MDT is an Ethereum token that powers the Measurable Data Token ecosystem for anonymously sharing and monetizing consumer data. MDT is used as a medium of exchange between users sharing their data and businesses accessing it.
What Is a Measurable Data Token?
Measurable Data Token is a decentralized data exchange economy built on the Ethereum blockchain. MDT is a standard ERC20 token and facilitates the economy of the MDT ecosystem. The token denominates the value of big data and serves as a mechanism for utility in the ecosystem.
Amidst the digital age, big data is the new oil. But many of the contributors are ignorant of this treasure. Many service providers and product vendors collect and store user data and use it for various reasons such as advertising, product enhancement, and business insights without disclosing its intrinsic economic value. Meanwhile, users trade their valuable data unconsciously in exchange for a less worthy free app or service. The reason behind such exploitation is not having a proper system or means to reward those data contributors. Hence, the era of such exploitation is coming to an end with the advent of a new ecosystem that is decentralized, impartial, and mutually beneficial. Indispensably, we require a new platform and unit of data exchange to change such an unfair and inefficient trading model. MDT was introduced to be one such ecosystem. Technically, MDT is a blockchain-based distributed computing network with smart contracts securely stored on the Ethereum blockchain. These smart contracts denominate the value of data in this new economy. The smart contracts were constructed by data providers, buyers, and the MDT platform.
MDT links users, data providers, and data buyers and determines the data's value when traded. MDT seeks to enable a more efficient, transparent, and honest platform for data trading. With a suite of products, the platform envisions a decentralized “data value exchange economy” for everyone in the digital world1;p3.
Learning about the token in detail, MDT is a utility token and is not considered to have any particular value outside the MDT ecosystem. Also, it neither confers any ownership right nor provides any rights with respect to the company's revenue, governance, or properties.
Further, a data provider provides invoked “data points” on the MDT platform. When a data buyer submits a request, the Measurable platform constructs a smart contract. The request gets activated as soon as the data buyer sends payment to the smart contract address. On acceptance of the deal, the Measurable platform, user, and data provider get MDT rewards1;p11.
Important services adopted by MDT are as follows. The ecosystem's first component is MailTime Email Messenger. This component is a messenger solution based on an email protocol. MailTime is the first service adopted by the MDT ecosystem and is a payment system to reward all parties involved. The next product is Measurable AI, which is a business-oriented data analysis platform that transforms transactional data into sophisticated consumer insights, serving financial institutions and companies coming from Wall Street to Silicon Valley. The third product is Measurable Finance (MeFi), which provides financial data made for the decentralized finance industry and empowers the decentralized finance (DeFi) ecosystem with reliable financial data on-chain. The fourth one is RewardMe, which is a reward app that rewards users for their purchases.
Who Founded Measurable Data Token?
MDT was issued by Measurable Foundation Ltd., registered in Singapore. The foundation was registered on October 2, 2017. The MDT team's first project was Talkbox, which is the first voice messenger app. And in 2015, they built MailTime. Also, the whitepaper was released in April 20201;p1.
Heatherm Huang is the director of MDT and cofounder of MailTime and Measurable AI. He also cofounded Jiong Daily. Huang also served as the manager of TalkBox Ltd.
To fund the MDT roadmap, the team conducted a token distribution that offered to sell 500 million MDT on the whole. The pre-sale, early bird, and token distribution event exchange rates are 7500 MDT, 6250 MDT, and 5000 MDT for one ETH, respectively.
How Can You Earn MDT?
Users can earn MDT as a reward for their data contribution to the platform based on its utilization. The ecosystem has several applications that create value (trade) to the data contributed by the users, which in turn rewards the users using the fee charged from the data buyer.
How Many MDTs Are There?
The total (maximum) supply is 1 billion MDT tokens.
Where & How to Buy MDT
With the surge of MDT in the market, several trading apps offer platforms to purchase MDT, but the most widely trusted and most efficient platform to purchase is Coinbase.
