Blockchain Enabled Data Marketplace -- Design and Challenges

TL;DR

This paper proposes a blockchain-based data marketplace that aims to address fairness, efficiency, security, privacy, and regulatory compliance, outlining its design and discussing implementation challenges.

Contribution

It introduces a comprehensive blockchain-enabled data marketplace design that overcomes limitations of existing platforms and discusses key challenges in its development.

Findings

Proposed a blockchain-based framework for data trading

Identified key challenges in implementing secure and compliant data marketplaces

Highlighted how blockchain can enhance fairness and privacy in data trading

Abstract

Data is of unprecedented importance today. The most valuable companies of today treat data as a commodity, which they trade and earn revenues. To facilitate such trading, data marketplaces have emerged. Present data marketplaces are inadequate as they fail to satisfy all the desirable properties - fairness, efficiency, security, privacy and adherence to regulations. In this article, we propose a blockchain enabled data marketplace solution that fulfills all required properties. We outline the design, show how to design such a system and discuss the challenges in building a complete data marketplace.