The Genesis of GeoDB
GeoDB is a decentralized peer-to-peer big data sharing ecosystem that was created to provide users with a secure and transparent way to share their location data while also earning rewards for doing so. The project was founded by Luis Gelado and Manuel de la Esperanza, two experienced entrepreneurs who recognized the need for a more ethical and fair way to share personal data.
The idea for GeoDB came about in 2018 when the team was working on a different project that required location data. They quickly realized that the current centralized model of data sharing was flawed and left users vulnerable to data breaches, privacy violations, and other risks. They also saw that the companies collecting this data were not compensating users for their contributions and were finding difficulties finding curated and quality verified sources of data.
GeoDB understood the potential size of the data and AI market and decided to start a journey to solve the current industry issues using distributed and decentralized tools that could connect the dots in a secure, efficient, and fair way.
To address these issues, GeoDB decided to create a decentralized data-sharing ecosystem that would allow users to retain control of their data and earn rewards for sharing it. This ecosystem is based on decentralized technologies, and is evolving into a decentralized governance model of data and shared value, to build trusted communities and data sources that can correctly serve both users and the data / ai industry.
The Wallace Wallet
GeoDB has recently launched Wallace Wallet, a decentralized crypto Wallet that rewards users for their data, while offering a wide range of crypto features. The wallet supports multiple chains, including ETH, BSC, Polygon, ODIN, Osmosis, and integrates seamlessly with prominent decentralized exchanges like Sushiswap, PancakeSwap, and QuickSwap. Wallace is also evolving into a gamification platform in which users will find additional features to increase their daily rewards.
GeoDB has continued to grow and evolve. They have developed partnerships with leading blockchain and data companies, including Chainlink and Ocean Protocol, and are expanding their platform to support a wide range of data types, including financial, health, and social data.
Today, GeoDB is one of the leading blockchain-based data-sharing ecosystems, with a growing community of users and supporters. The project is committed to creating a fair and transparent data economy that benefits everyone involved, from users to businesses to developers.
Launched at the end of 2022, the Wallace Wallet has already made a significant mark, having over 5000 daily active users and over 550,000 data points shared every day.
How Moralis Supercharged GeoDB
When building the Wallace Wallet, the team needed a reliable Wallet API that could help them get accurate and real time data for balances, transactions and prices. Building the infrastructure to get ERC20 balances, transfers, trades and prices is a big project and GeoDB knew that it would be able to go to market a lot faster if they could find a partner they could trust and rely on for this data.
Moralis was an appealing partner to GeoDB because of its comprehensive list of different crypto APIs, its broad chain support and excellent customer service. Using the Moralis Wallet API, GeoDB would be able to get all the wallet data they need from a single source, making their integration a lot quicker than if they had to integrate multiple providers for the same data.
As a multi-chain decentralized wallet, it is vital for Wallace to operate with real-time prices of different tokens across various chains. Besides offering a portfolio viewing feature, Wallace also incorporates interactive elements like rewarding users in exchange for their data, and it includes various gaming components. For an optimal user experience, having a fast, responsive, and reliable real-time Web3 data service was crucial for their success.
Apart from powering the app itself, partnering with Moralis enabled GeoDB to save a significant amount of time and resources on product development, where they could focus their attention on product, user experience and go-to-market instead of infrastructure.