GeoDB, a UK-based fintech start that aims to provide a big data marketplace that includes an encrypted, safe, transparent, verified, accurate and decentralized datapool, has successfully secured its initial £750,000 equity crowdfunding target on Crowdcube.
As previously reported, GeoDB was co-founded in 2018 by Chairman Francisco Gordillo and CEO Sacha Gordillo. The platform is unique due to the fact that its encrypted, safe, transparent, verified, accurate and decentralized datapool nature. In essence, it is a big data marketplace which aims to solve the existing problems of the huge big data industry. It also allows users to upload their data to the protocol. In exchange, the protocol rewards them for that generated data. Meanwhile, at the other end, data buyers access the data pool and purchase those datasets.
“Additionally, as it is based on blockchain, developers can add resources to the protocol and are also rewarded for it. Thus, GeoDB is a circular, organic and perfectly assembled tokenized model, in which every player is being remunerated, reaping the benefits of data commercialization in the most effective and efficient possible way. On the data buying side, there are all sorts of data seekers: analysts, data scientists, data managing and reselling companies, marketers, large corps and enterprises, among many others.”
While sharing more details about the GeoDB platform, Gordillo stated:
“GeoDB is set to reshape the market, and democratise the transfer and sale of data. By opening up our doors to new investors, we hope to attract shareholders who are passionate about data and who want to help influence the market. With an emphasis on making shareholders feel truly valued and included, we hope that those who choose to invest will have a significant and meaningful impact on shaping the future of the business and making a real difference to the market.”
Funds from the Crowdcube round will be used to continue the growth and development of the GeoDB platform. The campaign is set to close at the end of April.
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