The OBSERVER is an innovative platform where individuals and private firms trade daily weather data. Anyone in the world can trade weather data that is collected by smartphones, mini weather stations, or automobiles, and receive OBSERVER coins as compensation. The quality of the collected data is verified through big data technology, and the details are recorded in the blockchain. This allows the OBSERVER to create high-resolution weather data that has never been available before.
The weather market, which has been dominated by public services, is rapidly growing in size. The portion of the U.S. GDP that is affected by weather events is estimated to be $1,334 billion annually, and the economic value of weather information is estimated to be at roughly $13 billion (NWS Enterprise Analysis Report 2017). The total private weather industry revenue of 2015 is estimated to be $4-5 billion, with a service provider revenue estimated at $2.5 billion (AMS 2012, State of the Weather and Climate Enterprise). The annual budget of the U.S. National Weather Service is in the range of a billion dollars, and the aggregated amount of weather-related budgets for countries that operate weather observation networks is estimated to be at several billion dollars. Considering the recent M&A of major weather companies, the capitalization of the private weather industry is estimated to be above $9 billion and is growing at a rate of 10 to 15 percent annually (University Corporation for Atmospheric Research).