A Secure Approach on Data Trading: How the PISTIS Monetary Ledger Supports Digital Transactions

Abstract

The PISTIS project, funded by the EU, aims to develop a federated platform for secure, trusted, and controlled data trading. By integrating Distributed Ledger Technologies (DLTs) and non-fungible tokens (NFTs), PISTIS enables seamless data management, peer-to-peer transfers, on-chain contracts, and systematic data valuation. It establishes a decentralized ecosystem governed by a cloud-based infrastructure and peer-to-peer connected local resources, allowing stakeholders to manage and monetize their data assets securely. The PISTIS Monetary Ledger, leveraging the IOTA protocol, ensures scalable, feeless, and efficient financial transactions, while the Digital DLT FIAT Wallet facilitates stable fiat-to-token exchanges. Additionally, the NFT Generator enables data tokenization, promoting a transparent and value-driven data economy. This paper outlines the aforementioned parts of the platform’s functional and nonfunctional requirements, system architecture, and future developments.