- Secure data exchange
- Automated data monetisation
- White-labeled custom data marketplace for any vertical
Empowering businesses to unlock the business value of their data
In the information age, data is an increasingly valuable asset. It forms the basis of insights that drive efficiencies and create new opportunities. Like most assets, however, data is unevenly distributed: some organisations are data rich, others are data poor. The exchange and monetisation of data assets, therefore, is essential for unlocking their full value. Thus, marketplaces for data can be considered critical infrastructure for the data economy. Unfortunately, technological hurdles have thus far severely limited the growth of data marketplaces, which has in turn stifled the data economy – to everyone’s detriment.
The challenges relate to the need to uphold privacy and security, and the difficulty of providing frictionless monetisation of data assets. When it comes to privacy and security, legacy data marketplace owners either custody data assets themselves before passing them on to buyers, or they rely on third-party cloud infrastructure to facilitate the exchange of data. In both cases, the use of intermediaries represents a privacy/security risk that is unacceptable for many organisations. As for monetisation, the problem is similar. The reliance on intermediaries creates frictions that stifle growth.
Databroker, together with SettleMint, explored the opportunities offered by blockchain technology to build data marketplace infrastructure that, by solving the pain-points in the status quo, empowers businesses to unlock the value of their data assets and unleashes growth in the data economy.
The next generation data marketplace
Using the SettleMint platform, Databroker built a smart contract solution to automate processes associated with data exchange and monetisation.
Peer-to-peer data exchange
Data providers on the marketplace install a piece of software called the Data eXchange Controller (DXC). The DXC enables data providers to securely send any data type through any data source format including files, data streams, and API flows.
Peer-to-peer automated monetisation
Smart contracts act as escrow and enforce a warranty agreement, ensuring data assets are safely and conveniently monetised.
Databroker provides decentralized data sharing functions
By automating the key data exchange and monetisation processes and providing the infrastructure for these processes to be conducted on a peer-to-peer basis, Databroker solves the pain points preventing the growth of data marketplaces.
Providing access to the data needed to drive the fourth industrial revolution
Databroker.global is a hub where organisations can find the data they need to drive valuable insights. Data sets are organised into “data communities” ranging from geographics to energy, agriculture, energy, transport, supply chain, and more. A growing number of Data Providers are utilising the hub to showcase and monetise their data assets, while buyers are finding the data they need to increase operational efficiencies, bring value add, and unlock new markets. Examples include:
Air quality and traffic flow monitoring in tunnels. These data are being used towards applications such as infrastructure development, traffic optimisation, real estate development, and more.
Satellite imagery geospatial data. These data are driving insight in precision agriculture, disaster management, insurance, media, and more.
Geographic distribution of Covid-19 cases worldwide. These data enable the timely detection and assessment of emerging threats to human health from communicable diseases, as well as the effectiveness of preventive measures.
Gig economy companies and their workers. These data empower policy makers to craft optimal regulations, investors to identify growth sectors, and gig platforms to improve their market share.
Interested buyers can browse the marketplace or consult with a DataMatch Advisor for more specific data needs.
Custom data marketplaces for any vertical
SettleMint has provided the underlying blockchain technology to the Databroker marketplace, solving the following pain points:
- Removing intermediaries: the data is shared directly between the parties by applying secured and peer-to-peer data exchange techniques
- Providing trust: data sharing agreements are enforced by the ledger, with a data delivery warranty period
- Keeping control of your data: data providers can decide if they share their data publicly or privately.
Using Databroker technology, new marketplaces for data are emerging in a variety of verticals, from chemical safety study data to smart city data portals. Contact Databroker for information on setting up your own marketplace.
As the information age accelerates, the importance of data exchange will grow commensurately. Databroker brings critical infrastructure for secure data exchange and enabling monetisation. This allows businesses to unlock new business models and drive innovation.