating data silos that have been manufactured by IT giants such as Google and Facebook, Biotron is aiming to redefine the way in which sensitive personal information is governed and maintained.
Simply put, this platform helps foster privacy, transparency, and trust, and helps individual users maintain control over their personal information and even take part in the processes which determine the value of their data.
Some of the key aspects of Biotron include:
- It offers customers with accurate and actionable insights into their personal data in relation to third-party businesses.
- The platform eliminates the need for middlemen who collect and process sensitive data, thereby allowing for reduced information proliferation and enhanced commercial research opportunities.
Also worth mentioning is the fact that Biotron is driven by blockchain technology and thus is able to greatly limit associated legal risks and streamline various internal processes. Owing to its use of a blockchain-based framework, the native ecosystem is delivered with a robust mechanism for transparency that makes instant microtransactions hassle-free.
Overview of the system
- Biotron employs a user-permissioned revenue sharing data analytics platform to perform all of its analysis.
- It makes use of smart contracts which ensure that all of the accrued revenue that is obtained via information sharing is distributed impartially among participating users.
- The core processing unit provides a highly accurate aggregation of analytical datasets that can help organizations make decisions which are in line with the principles of blockchain transparency.
- The platform is simple to operate and can be utilized by anyone.
Key Features
For starters, this platform places great emphasis on transparency, and users are privy to how their personal data is being processed at all times. Similarly, participating businesses can also trust the quality of the datasets being provided to them since the information is carefully filtered and sieved via various assurance modules.
Key offerings of the platform
Biotron integrates multiple diverse datasets from individuals and provides:
- A complete view of all their transactions
- The context and circumstances in which their information is being shared.
This helps build a more wholesome, encompassing view of each user, unconstrained by organizational data silos.
By eliminating the need for data buyers, resellers and brokers from the data collection and sales funnel, Biotron is able to reduce the price at which acquisitions take place. In fact, the primary contribution of this platform to the global economic engine is that it helps minimize the many layers of waste that are currently embedded in conventional business frameworks.
Biotron’s user interface
Lastly, when using this platform, data providers have the freedom to share their data via web and mobile applications as well as internet browser extensions. To access information pertaining to one’s account, a specialized web portal is provided.
How it Works
In order to source information from producers, the platform first initiates a process in which data is sanitized and then tagged with pertinent metadata. This helps the core system calculate each data producer’s contribution to the final analysis.
An overview of how Biotron handles customer data
The flow of data is then maintained in a highly streamlined manner.
- The information is first generated by a person or device.
- The data is then stored in a short-term storage unit (buffer).
- Following this, all contained information is aggregated, filtered, and mapped (transformed).
- A final analysis is then done to help sieve out any remaining raw data.
- Unfiltered information is stored in long-term storage for later use. All metadata related to a data producer is stored within a structured storage unit.
- After all of the above steps have been completed, the short-term storage unit is flushed (cleaned).
A simplified representation of how the system works
Similarly, to buy analytical datasets, customers will need to adhere to the following prescribed method:
- The customer is first asked to select pertinent analyses depending on certain metadata requirements.
- A smart contract is then initiated according to specific parameters such as the list of users, type of data, and price.
- The smart contract invokes transactions and grants access to store said analyses.
Participating organizations are provided with automated, manual, and qualitative research (surveys) analytics of four types of big data.
About the Team
Pavol Magic is the CEO of this service. According to his professional bio, his expertise lies within the domain of data analytics and late-stage product development. In the past, Pavol has been associated with a host of startups related to sectors such as IT, telecommunications, and FMCG.
Martin Smolka is the COO of this venture. He has been in the digital domain for over a decade and has helped a wide array of companies including Avast, AVG, and General Motors with backend software development.
Peter Dendis is the co-founder and CMO of Biotron. According to the official company whitepaper, Peter brings over 10 years of entrepreneurial spirit and online marketing expertise, including a successful stint at his own agency, Tarantula.
Lastly, Slavomir Kubacka is the CTO of this project. Slavomir brings a wealth of experience from the emerging tech dev sector and in the past has worked with Hyperledger Fabric at Accenture. He has also worked on software development and has provided backend support at CERN.
Token Performance Details
All transactions taking place within the native ecosystem are facilitated through a currency called BTRN.
BTRN token lifetime performance history (courtesy of CoinMarketCap)
As of May 13, Biotron possesses a total market cap of US$589,050 and has a circulating token supply of 19,386,531 BTRN. Additionally, a total of 1,000,000,000 BTRN have been created by the Biotron Foundation.
Introduced into the market on May 1, BTRN initially traded for $0.053 per token. Since then, the value of the currency has dropped, and the price of a single token currently stands at $0.0435 (as of May 14).
Final thoughts
With Biotron providing the market with a transparent personal data analytics platform that is based entirely on the blockchain, it would not be surprising to see this product gain more market traction in the coming few months.
If you would like to start investing in Biotron, BTRN trading pairs are currently available on Qryptos.
from The Merkle