The Pioneer’s Vault announces the first investment in MADANA
The first project to receive the grant (10,000 LSK, valued at €200,000 at that time, January 2018) is MADANA (Market for Data Analysis), a platform that enables individuals to participate in their data market while simultaneously preserving their privacy. In addition to pre-ICO investment, Max joined the project as an advisor, focusing mainly on business and marketing topics.
The PAX (Privacy-Analysis-Exchange) smart 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.
Our world is becoming more and more digitalized and data is one of the most valuable resources, with an estimated worth equals to €739 billion by 2020, but nowadays the created data is in most cases not under the control of its originator. Big corporations monetize this data and often they become target of a hacker, as they are centralized data storage.
MADANA proposes a new data market ecosystem run on multiple smart contracts based on blockchain technology that allows Data Producers, Data Analysis Buyer and Plug-In Provider to participate on the data market in a fair, anonymous and privacy protecting way.
The MADANA platform will consist out of 100 Million PAX tokens. PAX tokens will be available in a public token crowdsale (ICO) launched out of Germany in 2018. The PAX token will drive all smart contracts in the MADANA ecosystem. PAX tokens main function will be the payment settlement by a smart contract between Data Producers, Data Analysis Buyer and Plug-In Provider.
The Team consists of 3 founders, 5 members and 7 expert advisors.
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