Blockchain Enabled Data Marketplace -- Design and Challenges

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.