Datum Update

Published in

Datum

4 min readOct 26, 2017

When we started Datum our vision was to give individuals a better way to safeguard their personal data and to build a marketplace for the new data economy. The traction, feedback and support from the community that we have received so far is tremendous and to be frank we did not expect Datum to take off like this. Before the start of our Token Sale on October 29th I would like to take this opportunity to give everyone an update on the progress of Datum and what has happened so far.

Growth of Datum

In the last few weeks we have seen growth of our community accelerate drastically. #TakeBackYourData is a topic that resonates broadly and brings a lot of interest to Datum, just see the numbers.

420,000 weekly website visitors
58,000 users signed up for the app
30,000+ Facebook followers
19,000+ Twitter followers
10,000+ contributors registered for the Token Sale Whitelist (register here)
6,600+ in our Telegram Chat
3 Partner Company wins for the Datum Enabled ecosystem

Development Update

Our development team is still hard at work, but we are happy to share technical previews of both the Datum App and the Datum Dashboard. These are not meant for end users but to give you a glimpse and idea what we have been working on and where Datum is going.

We are also excited to announce two Datum enabled hardware devices which will be the first devices that let you send data directly to the Datum network. Further details are coming up in a separate announcements.

Marketing

We anticipated a much higher marketing cost to get the word about Datum out but given the strength of our current campaign we are able to drastically lower the Marketing expense forecast. Also keep an eye out on some of our campaigns that will go live in the next days as well.

Token Sale and Hard Cap

With the progress in development and marketing over the last few weeks we now have a refined roadmap to reach the targets we set out. This allowed us to go over our budget calculations for the next 3 years and reduce the runway required to achieve all goals. We are confident we can achieve Datum’s vision under this new funding target and are therefore adjusting the Datum Token Sale hard cap accordingly. After discussion with our community we think the best approach is to change the ETH to DAT rate. Any contributors that already participated in the Datum Presale will receive increased amounts of DAT accordingly.

The adjusted rate and hard cap will be as follows:

Total DAT Supply: 3,000,000,000

DAT sold in Token Sale: 1,530,000,000

Rate: 1 ETH = 25,000 DAT

Hard Cap = 61,200 ETH

We will update our website and whitepaper today to reflect the new hard cap and DAT rate.

Token Sale Whitelist and KYC

After careful considerations we have decided to require KYC (Know your Customer) verification for all contributors in the Datum Token Sale. We are not in big favor of doing KYC but current regulators and banks require it, because we do no want to jeopardize the development of Datum we choose to require KYC verification.

After reviewing all KYC providers on the market (we also reviewed Civic and other blockchain based solutions, however they are not ready for prime time yet) we did not find any that would live up to the high privacy standards we set ourselves at Datum. Datum itself would provide safe storage for your identity documents though, and so we decided to do exactly this in our Token Sale. Datum will be doing KYC checks and verification's ourselves and we will be the only one storing your data, once the Datum Network is up and running you will be able to transfer (if you choose to) this data or destroy it, we think it should be your call.

All Token Sale participants must be on the Whitelist, your ETH address must be registered and KYC checks must have been passed in order for you to be able to buy DAT Tokens in the Token Sale.

To start the process, register for the Token Sale Whitelist here

Note: KYC verifications are not enabled yet, we will enable KYC verification before the start of the Token Sale and inform everyone that registered to the Whitelist when it is available.