Datawallet: A User-Controlled Privacy Data Exchange Platform

What is Datawallet

Friends, imagine that every day we surf the internet—whether scrolling through social media, searching for information, or shopping online—we leave behind a huge amount of “digital footprints,” which is our personal data. This data is like the bits and pieces of our lives, extremely valuable. However, most of the time, this data is quietly collected by big companies and used to make money, while we, the true owners of the data, rarely benefit from it and often don’t even know how our data is being used.

Datawallet (project abbreviation: DXT), as its name suggests, aims to create a “data wallet” for each of us. This wallet isn’t for storing money, but for storing our own personal data. Its core idea is to let everyone regain control over their data, deciding who can use it and how it’s used.

Simply put, Datawallet provides a blockchain-based platform where you can aggregate all kinds of data—like your social media and shopping records—into this “data wallet.” Then, if you wish, you can choose to anonymously share this data with companies that need it, and get paid for it. In this way, your data is no longer a free lunch, but an asset that can create value for you.

Project Vision and Value Proposition

Datawallet’s vision is very clear: it hopes to change the current opaque and unfair data ecosystem. As mentioned earlier, many companies profit from our data without our explicit consent, while we, the producers of the data, are left out.

The core problem Datawallet wants to solve is the lack of “data sovereignty.” It believes that everyone should have full control over their own data and the right to decide how it is used. Its value proposition includes:

• Returning data sovereignty to users: Making you the true owner of your data, rather than a passive “data provider.”
• Data monetization: When you choose to share your data, you can receive DXT tokens as a reward, turning your personal data into real value.
• Transparency and trust: Based on blockchain technology, Datawallet promises a transparent and fair data exchange environment, letting you clearly know who is accessing your data and for what purpose.
• Empowering developers: By providing an application programming interface (API), Datawallet also hopes to attract developers to use user-authorized data to create smarter, more personalized applications and services, such as AI assistants that understand you better or customized online experiences.

Unlike traditional data brokerage companies, Datawallet emphasizes “expressive consent.” This means your data sharing is active, voluntary, and informed, rather than being collected and used without your awareness.

Technical Features

The realization of Datawallet’s vision relies on its use of blockchain technology.

• Blockchain and smart contracts: Datawallet’s core is a smart contract system built on the blockchain. You can think of smart contracts as automatically executed digital agreements; once preset conditions are met, they execute automatically and are recorded on the blockchain, making them tamper-proof, highly transparent, and trustworthy. This ensures that the rules of data exchange are open, transparent, and automatically enforced.
• Encryption Everywhere (EE) and Smart Encrypted Data Contracts (SEDC): To protect your data privacy, Datawallet uses “Encryption Everywhere” technology, meaning your data is encrypted during transmission and storage. Meanwhile, “Smart Encrypted Data Contracts” further ensure that only specific parties authorized by you can access your encrypted data under certain conditions.
• Developer API and SDK: Datawallet provides a set of developer toolkits (SDK) and application programming interfaces (API). This is like giving developers a set of building blocks and instructions, allowing them to easily build new applications on the Datawallet platform that can securely and compliantly use user-authorized personal data.
• Based on Ethereum: Initially, Datawallet ran on the Ethereum platform, and the DXT token is an ERC-20 standard token. Ethereum is a very mature blockchain platform that supports smart contracts.
• Future outlook: The project team has considered migrating to other blockchain platforms such as Cosmos in the future to seek higher transaction throughput and lower transaction costs, which is very important for a platform that needs to handle large amounts of data interactions.
• Consensus mechanism: Datawallet’s DXT token is not generated through mining, meaning it does not use a “proof-of-work” consensus mechanism like Bitcoin.

Tokenomics

The core token in the Datawallet ecosystem is the Data Exchange Token (DXT).

• Basic Token Information

  Token symbol: DXT
  Issuing chain: Ethereum (ERC-20 standard token)
  Total supply: 1,000,000,000 DXT (1 billion)
  Circulating supply: According to different sources, circulating supply varies. CoinMarketCap shows 390,222,225.333 tokens, but also notes that the team self-reports circulating supply as 0 DXT, and CoinMarketCap has not verified this data. Another source, Delta by eToro, shows 370 million tokens. Such data inconsistencies are not uncommon in crypto projects and require investors to verify independently.

• Token Utility

  DXT tokens play a crucial role in the Datawallet ecosystem, serving as the “fuel” and “currency” for data exchange:

  • Medium of data exchange: DXT is the main medium for data transactions between data requesters (such as companies) and data providers (such as you).
  • User incentives: When you choose to share your data, you receive DXT tokens as a reward.
  • Data purchase: Companies wishing to obtain user data need to buy DXT tokens and use them to pay users willing to share their data.
  • Service purchase: In the future, users can also use DXT tokens to purchase various AI-based services offered in the Datawallet app store.

• Token Allocation and Unlocking

  According to information from the project’s initial coin offering (ICO), DXT token allocation is roughly as follows:

  • Crowdsale: 33.33%
  • Developer pool: 16.66%
  • User growth: 16.66%
  • Datawallet team/company: 33.33%

  The ICO token price was 1 DXT = $0.18. As for the specific unlocking schedule and mechanism, publicly available information is currently limited; such details are usually explained in the whitepaper or official announcements.

Team, Governance, and Funding

Regarding the Datawallet project team, there is little information in public sources. One source mentions that Greg Ellis once served as Datawallet’s Chief Strategy Officer (CSO), with extensive experience in data analytics. His industry background is crucial for project strategy development.

As for the project’s governance mechanism—how the community participates in decision-making, project development, and funding reserves (runway)—there is no detailed explanation in current public information. In blockchain projects, transparent governance and sufficient funding reserves are vital for long-term development, usually reflected through foundations, DAOs (decentralized autonomous organizations), and similar structures.

Roadmap

The Datawallet project roadmap shows its development history and future plans:

• October 2017: Released the project whitepaper, detailing its vision and technical concepts.
• Late October to early November 2017: Planned whitelist presale.
• Before ICO: Released the Alpha version of the mobile app. This shows the project had actual product progress before fundraising.
• February 2018: Released the first public roadmap, detailing technical development requirements.
• May 2019: Released Ethereum testnet V1.0, aiming to implement user-consent-based data permission management and support new personal data products.
• May 2019: Simultaneously released developer SDK and API, providing tools for developers to build applications.
• Future plans: The project has stated that to improve throughput and reduce transaction costs, it may consider developing on other blockchains such as Cosmos in the future, and even create cross-chain bridges between Ethereum and Cosmos.

Common Risk Reminders

Every blockchain project comes with risks, and Datawallet is no exception. Understanding potential risks is crucial when considering any crypto project. Here are some common risk reminders:

• Technical and Security Risks

  Smart contract vulnerabilities: Although smart contracts are tamper-proof, if the code itself has vulnerabilities, it may lead to asset loss or system attacks.

  Data privacy and security: Although the project aims to enhance data privacy, any platform involving large amounts of personal data faces risks of data leakage or misuse, requiring ongoing investment in security protection.

  Technical implementation challenges: Building a large-scale, efficient, and secure decentralized data exchange platform is technically challenging, especially in handling massive data and ensuring user experience.

• Economic Risks

  Market competition: There are other competing projects in the data sovereignty and data monetization field; Datawallet needs to stand out in a fierce market.

  Token liquidity: There is information indicating that DXT token liquidity is low and trading volume is small. Low liquidity may lead to sharp price fluctuations and difficulty in buying or selling.

  Market volatility: The crypto market itself is highly volatile; DXT token price may be affected by overall market sentiment, macroeconomic factors, and the project’s own development status.

  Uncertainty in circulating supply: CoinMarketCap has noted that DXT’s circulating supply data is self-reported as 0 and unverified, which may affect market assessment of token value.

• Compliance and Operational Risks

  Regulatory uncertainty: Global regulations on cryptocurrency and data privacy are still evolving, and future policy changes may have a major impact on project operations.

  User adoption: No matter how good the technology is, if it cannot attract enough users and companies to participate and form a virtuous cycle, the project ecosystem will struggle to grow.

  Partnerships: To successfully disrupt the traditional data brokerage industry, the project needs to establish extensive partnerships, but information in this area is currently limited.

Verification Checklist

Independent verification is essential for any blockchain project. Here are some aspects you can check yourself:

• Block explorer contract address: You can check the DXT token contract address on Ethereum block explorers (such as Etherscan):
  0x8db5...f81ef6
  . Through the contract address, you can view token holder distribution, transaction records, and more.
• GitHub activity: Check the project’s GitHub repository to understand code update frequency, developer community activity, and whether there are unresolved issues. An active GitHub repository usually means the project is still under active development.
• Official website: Visit Datawallet’s official website (datawallet.com) for the latest and most authoritative project information, announcements, and progress.
• Community activity: Follow the project’s performance on social media (such as Twitter, Medium, Telegram) to understand the heat of community discussions and the interaction between the project team and the community.
• Audit reports: Look for whether the project’s smart contracts have undergone third-party security audits; audit reports can assess the security of contract code.

Project Summary

Friends, in summary, Datawallet (DXT) is a project that aims to use blockchain technology to return control and profit rights of personal data to users, and build a transparent and fair data exchange market. It tries to solve the core pain point in today’s internet world where personal data is abused and users cannot benefit from it. Through its “data wallet” and DXT token, users can independently decide whether to share data and receive economic rewards, while empowering developers to build new intelligent applications.

Technically, the project utilizes Ethereum blockchain and smart contracts, and introduces concepts such as encrypted data contracts to ensure privacy and transparency. Although the project released its whitepaper, mobile app Alpha version, and developer tools early on, and planned its future development path, like all emerging blockchain projects, it faces many challenges such as technical implementation, market competition, regulatory uncertainty, and token liquidity.

Please remember, all the above information is for you to understand the project concept and potential value only, and is not investment advice. The cryptocurrency market is extremely risky; before making any investment decisions, be sure to conduct thorough independent research (Do Your Own Research, DYOR) and consult professional financial advisors.