So basically 1 million of entries each day seems a lot indeed.
Actually I think it will take few years to reach this level but when it will reach it as the grow should be exponential then the value will grow exponentially.
From now to this point it is all about speculation and if it will reach this point, but if it reaches it then the value of factoid can be easily few thousands of dollars in my mind.
Furthermore the speculation side will always be in advance compare to the real value of Factoid, if you check disruptive start up their valuation correspond at 80 years of current profits, people speculate that their profits will grow exponentially...
It's not that much. Just some examples about data and files:
Mastercard transactions:
MasterCard processes an average of 51 million authorizations of financial transactions a day, enabling consumers to make purchases instantly, anytime, almost anywhere, in both the virtual and real worlds.
https://www.mastercard.com/us/company/en/docs/092408MasterCardFAQ.pdf VISA:
Process 300 million transactions a day without going crazy
http://www.techrepublic.com/blog/decision-central/process-300-million-transactions-a-day-without-going-crazy/ Trading:
TheTabb Group, a consultancy based in Westborough, MA, estimates that high-frequency automated trading now accounts for 61 percent of the more than 10 billion shares traded daily across the numerous exchanges that make up the U.S. market.
http://www.technologyreview.com/featuredstory/416805/trading-shares-in-milliseconds/Just one trader:
By the end of the day, his computers will have bought and sold about 60 million to 80 million shares, with the heaviest activity in the last hour of trading, from three to four in the afternoon.
http://www.technologyreview.com/featuredstory/416805/trading-shares-in-milliseconds/Health/Medical-Records:
Government agency handles billions of files containing private health information
The Challenge Improve security and data exchange across a complex partner network
https://pkware.cachefly.net/webdocs/casestudies/CMS.pdfIBM says Elastic Storage is capable of scanning 10 billion files in 43 minutes and can move billions of files in microseconds. It can also automatically transfer less frequently used data across the whole capacity pool into less expensive storage options, leaving faster storage resources, such as Flash for more important data. IBM claims this can cut down storage costs by as much as 90%.
(...) IBM started receiving
calls from members of the healthcare industry who said they were interested in using Elastic Storage to store and process complex and voluminous medical data.
http://www.techtimes.com/articles/6884/20140513/ibm-launches-elastic-storage-scan-10-billion-files-no-sweat.htmEverybody can do some research about it to find some statistics of different sectors and industries and businesses and "big data" etc. Just think about data of patients, banks, data in science, laboratories, offices for statistics, etc., and just for fun:
Maybe this wouldn't have been happened with Factom:
Report Reveals $8.5 Trillion Missing From Pentagon Budget
http://www.globalresearch.ca/report-reveals-8-5-trillion-missing-from-pentagon-budget-2/5453618And no, I don't believe the Pentagon will use Factom. ;-)
But, to be serious again: I believe Factom is extreme. There is just "do it or die". If it's just about some millions of files I don't believe that could be seen as success. If Factom will be what it is intended to be, it will be about billions of Entrys. It won't be about little girls who hash their diary everyday. ;-)
