GeoDB Boasts Efforts in Democratizing Big Data with Blockchain-Based Data Sharing Ecosystem
MADRID, Dec. 11, 2019 — Considering all the talks around the Big Data industry and the growing issues around this market, most of the companies experience inconvenience while integrating various analytical tools. Even now, the majority of big data analytics companies spend more than 80% of their workflow on finding, evaluating, purchasing and formatting the data before the analysis starts. Besides that, big data trading & analysis is a fast growing $200 billion (USD) market, whereby by 2030, more than 95% of business decisions are expected to be data driven.
GeoDB is a decentralized peer-to-peer data sharing ecosystem that boasts over 12 million users from 150 countries. They are on the forefront of addressing some of the major issues in the big data industry. The company has successfully raised over $3 million (USD) from several closed private investment rounds as well as a crowd sale held on crowdcube, the leading crowdfunding platform in the UK.
GeoDB has established several strategic partnerships with third party applications whose users will share data while being rewarded via the GeoDB ecosystem. With over 12 million users the company is confident that they will become one of the largest company by amount of token holders already in 2020. This would make GeoDB one of the first crypto/blockchain projects to achieve mass user adoption, which has been a major challenge for most blockchain based projects.
Apart from merely boasting about having a large user base, GeoDB also launched their in-house GeoCash application about 5 months ago and during this time, over 1000 wallets were created and more than 15 million locations where uploaded to the platform. To achieve this without any marketing activity is nothing short of phenomenal. It’s a clear indication that the company is on the right path and that they have an active, passionate community.
This can be further validated by the fact that they have won several big startup competitions like the AI & Blockchain Summit in Barcelona in 2019 as well as a competition held by Alastria, the leading blockchain ecosystem in Spain.
According to the founders, the platform has already reached 70% development on test net and they expect to be fully complete by the end of 2019 with main net launch scheduled for the first half of 2020.