Welcome to the Datawallet Community! We designed this guide to help you get started and get an understanding of Datawallet.

Our team is excited to welcome you to the community and to connect with you. Please let us how we can best support you and don’t hesitate to share your feedback via our official Telegram.

What is Datawallet?

A beginners guide to understand how everything works

Datawallet aspires to transform the data industry by creating the first Personal Data Management Platform empowering data ownership, control, mobility, and the world’s greatest C2B Data Exchange. Datawallet provides users with a self-sovereign wallet that puts them in charge of their data, and allows them to utilize and monetize an asset that is rightfully theirs. Datawallet also provides companies with insights that will boost their operations on a never before seen scale, all while creating goodwill and boosting a brand’s recognition for respect for privacy.

Datawallet was founded by Serafin Lion Engel and Daniel Hawthorne PhD in San Francisco in 2014 and, while newly developed technology has changed Datawallet’s platform, our mission has remained the same from the very beginning—give users control over their data.

Our Data Exchange relies on blockchain technology to provide private and secure transactions between the participating parties. However, if you just want control over your data and don’t care about blockchain, that’s fine with us. Datawallet has a user-friendly platform and no knowledge or interaction with blockchain technologies is required. But we do encourage learning about it because, well… because new tech is fun. So let’s jump in!

As you may know, there are several companies using blockchain technology nowadays. If you have never read about it, we recommend to start reading about blockchain’s first use, bitcoin.

Datawallet is designed to work on any blockchain that supports smart contracts but we are currently running on Ethereum. This is a decentralized computing platform that enables users to run applications (dapps) through smart contracts. By running on Ethereum we do not have to create a network of miners or create incentives for mining our token.

In this this guide, we’ll talk about:

How does Datawallet works?

Datawallet provides users with a self-sovereign wallet that puts them in charge of their data. But what is more interesting, Datawallet also provides an C2B Exchange where users can monetize their data. Now users own their data and this paradigme offers plenty of different opportunities for consumers. Some examples are:

Monetization ~ Your data is a valuable resource, through Datawallet exchange you can earn money every month.

Privacy ~ Datawallet developed a range of guides and tools to inform you of data breaches and help you opt out of services that have been gathering data without your consent, giving you greater privacy.

Mobility ~ Now you will be able to move your data from one app to another. Imagine moving your playlists between music services, or all your pictures and contacts from different social networks.

Single Profile ~ Avoid filling in repetitive information on forms or trying to remember different usernames and passwords. Use your Datawallet id to sign in and permission only the data you are willing to share.

Insights ~ Learn about yourself with Datawallet’s unique personal analyses. Find out your Big Five personality score, your social media usage, and more.

Games ~ Which of your friends said this, shared that post, or liked that band!? Connect with your friends and see if you know each other as well as you think you do.

To transfer value from the enterprises into each user, the Datawallet exchange uses the DXT token. The Data Exchange Token (DXT) powers not only the decentralized data exchange but also the Datawallet’s personal data management tools. Users can augment their Datawallet experience by purchasing different analyses and services on their data with DXT.

With the below links you can find out more about Datawallet, stay up to date with the latest announcements and connect with the team:

Datawallet token (DXT) supply

A fixed amount of 1 billion DXT tokens were created, with a total of 33% sold via Datawallet’s Token Sale in January 2018, raising approximately USD 40 million for the early development of Datawallet. The team will continue to support consumer education in the industry and empower developers to build advanced applications with the tools and resources provided by Datawallet.

The proceeds from the initial token sale will be allocated as follows:

The remaining 66% of the tokens are reserved for a User Growth Pool (incentivizing early user, etc.), Developer Pool (support for development on the Datawallet API, etc.) and Datawallet holdings (team & advisory incentivizes, community, etc.)

Team

Datawallet’s Founder & CEO, Serafin Lion Engel, is a graduate of the world’s top entrepreneurship platform - The Draper University. He also holds a Business Administration BSc from the Rotterdam School of Management and is a RSA Fellow (Royal Society for the encouragement of Arts, Manufactures and Commerce).

Our Co-Founder and CTO, Daniel Hawthorne, has a PhD in Cognitive Science from Stanford University. Daniel graduated in 2015 with experience in cognitive modeling, statistical analysis and experimental design after having already started research and on work on Datawallet together with Serafin.

The datawallet team is rounded out by top talent who have come from the world’s leading data, technology, and financial companies. The company is headquartered in New York, which is also where the business development team works. The Datawallet BD team is includes experienced professionals with backgrounds in leading investment banks and consulting firms with a top tier education from Harvard Business School and Yale University, among others.

Our development team is located in Berlin, being the backbone of our business. This team includes blockchain experts, full stack developers, data engineers and product designers. Each member brings a unique expertise to the table helping us fulfill our vision. If you think you are a good fit for our project, take a look at our open positions at Jobs at Datawallet.

Our seed investors are prominent venture capitalist Tim Draper and Salesforce founder and CEO, Marc Benioff. Earlier this year, Jeffrey Wernick join our board of advisors joining people such as Michael Perklin and Prof. Guenther Walther.

Development Progress

Development of the Datawallet platform picked up steam right after we closed out token sale. We’ve significantly grown our tech team and started by sharing our Phase 1 Roadmap with you. We released our Private Alpha API earlier than expected, while partnering with Fresh Digital Group as our inaugural partner working with the API. This was a very important step for us.

To put it in the words of our CEO Serafin Engel: “The release of the private alpha of our Datawallet API marks an important step in fulfilling the vision of Datawallet becoming the data layer of the internet. Powering applications with historic and real time cross-platform data, will not only allow people to train algorithms with existing data rather than having to create it anew for every single platform they interact with, but it will also provide users with a clear overview of who they are sharing data with, for what purpose, all governed by enforceable smart contracts. It moves Datawallet closer to becoming a personal data management platform that serves as a person’s hub for controlling and managing their data”.

After updating the Alpha App version of our platform and also releasing DX Research, we have been heads down working on the BETA version of our platform ever since, but more on that at the end of this post. We also released the team vesting contracts, vesting 90% of all team tokens for 1 year publicly.

Our tech team also started their own blog giving updates from time to time and publishing technical posts, such as this one on memory leaks and an in-depth look at our backend architecture.

DXT Ecosystem and Trading

DXT will be traded on a number of exchanges, allowing you to easily exchange it for other currencies like US Dollars, Bitcoin, and Ether. Communications from Datawallet are intended solely for informational purposes, and should not be construed as investment advice and are not meant to be a solicitation or recommendation to buy, sell, or hold any tokens mentioned.

This guide is not meant to be investment advice nor a solicitation for acquisition of DXT tokens. This does not mean that persons prohibited from buying in our token launch are now permitted to buy DXT. Please do not seek to evade our rules by trying to acquire DXT on an exchange or elsewhere.

Where to buy DXT

At the moment the initial coin sale is closed, but you can find DXT on the following exchanges:

What can I do with DXT

The Data Exchange Token (DXT) powers Datawallet’s personal data management tools and decentralized data exchange. It plays an integral part in the underlying architecture and users can augment their Datawallet by purchasing different analyses and services with DXT. User can further earn DXT by permissioning their data on the exchange. In-app, you’ll for example are able to buy data services, like our personality analyses, which gives you your Big Five personality score and other interesting insights.

Besides the data services, you’ll also be able to donate to charities, buy gift cards, or get paid out via PayPal or PrePaid debit cards. As the Data Exchange Token underlies all transactions, it is required for most interactions on the Datawallet Platform.

Where to store DXT

You can always keep your DXT in-app, but if you want to venture outside our platform, DXT can be stored in any wallet with ERC20 support. You can follow the guide to learn how to access your DXT using MyEtherWallet or MetaMask.

It is recommended to use a Cold Storage Wallet for anyone who likes to store a larger amount of tokens as this offers an additional layer of security. And be very protective of your private keys.

Read this post to learn how to configure your wallet

Miscellaneous

As the team is still growing we are hiring: Jobs at Datawallet

Datawallet has also many active partnerships, building out use cases together that fully utilize the data provided by Datawallet users to power the next generation of the internet. Partnership include DCC, DATA, Steemit and Indorse.

Datawallet has also been mentioned in the press multiple times, for example in Forbes, Wired, Business Insider, International Business Times and many more. Also our CEO has written multiple op-eds published in among others on Nasdaq.

Catch up with what happened the last few months at Datawallet with this blog post.

Feedback

Is this guide missing something? If so please let us know via our social channels or via e-mail: [email protected]