GeoDB

About GeoDB

GeoDB is a UK-based company founded in 2018 by Luis Gelado that has developed a decentralized, peer-to-peer big data sharing ecosystem. The platform aims to democratize the big data and AI industries by creating a more equitable and transparent data economy where users are compensated for their contributions. It leverages blockchain technology to allow individuals to share their anonymous data, primarily location data, and receive rewards in the form of GEO tokens. These tokens can be traded for other cryptocurrencies or used to acquire goods and services.

The company's business model is centered on designing and developing independent blockchain products, both for third parties and for its own portfolio, which includes products like Wallace and ODIN (Open Data Oracle Network). ODIN is a key component, designed to build a decentralized, peer-to-peer data sharing and trading ecosystem that allows other data providers and buyers to connect to the network. The business generates revenue by making aggregated and validated data available for purchase by businesses through a data marketplace, providing them with high-quality, up-to-date information for decision-making and marketing. GeoDB has also launched its own Chainlink node on the mainnet, making its data, such as foot traffic information, accessible to smart contract developers.

In February 2022, GeoDB announced its evolution into Dataverse, expanding its focus from purely geolocation data to all forms of personal data to better reflect its mission of giving users control and the ability to earn rewards. The company has received over $4 million in funding from more than 2,000 investors, largely through crowdfunding platforms like Seedrs.