Blockchain Technology as an Approach for Data Marketplaces

Abstract

In the digital Economy 'Data is the new oil. In the last decade technology has disrupted every filed imaginable. One such booming technology is Blockchain. A blockchain is essentially a distributed database of records or public ledger of all transactions or digital events that have been executed and shared among participating parties. And once entered, the information is immutable. Ongoing projects and prior work in the fields of big data, data mining and data science has revealed how relevant data can be used to enhance products and services. There are uncountable applications and advantages of relevant data. The most valuable companies of today treat data as a commodity, which they trade and earn revenues.