DataWallet ICO Review – DXT Investment Analysis

ICO Details

Symbol – DXT


When – Presale – January 22,

Mainsale – February 5

Soft Cap – Hidden

Hard Cap – 40 Million USD

Total Max Market Cap At ICO – 120 Million USD

Exchange Rate: 18 cents per DXT



As people engage more deeply and often with Internet services like social media,
search, and e-retail, they create ever more data. Well known social-media companies
and a secretive data-brokerage industry monetize this personal data without
explicitly consulting—or sharing the revenues with—the users who produced the
content. Such is the dominant personal-data ecosystem. There is clear need for a
transparent and fair data exchange based upon the expressive consent of the Internet users producing the data.

DataWallet is a decentralized software solution that looks to monetize user data in a novel way. In the current environment, user data such as demographics, age, operating system, etcetera are typically taken without a users consent (or done through other stealthy ways) and added to a large database of the information. This data is then sold to interested parties such as advertisers, companies, and other entities that are looking to use the data to influence their decisions for marketing a new product, service, or otherwise. It’s a pretty complicated mess, particularly for the user – while genuine, high quality, actionable data is oftentimes one of the most sought after commodities, it remains elusive to actually capture this kind of data. As most “data brokers” who gather this user data need to do so with particularly unscrupulous methods, it’s oftentimes incomplete or subpar quality data that ends up in the hands of the businesses that pay for it.

DataWallet is poised to solve this issue – by returning the power of user data back to the users, it looks to realign the incentives in the system, make the user the decision point of what data is given and to whom it is given to, and reduces a lot of the “junk data” problem that is currently plaguing the marketplace:

A staggering 90% of all data has been created in merely the past two years
and this market is predicted to grow 2̃7% per year. This explosion of data will be
further buttressed with the increasing adoption of Internet-of-Things (IoT) systems.

DataWallet essentially works like this – users download the DataWallet app (there is currently an alpha on the largest app stores) and build their user profile with all of the relevant data that is actionable. This includes things like demographics, interests, etc. When a user interacts with a site or service, they have the choice of whether to share with interested parties or not – users are also able to share only specific data as they so choose. This makes quality data much easier for companies that are looking for it to find, as there will no longer be any issues with junk data. Users will get advertisements, offers, etc. that actually make sense for them and target their needs or interests, and everyone in the system wins. It’s a neat idea and quite novel for the blockchain space – could this be one of blockchain’s killer apps?



Serafin Lion Engel

CEO (BSc Business Administration, Rotterdam School of Management. Petra Vorsteher Scholar at Draper University. RSA Fellow.)


Wiley Mathews

CMO (BSc Computer Science, Birmingham Southern University. Former Director of Mobile United States, OMD [biggest marketing firm in the world]. Former Managing Director, Blis.)


Tim Draper

Founder DFJ and investor in Skype, Tesla & SpaceX.


DataWallet is backed by some seriously heavyweight supporters in the field – one of which being Tim Draper, which you may have heard from Tezos fame. Marc Benioff is also listed in their page as being an investor, with Marc himself being the CEO of the tech giant Salesforce. It’s these kind of connections that make me more bullish on DataWallet – an app like Salesforce could have plenty of use of the DataWallet solution, and possible future partnerships or communications between the two parties could certainly lead to some great things.


DataWallet is also a very unique idea – in a sea of similarity, DataWallet stands out as one of the few projects that is really tackling a problem that not many other companies are looking at. Taking precious user data and returning it back to the people is certainly a compelling advertisement slogan – the uniqueness of it all only adds additional value to the DataWallet proposal.


One of the negatives about DataWallet is their token sale terms – while many recent crowdsales are choosing to scale down their raises, DataWallet was initially looking to raise around 30 Million USD. However, they’ve recently increased their ask again to a whopping 40 Million USD – while we’re certainly no stranger to large raises at Globalhalo (Icon asked for a lot and was a massive success), we’re negative on the DataWallet ask. They already have an alpha product released, which means they likely completed much of the preliminary work – what is the reason for a 40 Million USD raise? Doubts aplenty on this number.


Secondly, while in theory the idea sounds great, it will be much harder in practice for people to truly engage with the current app. Will people honestly spend more time while browsing/using the web to click on a bunch of confirmations or spend time deciding exactly what information they’re willing to share and with what party? It all seems like a solution that is looking for a problem – that is, the idea seems cumbersome, and will need a lot of streamlining and automatic functions added to it to make the concept work. I could imagine a user accepting to share their geographic data for example, and setting that to “always share”. That, however, means they’re no longer in charge of who gets to see their data – thereby removing the point of the entire project.


DataWallet is overall one of the more interesting projects that I have reviewed thus far – it has so many polarizing aspects that make me love it and hate it simultaneously, and any grade that I give this project will certainly be up for debate. That being said, I am overall bullish on DataWallet given their unique value proposal, solid backing and team, and working MVP. Of most recent projects I am more interested than any to see how exactly DataWallet stacks up in the markets and how much value investors will truly place on this kind of solution.

Investment Grade: 85%

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