GeoDB promises to be a decentralized peer-to-peer big data sharing ecosystem, where users are rewarded for the data they generate.

This weekend saw the launch of the iOS version of its new GeoCash app, hot on the heels of the Android version which dropped last calendar week.

Big data is watching you...

Large data is thought of past many equally a somewhat ominous field. The practices surrounding its collation of information by shadowy intermediaries are ofttimes far from transparent, with the monetization and eventual apply of such data even less so.

So a platform that not only gives a user command and transparency over the data they generate and share, but as well rewards those interactions with cryptocurrency, would appear to be a stride towards democratising the market.

In render, data buyers gain access to affordable and trustworthy information through utilize of a peer-to-peer, blockchain-based organisation.

Despite global concerns about privacy, figures suggest that nether 10% of generated data is currently being exploited. GeoDB hopes to open the door for users to exploit the other 90% for their own financial gain. CEO and founder Luis Gelado explained to Cointelegraph:

"Data has become the new digital oil. A loftier value asset class on elevation of which huge digital companies have built extremely assisting business models. Simply for some reason, undoubtedly values were forgotten and left behind along the manner. Privacy, control, transparency, or straight reward for data creators. The user'south interests were abandoned."

App is currently in the testing stages

The GeoCash app allows a user to monitor their wallets containing the native token GeoDB (GEO). Wallets display a list of recent transactions, showing tokens sent, received, or awarded for generating information.

The app likewise allows users to continue track of the data blocks they have generated. All data is anonymized and includes no data related to a user's profile. Initially the service is focused on collecting location data, as this is fairly easy to extract and amongst the most valuable.

GeoDB is also creating a number of proprietary apps, which will collect and send information while monitoring hydration levels, logging running routes and finding electric machine charging points, for example.

However, there are also third-party apps which will connect to the service, putting access to the service into the hands of over 12 million existing users. These include tracking apps such as Wave, Wola, Sister and Trazer.

GeoCash app is currently running in a exam environment, so tokens within currently have no associated value. The visitor plans to launch the mainnet after the summer.

As Cointelegraph reported last month, GeoDB has also adult a data app to help combat the COVID-19 pandemic.