Updated: Jun 23
Blockchain, the underlying technology behind cryptocurrencies, is considered to be the next ‘internet’ of our lifetime. However, there are pockets of the crypto space where we are strong skeptics; especially the concept of zero utility ‘alt-coins’ like $DOGE dominating the news and Elon Musk’s twitter feed. You hear stories of cryptocurrencies named after cats, dogs or ‘types’ of rockets, which founders launch as a joke but somehow walk away with a multi-billion market cap. Where is the legitimacy?
For this week’s episode of our Disrupting Podcast (Spotify, Apple) we interview Peter Chen, Founder of Big Data Protocol (BDP), a crypto project that challenged (and partially shattered) our skepticism around ‘alt coins’ with their idea of creating a decentralized data economy and democratizing it for the masses…. actually.
Wait – did we finally arrive at a token with real value?
Big Data Protocol (BDP) is a decentralized marketplace for expensive datasets widely used by hedge funds and investment banks. For example: satellite imagery to estimate crop yields, consumer foot traffic via geolocation sensors to estimate in-store revenues, or the application of NLP to thousands of websites and social media channels for stock sentiment analysis. However, for the first time, they are tokenizing the datasets, making it liquid and tradeable (like any other asset), and more importantly, allowing anyone, big institution or small day-trader, the ability to access these datasets. No longer will it only be available to a select group of Wall Street funds, but anyone eager to use it for investment research.
Data is the new oil, and now more than ever, its compounded growth rate through sensor technology and the semantic web are making it challenging for anyone to scour the universe for the right data. As for Big Data Protocol, they not only curate these commercially viable datasets for you, but are also the first people to make data into its own asset class and tradable. Meaning, regardless of whether or not you consume these highly valuable datasets, you can participate in the ecosystem by trading / betting on datasets. The derived benefit? Price valuation for data products, which in the past, was largely unpredictable and/or determined by middlemen (ex. Data brokers).
We geeked out to the Big Data Protocol (BDP) mission and business model, and more importantly, are excited owners of the BDP token. Can’t wait to see this gem grow and have them both back on the podcast!
For more information on Big Data Protocol and their DeFi Project, please visit: Big Data Protocol
Instructions on how to buy the BDP coin:
Acquire some ETH from a centralized exchanges like Coinbase, Kraken or Gemini (how to acquire ETH)
Go to Uniswap and create your account
Swap token and select your ETH for BDP
Find BDP using the etherscan contract ID
Enter the desired amount
Approve in your wallet
Confirm the transaction
You now own BDP tokens!