The CEO provides forecast from 2012 year. Potential use cases have strong non-blockchain competitors.
Blockchain product is not ready and there is no deadline for it. There is no incentives for developers to use Datawallet API.
There is no incentives for users to share their data on the platform.
There is no monetization plan. The last founding round was 100 times less, than current goal.
Most part of founders team joined in the last 3 months. Founders lives in 3 countries: USA, Germany and Italy. Some of team members does not mention connections with the project in LinkedIn
According to estimates presented by the TMR report, the global data brokers market will clock an impressive 11.5% CAGR for the forecast period between 2017 and 2026. In terms of data category, the demand for consumer data is estimated to contribute more than one-third revenue share of the overall market by the end of 2026.The incessant use of mobile devices have led to generation of vast amount of consumer data that can be used for business advantage. Project team propose few potential use cases for their future platform: Market Research, Customized Services, Deterministic Advertising, Personalized Car Insurance, Personalized Loan Underwriting and Psychographic Hiring. In fact, all these industries already have non-blockchain solutions with strong market leaders. Project’s CEO told, that “the last confirmed data, that we have” is 2012 year, it is extremely strange statement. Since 2012 market of data brokerage completely changed. Cloud data warehouses completely changed data market.
Datawallet would consist through few key points. Datawallet App provides users with a self-sovereign wallet that belongs to them and only them. It empowers them to unlock the financial and utility value of an asset that is rightfully theirs. The project is going to create Datawallet API, the first hub for developers building AI driven applications centered around personal data. The most crucial problem for such model is attracting developers on this platform. The project is going to use usual proof-of-work consensus method. There is no innovation, as a result, it seems, that platform would not be popular within AI developers.
The project is going to attract $30 mln, for VC it is somewhere between A and B round of financing. Usually in VC companies already has a working product and attract money for market expansion. The project was started in Nov 2014.In Jan 2015 project attracted $300K at the seed stage. Early investors are Tim Draper and Marc Benioff. This amount is lower than average on seed stage in VC. Moreover, 3 years since the last stage usually too much. Now, it wants to raise funding 100 times without significant development of its project. Datawallet does not have any monetization plan. In general, it has to earn mostly by commission from operations at the platform. However, there are no commission rates or any other fees is announced.