Mark Cuban has joined dClimate, a decentralized climate data marketplace, as an investor and strategic advisor. The investment was made through Cuban’s venture capital group, Radical Investments.
About dClimate
dClimate is a transparent, decentralized marketplace where climate data, forecasts, and models are standardized, monetized, and distributed. The marketplace connects data publishers directly with data consumers, making climate data more accessible and reliable. When data providers share data and forecasts with the market it is automatically scored for reliability, which helps consumers to shop for information. In exchange, dClimate creates a simple, direct-to-consumer distribution mechanism to monetize their work.
Commenting on the prospects of dClimate, Mark Cuban, said:
“From insurance products that payout based on rainfall data to tools that allow ESG programs to measure carbon footprint, dClimate can be the go-to platform for every organization that uses or builds with climate data. I’m excited to be working with a team that is using blockchain and smart contracts to solve a pressing, real-world problem and that is building a platform to help organizations around the world build climate resilience.”
On importance of climate data, Sid Jha, a founding partner of dClimate, said:
“Climate and weather datasets are crucial to the planning and product infrastructure of so many businesses, governments, and other entities exposed to weather throughout the world, yet this space is highly fragmented and lacks standardization and transparency in many key areas. With damages from weather disasters increasing each year and 70 percent of businesses globally estimated to be impacted by weather, the need for a standardized, user-friendly marketplace that incentivizes greater openness and innovation in the climate data ecosystem has never been greater. We are privileged that an investor and entrepreneur of Mark’s caliber and stature understands the need for dClimate and is committed to help build and grow this network to benefit the many stakeholders who use and rely on this critical information about our planet.”
dClimate Value Chain
dClimate Decentralized Autonomous Organization (DAO)
The dClimate DAO is a distributed autonomous organization to guide the dClimate network’s activities. The DAO will vote on key issues such as bounties for the addition of weather stations or new partnerships that the network may enter into.
WTHR – dClimate Native Token
The DAO’s mission will be to manage a thriving network with inputs from the community of WTHR governance token holders.
dClimate Inc.
dClimate Inc., a legal entity set up in Delaware, will be a member of the DAO and also responsible for coordinating and implementing the DAO’s decisions subject to such decisions being feasible from a legal and operational standpoint. dClimate Inc. will have a board of directors representing experienced professionals spanning the weather and technology spaces.
dClimate and Arbol Inc.
dClimate was conceived of by the founding team of Arbol Inc., an InsurTech platform for parametric weather insurance/derivatives products. Arbol will also be an anchor client of the platform by providing initial, cleaned data for use and functioning as the first customer for the network as well.
dClimate Future Plans
dClimate aims to be the premier platform where businesses and entities can go to retrieve the climate data and forecasts they need to build new products and plan for future weather disasters and where publishers can go to house and monetize their work product. The network previously announced a $3.5 million seed financing round in April led by CoinFund, with participation from Multicoin Capital and Republic Labs to finance network development and user acquisition.
dClimate Launch
The dClimate data marketplace will launch this summer.