GeoDB
Crypto Overview
Overview
GeoDB is a decentralized peer-to-peer data sharing ecosystem that aims to create a marketplace where users can sell their data directly to interested parties. The GEO token serves as the native utility token of the GeoDB ecosystem, used for rewarding users who share their data and facilitating transactions within the platform.
Purpose and Utility
The primary purpose of GEO tokens is to serve as the medium of exchange within the GeoDB ecosystem. Users earn GEO tokens by sharing their data, while businesses can purchase these tokens to access the aggregated data. The project aims to create a fair and transparent data marketplace where users maintain control over their personal information.
Business Model Analysis
The business model appears to be halal-compliant as it involves the legitimate exchange of value (data for tokens) without any elements of riba or gambling. The platform does not facilitate any prohibited activities and operates with transparency in its data marketplace operations.
Development and Adoption
The project shows ongoing development activity, with regular updates to their technology stack. While adoption remains limited, the project has established partnerships with various data companies and continues to expand its ecosystem.
Token Distribution
The token distribution appears reasonable, with appropriate vesting periods for team members and early investors. There are no immediate red flags regarding token allocation that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in GeoDB from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to GeoDB.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.