Towards a blockchain powered IoT data marketplace

Abstract

The unprecedented rate of IoT adoption presents an opportunity for device owners to trade their IoT data with interested buyers. A blockchain-enabled data marketplace can democratize the trading of private IoT data by empowering data owners to choose what they want to share and with whom. However, some properties of IoT make it difficult to trade the generated data in conventional centralized markets. This research focuses on developing a marketplace framework to address design challenges imposed by IoT characteristics, such as limited resource and computational capabilities, mobility, data privacy and reselling issues. We propose a three-tiered framework to effectively tackle these challenges from elemental, functional and managerial aspects.