The Marketplace of Auth3 Network (1)
In the previous article, we have introduced different roles in Auth3. Workers contribute to the basic technical infrastructures of the whole Auth3 network. Data producers mainly contribute to the Auth3 marketplace. And in this article, we will discuss the marketplace part first.
Why do we need a data marketplace
Everyone has his or her own data, and there are people who want lots of data to analyze, to make profits. Then forms the process of exchange of the two subjects, which is the basic origin of the Auth3 marketplace.
How to build a healthy one
1. Fairness and justice of data exchange
However, mostly nowadays the exchange of data is not fair and just. On centralized platforms, users don’t have irrefutable ownership of their data. Platforms sell people’s data to make profits without informing, which greatly infringe people’s right. On the contrary, on decentralized platforms like Auth3, people take the initiative to sell their data. This time, data is belonging to our own.
2. Bilateral security of data exchange
Nowadays most data exchange is not fully secure. Data providers don’t know how data consumers use it and whether consumers expose it to others. To solve this problem, some data projects leverage the trusted privacy computing technology, only giving the processed results to consumers, rather than the raw data. But it ignores consumers’ interests — consumers can’t secure whether the data providers give is real and complete. Therefore, considering these two cases, Auth3 builds two auth engines based on TEE (Trusted Execution Environment). One is for data auth to protect data providers, the other is for computation auth engine to protect data consumers.
3. Liquidity of data exchange
In addition to the ownership and the security of users’ data in Auth3, we also add the liquidity of the data. To increase the liquidity of the exchange is to increases the profits. With the development of technologies especially the Internet, physical goods and services are sold more quickly because of online shopping; endogenous digital commodities and services such as electronic publications, advice, and information are much easier to be transmitted directly through networks. These are all data.
And in order to add more liquidity, Auth3 provides storage service, helping people pull data more conveniently with fewer costs; Auth3 upgrades the carrier of data’s value — data tokenization. This form as tokens symbolizes the use right of data, which is easier to transmit, companying with the additional profit chances.
4. Third party’s participation
Data is a special digital commodity. With its minimum unit as one piece, data is always small-scale, incomplete, fragmented, single, irregular, and temporary; the aggregate of data is much more valuable for analysis. In the existing data projects on the blockchain, users have their data ownership but data is decentralized. We believe decentralization is the unique and significant characteristic of blockchain but is not appropriate for data. Therefore, “how to aggregate data” and “are data providers as individuals capable of doing so” are necessary to figure out and then improve the current pattern of data projects.
1) Data providers seldom grasp the market needs and know which of their data is valuable.
2) Data providers lack the ability to aggregate the data. Data consumers need data of different kinds like health records or real-time locations, of different scales and forms. It is hard for data providers to filtrate and aggregate the data.
3) Data providers lack the ability to process the data. Data consumers’ requests are diverse and complex, like requesting Data Cleaning, Data Analysis, Business Intelligence, etc. If consumers don’t provide the algorithms by themselves, then it is the operators’ responsibility to make a supply.
4) Data providers lack other abilities such as sales and marketing.
Therefore, we need a third party to interfere in this process between data providers and data consumers, to help providers operate their data, and better satisfy consumers’ needs. It is similar to the advertising business, where many subjects are engaged as third parties, filtering in advance and then matching the advertisement and users. In Auth3, we name this kind of the third party as Data Operators.
Conclusion
The above data marketplace exploring we’re taking is thoughtful and intended to ensure a fair and just Auth3 data marketplace with bilaterally security, high liquidity, and a credible third party’s participation. We’re building for the long-term healthy operation together with all participants.
Contact
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