Community Update #5

Dear Datawallet Community,

with the post token sale administrative work being almost finalized, we are resuming operations on all fronts, and that includes publishing regular Community Updates. The next months and years are going to be an exciting time for the team, our users, and supporters.

Let’s get started by catching up on some recent news and developments.

Datawallet closes $40MM token sale

In case you missed it:

With strong support we proudly closed our token sale after reaching its hard cap of 333,333,333 DXT and achieving its goal of $40 million USD. The pre-sale, which started on January 22, 2018, was available to Datawallet’s earliest supporters on a first-come-first-served basis, with the final batch of $8 million selling out in 55 seconds, and the crowdsale selling out on February 6.

Read the Announcement

Token Sale Quick Facts — Over a 28 day period starting January 10th 2018 to February 7th 2019 we had:

More than 460,000 visits to our website from more than 380,000 unique visitors.

Most visitors came from the US (13.3%), followed by Germany (7.02%), Vietnam (6.4%) and South Korea (5.87%).

People from more than 140 countries where whitelisted to participate in the token sale (excluding e.g. the US among others, which were not allowed to participate due to regulatory uncertainty).

7% of applicants were female vs. 93% of males. Probably should do a bit better here!

The average participant was 34 years old.

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Datawallet partners with Kochava

We are extremely proud to partner with pioneering adtech platform Kochava and their OnXCHNG program to allow users to directly power advertising networks with their data.

With this partnership we are making big strides towards one of the most promising applications to run on top of the Datawallet infrastructure, namely a permission based advertising ecosystem. Permission based advertising empowers companies to leverage the highest quality data and puts users in control and at the center of value creation.

Charles Manning, CEO of Kochava, said, “Advertising should not be an aggravating interruption. It should deliver quality information so that people can learn about products they care about, when and where they are relevant. Through Kochava’s partnership with Datawallet, we are taking a big stride toward making deterministic and permission-based advertising a reality…”

Read the entire announcement right here:

Read the Announcement

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Datawallet partners with Indorse

Datawallet is proud to announce its partnership with the decentralized network for professionals Indorse. The integration of Indorse into the Datawallet app will provide the opportunity to further reward users, and give them another monetization stream for the data created on each respective platform.

Gaurang Torvekar, Indorse CTO said,“The quality of the data created on Indorse is unrivaled, making it a perfect fit for us to partner with Datawallet. Our first-rate data comes as a result of our process of information-validation through peers. Indorse uses internal rewards and a reputation system to incentivize members to add their skills and accomplishments, and indorse those of others. We love the idea of being able to give our users a further method of earning, through the provision of their data with Datawallet.”

Read the Announcement

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Update on the Datawallet app

Since the token sale our team has been busy building out our permission-based data marketplace and the data-delivery infrastructure. Here is an update about what has happened so far and what we are currently working on:

Done: Insights Alpha Product released

We have released a series of self-learning products that give you insights into your social media engagement. From the exchanges screen of your app you can now order an analysis of your big-5 personality traits, social-media engagement, or writing patterns, in return for a nominal amount of DXT. These interactive analyses are delivered right to your email inbox. We’ve already shipped to our first purchasers, providing all three analyses at a discount in appreciation of their early adoption.

In Progress: Extracting in-app DXT

We are developing the ability to withdraw your DXT hosted in your app wallet to your external wallet. This capability will not be available in all countries as our legal council is still seeking clarity on uncertain guidelines (e.g., US/Canada). The timeline for the release of this feature will be included in our upcoming Phase I Product Timeline post. We are also working on alternatives such as allowing you to withdraw fiat currency.

In Progress: Cryptocurrency inside the iOS ecosystem

Apple has released some guidelines that restricts the cryptocurrency use within apps. Apple currently only permits a few hand-selected cryptocurrencies to be used in iOS apps (one of the reasons for example the Binance app started to only be available via a direct download). We are in talks with Apple to find a solution for ensuring our users can use DXT in our iOS app. While the talks are ongoing, our software updates for the iOS version are pending. Unfortunately, this means that there are some UI and linking functionality bugs that we are unable to correct at this time.

In order to prevent this from becoming a bottleneck, we are developing an alternative solution in the form of a browser-based mobile app for our iOS users. If necessary, this version will be out in the next 7–9 weeks. More detailed information will be released in the upcoming Phase I Product Timeline post. Rest assured all token earned through the existing iOS app to the point of the token sale will be honored and are linked to the respective accounts.

Upcoming: The referral status inside the app

We will be ending the current referral system (scheduled 2018–02–19 Mon) as we are overhauling our permission-based data marketplace and app infrastructure. In the current referral system, users were awarded DXT for setting up their profile within Datawallet and inviting friends, which served as a way for us to test for user behavior and bugs within the app, and allow users who were not able to participate in our tokensale to nonetheless own DXT.

With our tokensale having been completed, we are now switching our methodology back to a enterprise-driven payout system. This means that all payouts within the app will come from the different data exchanges. Currently the primary revenue driver will be our enterprise application, DX Insights. DX Insights will stipulate participation requirements within the Datawallet app. Those requirements are set forth by companies utilizing DX Insights. This means that during one week, companies may be looking to analyze anonymized spending habits of people in New York City, while another week (the same or different) companies may be interested in social media topics from Indonesia. Who can participate in DX Insights and who will get rewarded in DXT will be based on those different requirements. We are working on integrating a new referral system via the DX Insights platform. Needless to say, all referrals and DXT earned so far will awarded.

We will have a separate post in the coming weeks detailing how precisely DX Insights works and how payouts are structured based on company requirements, as outlined above.

Upcoming: Bad actors within the Datawallet app

There were a minority of users who tried to game the Referral System by inviting fake users. Verified Identity and Good Actors are crucial to our ecosystem and those who have acted in bad faith with the referral system will not be rewarded. A referral will only be awarded if a real person links their data. Going forward, we will ban bad actors swiftly and without prior warning.

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Investopedia Article

We really recommend you read THIS article on the topic of owning and protecting your personal data via the blockchain. Our CEO Serafin Lion Engel is featured with remarks on how we see this space developing long-term.

Upcoming & Miscellaneous

Our more detailed road map is already in the works and will be released next week — we’re really excited for what’s to come.

is already in the works and will be released next week — we’re really excited for what’s to come. We will be deleting all KYC data of people that did not participate in the token sale. Due to KYC/AML legislative requirements the data of participants is kept on file in a secure offline environment.

in the token sale. Due to KYC/AML legislative requirements the data of participants is kept on file in a secure offline environment. We are further updating our website post token sale . The new version will be pushed out soon.

. The new version will be pushed out soon. Our Biz Dev team is accumulating an impressive deal pipeline for the Datawallet platform. Updates about partnerships will be announced as they happen.

We will release information on exchange listings as they happen. We cannot release any information on this prior.

Join the Datawallet Telegram Group

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To stay up to date with all news and engage in (meaningful) discussions, please join our official Telegram group via the link below:

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We are just getting started…

…on our mission to create the world’s most powerful blockchain powered data exchange that puts people in charge of their data and empowers developers to bring to life the next generation of world-class applications. We’re also just getting properly started again with our marketing, platform, and business development teams. We have an amazing pipeline of partnerships and business development news to share with you very soon.

We are excited for the weeks, months and years ahead of us and are very thankful for all your support!

Upwards and onwards,

Your Datawallet Team