DataR2E: Research and Prospects on the Value Release of Data Elements in Web 3.0

Abstract

In Web 3.0, to achieve the continuous release of the value of data elements, we start with technologies related to data circulation and conduct research and analysis on the current data element market. We find that in the traditional model of data element circulation, the sharing and exchange of multi-source heterogeneous data are disconnected from the circulation and release of data element value. This results in poor data reusability, unclear data requirements, small market size, short lifecycle of data elements and data markets, making it difficult to motivate sellers to actively participate in building the data element market, and thus hard to achieve a positive cycle of data element value release. To address this, we have conducted a strategic analysis of the value release of data elements and designed a universal reference model, DataR2E, for the entire process of value release in the data elements market. Within the DataR2E model, we introduce the concept of data element bounty production, utilizing Web3 technology and data production tools to encourage sellers to actively provide the data elements needed by buyers. We envision using data production tools to build a bridge between buyers and sellers in the data elements market, promoting the sustainable development of the data element market, overcoming the mismatch in data elements expected by buyers and sellers, thereby resolving the issues of market presence without pricing and pricing without market presence, achieving sustainable development of the data elements market, and maximizing the potential of data element value release.