Simulating Prosumer Data Trading: Testing a Blockchain Smart Contract Based Control

Abstract

Online data trading has grown alongside the ever-increasing use of digital services. Industries are accruing the benefits of this data access to perform mission-critical tasks by analyzing available data for greater insight. Unsurprisingly, data trading has not focused on improved data seller protection with preferences and controls. The objective of this paper is to explore the enforcement of seller preferences within smart contracts using blockchain technology. Data trading is only possible when a buyer satisfies the conditions predefined by the seller. Geographic location, type or size of buyer's company are some examples of seller preferences. A preferences algorithm provides an automated contract between seller and buyer without the involvement of any broker or third party. Hybrid simulation (HS) methods are used to test and evaluate the viability of our novel data control approach.