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About Measurable Data Token (MDT)
Internet users produce a vast amount of data every waking minute – social media likes, browser searches, purchases – and big technology companies eat it up. And then they sell it to an array of corporate clients.
But while individuals provide this endless fountain of valuable consumer behavior data, they do not get anything in return.
Measurable Data says it is trying to change that with its decentralized data-exchange ecosystem, connecting users, data providers and data buyers. Once users opt in, their data is aggregated and anonymized. A valuable slice of good, valid "big data" is eventually exchanged with data buyers, and the value of each data point is sorted, divided up and shared with users.
Smart contracts on the blockchain automatically route rewards to individuals. Rewards are for use within the MDT ecosystem. "It's a brand new approach to impartial data sharing," says the MDT project's website. "Users control and see how their data gets used and get rewarded for it."
The project has developed a number of tools for collecting data, and sharing it with third parties while rewarding those users who furnish the data. Companies get valuable data for use in marketing strategies, but because details are scrubbed there is no targeting of individual users.
MDT, an ERC-20 token, facilitates the economy of the MDT ecosystem, as Capital.com explained.
The Ethereum-based token will enable transactions on the ecosystem to be stored as smart contracts in the Ethereum blockchain.
According to MDT, these smart contracts are constructed by data providers, data buyers and the MDT platform.
MDT said it believes that using cryptographically secure token contracts helps enforce performance of the contracts.
The system runs on micropayments, meant to accrue over time. To solve the potential issue of micropayment and delay in transaction confirmation times (for example, when the rewarded MDT is too small that it fails to cover the cost of Ethereum transaction), MDT will first introduces a reward deposit pool where it stores users’ micro-rewards until the quantity reaches an appropriate threshold to be sent to the user.
One of the main components of this ecosystem is MailTime Email Messenger, described in the MDT white paper as "a messenger solution based on the email protocol. MailTime Email Messenger connects users with a smooth communication experience."
It was earmarked as the first service to adopt the MDT ecosystem and utilize it as a payment system to reward all parties involved.
Another prominent part of the MDT ecosystem is RewardMe, a reward app similar to credit card purchase points systems but with a twist, in that a users' purchase data is anonymized, aggregated, exchanged as big data while the platform's smart contracts sort out the sharing of profits and allowing users to earn rewards for purchases made on other platforms.
Yet another key part of the MDT ecosystem is Measurable Finance (MeFi). It's a blockchain oracle tailored for decentralized finance (DeFi).
Finally, there is Measurable AI, a business-oriented alternative data provider that turns anonymous transactional data into consumer insights serving financial institutions and corporations.
When was MDT created and how much was it worth?
The roots of this project trace back to 2011 with the creation of Talkbox, a voice messenger app that eventually led to MailTime, an email simplification app launched in 2015. The MDT project's Singapore-based foundation, as well as its native token, were launched in 2017 and spent the next three years trading at close to one cent before gaining momentum in the fourth quarter of 2021, reaching a record high of $0.16 on Christmas Day of 2021.
Heartherm Huang, a co-founder of MailTime, is the director of MDT, according to his LinkedIn profile.
MDT's engineering team members are Gary Lau, Gem Ng, Allen Xu, Wing Chan, Ken Wong, Rept Lo, Maxi Cho and Matt Lung (Capital.com).
Two data scientists, Damien Passemier and Tiger Li, are also working on the project.
How is the price of MDT determined?
Supply/demand dynamics drive price action long-term. MDT has a maximum supply of 1 billion. The circulating supply is 676 million, according to CoinGecko.
Why does MDT have value?
MDT is on a mission to facilitate a new form of blockchain-based, data-driven economy. Were this platform to ever truly bring data providers and data buyers together at meaningful scale, and deliver on the promise of exchanging data securely and anonymously, there is inherent value to unlocked by holding the token.
Users earn ME tokens for cashback rewards at supported merchants, the team has explained;
Is MDT secure?
The project claims that its platform is a more efficient exchange model where all transactions are strictly enforced with cryptographically secure smart contracts, per Capital.com.
What are the main benefits of MDT?
- In a world in which large corporations thrive on internet data that largely isn't theirs, MDT is putting forth a means for shifting the balance of power so users have more control and opportunities to be compensated for data they provide. MDT sees to it that individual users get their fair cut. This is accomplished by way of an interconnected, data-collection-centric MDT ecosystem which runs on blockchain-abetted smart contracts. MDT's array of solutions, from the smart contracts to its rewards application, which taken together create "a reliable system where data sellers and buyers can exchange information in a safe and secure way," said Securities.io.
- Measurable Finance (MeFi) collects and disseminates external off-chain financial data feeds to public chains, furnishing the DeFi industry with reliable data.
- MDT's RewardMe cashback app allows consumers to automatically earn rewards on purchases.
- MDT value, per DigitalCoinPrice, was expected to rise to $0.20 in the coming years.
What do critics say about MDT?
MDT is most certainly not the first project aimed at tackling inequitable data collection, as Securities.io points out. In a crowded field, it's unclear how much traction the project might get although 200,000 users is a good start.
Still, in terms of overall awareness, MDT gets low grades.
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