Technologies

Data Marketplace and Data Exchange Protocol for Unlocking the Full Potential of Data


Abstract/Technology Overview

Data is rapidly gaining value in our modern society. Big tech-companies maintain their current market dominance by collecting, processing and selling petabytes of it. The growth of data is still growing rapidly and shows no sign of slowing down as millions of new devices are connected to the internet daily.

In recent years, consumers have become increasingly aware of the value of their data. New regulations such as the GDPR has changed the game for data ownership, requiring explicit consent for data usage. This fundamentally changes the way we look at data and poses a new set of technical challenges, such as ownership tracking, consent management, protection and privacy concerns and compliant ways to capitalize on data. An additional trust layer on top of the internet protocol is required to solve these challenges in order to create a new data economy.

We offer a scalable and trust-oriented data Marketplace as a Service (MaaS) where the data-owner is the primary authority and ultimate beneficiary. Our platform provides a trust layer based on digital signatures that binds a person or entity to the data which guarantees the consent, provenance, traceability and privacy during the lifetime of the data. The platform integrates automated payments and data live streams such that data providers or owners can instantly capitalize on their data and easily exchange data with all consumers.

Access to data is a real commodity. Our data marketplace offers a new way to look at data and put your data to work!


Technology Features, Specifications and Advantages

Technology features:

  • Blockchain technology at the core of the marketplace allows us to embed trust at the protocol level. As a result, all market participants can independently prove correctness, provenance and consent of all data bought or sold on the marketplace using digital signature schemes.
  • The marketplace includes three core functionalities:
    1. a digital identity for each market participant,
    2. a payment module that facilitate instantaneous payment for data with a digital currency and,
    3. an asset module that captures any abstract data format as an asset class.
  • Access control to the market place is governed by an authentication protocol embedded in the blockchain layer, ensuring an immutable, auditable and traceable log of all governance events of the marketplace.
  • The marketplace uses a publication-subscription protocol (PubSub) based on WAMP, which is an open standard messaging protocol to create live streams of data.


Potential Applications

Wherever there are data providers and potential consumers of that data, the Data MaaS offers a solution to unlock the potential and provide a fair exchange of value. This becomes particularly relevant for industries where large amounts of data are continuously being generated.

With our technology, it is easy to facilitate the following use-cases:

  • open up an account to either publish a data stream and start capitalizing on your data
  • subscribe to a data stream to enrich your application and build a new service around it

A non-exhaustive list of industry examples:

  • Automotive
  • Finance
  • Healthcare
  • Advertising
  • (e-)commerce/Retail
  • Internet of Things


Customer Benefit

Some other advantages:

  • API-first
  • Unlock the potential of data
  • Simple publication of data livestream
  • Simple subscription on data livestream
  • Open documentation of the protocol
  • Delivered as a service
  • Clear governance layer
  • Uses open standards like WAMP (Web Application Messaging Protocol) to facilitate live streams
  • Native digital identity and authentication modules
  • Uses elliptic curve cryptography (EdDSA) to facilitate digital signatures
  • Significantly reduce the amount of business development, migration and maintenance work
  • Drastically save costs for staff
  • Reduce risk and responsibility

OVERVIEW
Contact Person

Daniel den Boer

Organisation

Vaulut

Technology Category
  • Artificial Intelligence
  • Big Data, Data Analytics, Data Mining & Data Visualisation
  • Blockchain
  • Data Processing
  • eCommerce & ePayment
  • Internet of Things & Wearable Technology
Technology Status
  • Available for Licensing
Technology Readiness Level
  • TRL 7
Keywords

Data marketplace, Data, Data management, Data exchange, Access management, Blockchain, Distributed ledger, Cryptography, api, PubSub, WAMP