What Is Measurable Data Token?

Measurable Data Token is a decentralized application (dApp) built on the Ethereum blockchain. It was launched in 2017 by Heatherm Huang in Singapore. Measurable Data Token is a decentralized data exchange platform optimizing how user data is bought and sold on the internet. How does Measurable Data Token work to change how user data is bought and sold? MDT aims to give ownership and control of the data back to the users. As a result, users can sell their data anonymously and potentially make some profits. 

As stated in the project's whitepaper, Measurable Data Token is trying to answer the question: "What if users could control their data and be rewarded accurately for the value it creates?"

User data is one of the most highly sought after resources in the world of technology today. This is because companies can optimize their products and services by gathering enough data about their consumers. However, most users don't get a say in how their data is used and they don't receive any rewards from the sale of their data either. Due to this, many users are opting out of sharing their data.  Measurable Data Token aims to solve this problem by paying users to provide their data as well as enabling them to provide it anonymously so that they are not compromised in the process. 

The Measurable Data Token exchange and project is overseen by Measurable Foundation Ltd, a Public Limited company based in Singapore and headed by the project's founder Heatherm Huang. Measurable Foundation Ltd was acquired by blockchain infrastructure company Chain in 2022 and the Measurable Data Token exchange was acquired along with it as well. 

MDT is the native token of the platform and is used to pay users for contributing anonymous data points. 

What Is Measurable Data Token: Quick Facts

• Measurable Data Token is a decentralized exchange focused on facilitating the sale of consumer data.

• Measurable Data Token pays users to sell their data to data buyers unlike other companies that deal in consumer data. 

• Measurable Data Token uses the MDT token as a currency for purchasing consumer data. 

• Consumer data is collected anonymously on Measurable Data Token so that individual identities cannot be compromised.

How Measurable Data Token Works 

__How does Measurable Data Token work exactly?__ 

Measurable Data Token changes the traditional model of data trading by using blockchain technology. Typically there are three parties to a data trading deal: the user whose data is being sold, the data provider which is the organization that has access to the user's data, and the data buyer who wants to purchase the user's data from the data provider.

In the traditional data trading model, the exchange of data happens between the data provider and the data buyer. The user has no idea who their data is being sold to or what it is to be used for, and they also do not benefit from the trade in any way. Measurable Data Token changes this by using blockchain technology to give control of data back to the users. Using Measurable Data Token, users can choose which type of data they want to sell, to whom they sell it and at what price.

Measurable Data Token makes use of smart contracts on Ethereum to connect people who want to sell their data anonymously to those who want to purchase consumer data. Smart contracts are self-executing pieces of code on Ethereum. Essentially, a smart contract is designed to protect both sides of a blockchain transaction by automatically executing itself when some previously agreed upon parameters are met. The parameters themselves are coded into the smart contract. 

So say A wants to buy 2 apples from B at 10 Ether (ETH) for example. Instead of risking sending the 2 apples to B and not receiving any ETH in return, a smart contract can be created. Whenever A puts 2 apples into the smart contract and B puts 10 ETH into the smart contract, it executes automatically and switches ownership of both assets to the other person. This way everyone involved in the transaction is protected.

Measurable Data Token makes use of this concept of smart contracts to enable data trading to occur securely and safely. Users on the Measurable Data Token exchange are people who decide to share their data with data providers. The user's data is shared anonymously to protect the user from exploitation by bad actors. Data providers then carry out transactions with data buyers to sell the user's data to them.

To carry out a transaction, a data provider creates a smart contract to sell some data at a certain amount Y. The data buyer can then send Y tokens to the smart contract to get a preview of the data. The smart contract has a time parameter and the buyer needs to decide on whether he will buy the data or not before the time expires. The smart contract is executed if the buyer agrees to purchase the data. A portion of the fee is sent to the user and the rest goes to the data provider.

Using smart contracts to execute this transaction protects everyone involved including the buyer. In the old data trading model, the buyer had no way of previewing the data they were being sold. Buyers were at the mercy of data providers who could sell them invalid or useless data. However, under this model, buyers can preview the data to certify it before purchasing it. In cases where the data buyer decides that the data is invalid, there is an automatic arbitration process built into the Measurable Data Token exchange to resolve such disputes.

Where MDT Is Used? 

What is MDT and why is it important to the Measurable Data Token exchange? MDT is the native token of the Measurable Data Token platform. It is used to do everything from powering smart contracts to assigning economic value to the data provided by the users. Some of its main uses include: 

Means of Exchange 

The most important thing about MDT token is that it is essentially the currency of the Measurable Data Token exchange. The token is used to buy and sell data on the exchange. When a smart contract is created, in order to preview the data and then buy it if they want to, buyers need to own MDT tokens. The rewards for making data available are also paid out to users through MDT tokens. 

Assigning Value to Data 

All data is not equal on the Measurable Data Token exchange. Different types of data are more valuable than others to buyers and this is indicated on the exchange by assigning value to the data provided. The value is assigned using MDT tokens so that different data types are valued at different prices as denominated in MDT. 

Measurable Data Token Founders & History 

Measurable Data Token was founded by serial entrepreneur Heatherm Huang in Singapore. Before founding Measurable Data Token Heatherm Huang had founded several technology companies to varying degrees of success. Beginning with the push to talk messaging app TalkBox which he founded in 2011, he also went on to launch MailTime, an email service provider that made email messaging as simple as sending text messages. 

Heatherm realized MailTime was processing a lot of consumer data every day. Especially when most MailTime users were receiving email receipts when they made transactions online. Those receipts could be analyzed to gather information about the behavior of different internet shoppers. Heatherm realized that the users gained nothing from this process and led to the launch of the Measurable Data Token. 

Measurable Data Token was launched in 2017 to change how data was bought and sold as well as give users a say in how their data is used. Measurable Data Token has partnered with several other technology companies through initiatives like its RewardMe app to bring the advantages of the exchange to their users. 

In 2022, Measurable Data Token was acquired by Chain, a blockchain infrastructure service provider. Following the acquisition, Heatherm Huang joined Chain as a Product Manager, and the Measurable Data Token exchange became a part of the larger Chain ecosystem. 

MDT Tokenomics

The MDT token is the native token of the Measurable Data Token platform. It is used to reward users who sell data on the MDT exchange. MDT is built on Ethereum according to Ethereum's ERC-20 token standard. MDT has a current circulating supply of 676,157,013 MDT tokens according to CoinMarketCap. It also has a maximum supply of 1 billion MDT tokens; therefore, when the number of MDT tokens in circulation reaches one billion, no new MDT tokens will ever be created. 

On the launch of the Measurable Data Token exchange, the Measurable Foundation conducted an Initial Coin Offering (ICO) of the MDT token. The ICO was held to raise money for the project and make MDT tokens available to the public. Investors who wanted to get in early on the project were also involved in the ICO. Over $6 million was raised in the four days the ICO ran and the Measurable Data Token exchange allowed people to buy MDT tokens using Ethereum's ETH token.

Following the ICO where then questions about MDT allocation. Since some MDT tokens are held by the leadership team and some by the exchange itself for its future development it is important to understand the allocation to understand the tokenomics of MDT Measurable Data Token was distributed in the following manner: 

• Token sales – 50%
• Equity investors – 10%
• Team tokens – 10%
• Project advisors’ tokens – 15%
• User growth pool – 15%

The MDT price action depends on the overall demand for the MDT token in the ecosystem. Data providers and users who sell their data on the exchange are paid in MDT tokens, and data buyers who want to buy data on the exchange also need MDT tokens to carry out transactions on the exchange. The Measurable Data Token price reflects how the market values the token at any given time.

How is MDT Created/Mined?

There is no mining process for the MDT token. All one billion MDT tokens are created and distributed by the Measurable Data Token exchange. So far just over 676 million MDT tokens have been released and are in circulation with the rest set to be distributed at intervals according to a set schedule as outlined in the exchange's whitepaper. As there is no mining process for MDT there is no impact on MDT price by the regular increase in the circulating supply of tokens that usually accompany tokens that have a mining process.

Measurable Data Token Competitors 

Although it is a decentralized exchange on Ethereum, Measurable Data Token has a unique business model and value proposal that is not shared by any other project on the Ethereum blockchain. This puts Measurable Data Token directly in competition with other centralized organizations that collect and sell consumer data like Experian, Equifax, and Nielsen. 

Measurable Data Token is still new to the consumer data collection niche and has room to grow. However, as of now it is not yet a very significant player in the field overall. The acquisition of Measurable Data Token by Chain valued the exchange at $100 million while Equifax one of the market leaders in the consumer data industry had revenues of $3.1 billion in 2020 alone. Even though it is not yet as big as its competition, Measurable Data Token has significant room to grow due to the unique nature of its data collection and selling mechanism.

Measurable Data Token Partners & Investors 

In its early days, Measurable Data Token raised a significant amount of money from investors to fund the development of the exchange. Measurable Data Token raised over $1 million from venture capital investment firms Node Capital and Godel investors to develop the exchange platform. In 2022, the Measurable Data Token along with all its assets was acquired by the blockchain technology company Chain in a deal worth $100 million.

Measurable Data Token has also entered into partnerships with several organizations to broaden the reach of Measurable Data Token's services and to advance the goal of empowering users to share their data for profit. The Measurable Data Token ecosystem officially kicked off with the addition of MailTime as a data provider on the exchange. That enabled MailTime users to decide whether to share their data and earn MDT tokens. Measurable Data Token has also partnered with organizations like Bloomberg to make data from Measurable Data Token's AI available on Bloomberg's enterprise service.

Measurable Data Token SWOT Analysis 

Measurable Data Token Strengths 

Enabling users to profit from their data is Measurable Data Token's biggest strength. Data is big business right now as evidenced by Facebook's unhappiness with Apple over their ad transparency feature allowing users to block apps from tracking them. Collecting user data is how Facebook is able to serve targeted ads and make money from advertising but people are wary of having their data collected. Measurable Data Token turns that scenario around and gets people to offer up their own data for sale. As data privacy concerns continue to gain ground, Measurable Data Token's business model should see more adoption. 

Measurable Data Token Weaknesses 

Right now users cannot directly sell their own data on the Measurable Data Token exchange. To sell your data on the exchange you have to be using an app like MailTime which is a data provider on the exchange. You can then choose to sell your MailTime data on Measurable Data Token. This places a limit on the number of people who have access to the Measurable Data Token exchange.

Measurable Data Token Opportunities 

Many tech companies that depend on collecting consumer data to offer their services are beginning to feel the effects of the push towards greater privacy on the internet. As more people opt out of being tracked for their data due to privacy purposes it creates an opportunity for Measurable Data Token. Due to Measurable Data Token's anonymous data sharing feature it has an opportunity to become the go-to place both for users looking to anonymously sell their data for profit and for organizations that need to buy such data to drive their business.

Measurable Data Token Threats 

One potential threat to Measurable Data Token is that bigger consumer data companies might replicate its model. This could lead to greater competitive pressure on the platform as they would then have less of an advantage over competitors.

Measurable Data Token Roadmap

Although the Measurable Data Token exchange has come a long way since its launch, it is still focused on developing additional features. Going forward the exchange is focused on integrating fully into the Chain ecosystem after its acquisition. MDT token holders will become Chain (XCN) token holders and gain access to the broader Chain ecosystem. Measurable Data Token is also focused on improving the security of the exchange with several technical upgrades and audits scheduled for the near future.

Measurable Data Token Updates, News, & Highlights 

Chain Acquisition 

Chain, a decentralized infrastructure provider for services built on the blockchain has announced that it has completed the acquisition of Measurable Data Token and all the dApps in the Measurable Data Token ecosystem for $100 million. Following the acquisition, Measurable Data Token will continue to operate as before with only one significant change to the platform. MDT token holders will have their MDT tokens converted to Chain's XCN token and that will enable access to the broader Chain ecosystem.

Gaming Rewards

Measurable Data Token has partnered with gaming platform Steam to offer users who purchase games cashback rewards. The cashback rewards apply for any type of purchase on Steam from games to skins for game characters. However, the rewards are only available for purchases made through Measurable Data Token's RewardMe app, so gamers have to register on the RewardMe app and use it for purchases to be eligible for the cashback rewards.

Measurable Data Token, RewardMe & Consumer Data Harvesting

The RewardMe app is an interesting use case of the Measurable Data Token exchange's consumer data transaction capabilities. On the surface, the RewardMe app is an app used by shoppers to shop on multiple platforms online from the same app. Shoppers who use the RewardMe app to shop are also eligible to receive rewards from RewardMe whenever they make a purchase using the app. What is MTD used for on RewardMe? The rewards are paid out in MTD tokens and gift cards to shopping platforms.

While on the surface it might look like a regular shopping platform, RewardMe is far from just another app to make shopping easier. Due to it being powered by Measurable Data Token, RewardMe enables its users to choose to sell their data anonymously on the Measurable Data Token exchange and gain even more rewards. 

By integrating with Measurable Data Token, RewardMe gives data buyers data right from the source since RewardMe is a shopping platform. This arrangement is a positive for everyone involved. For RewardMe and its users, it provides an extra source of income for selling data on the exchange. And data buyers are able to purchase consumer shopping data from a shopping app directly, enabling them to target their ads better.

Where To Buy MDT

You can purchase MDT tokens on popular exchanges like OKX. OKX allows you to purchase MDT tokens using a variety of payment methods, including debit and credit cards, and bank transfers, using your choice of fiat currency. You may even purchase MDT with other cryptocurrencies on OKX. Note that available payment options might vary by user location. 

How To Store MDT

There are three ways to store your MDT tokens; you can store them on an exchange like OKX, in a software wallet like Metamask, or in a hardware wallet like Ledger. 

FAQs 

• What Is MDT?

The MDT token is the native token of the Measurable Data Token decentralized exchange. It is used to facilitate transactions involving the buying and selling of data between users, data providers, and data buyers on the exchange.

• Why Is Measurable Data Token Unique?

Measurable Data Token is a unique project because it attempts to reward users for selling their data to data buyers. 

• Can MDT Be Mined?

No, it cannot be mined. All MDT tokens are created and distributed by the Measurable Data Token exchange and the team behind it.

• Can I Buy MDT With My Local Currency? 

Yes, you can. You can buy MDTtokens directly with a credit or debit card in your local currency on centralized exchanges that support them, like OKX.

• Can I Swap Other Tokens for CONV?

Yes, you can. Suppose you want to swap or trade other tokens for MDT instead of buying it with fiat. In that case, you can do that on any centralized or decentralized exchange that supports swapping or trading another cryptocurrency for MDT, such as OKX.