Digital Data Marketplace ExchangeWell Digital Data Marketplace ExchangeWell
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ExchangeWell Workstream 3

Digital Data Marketplace: A place for data commerce, sharing and research

Digital Data Marketplace

  • Participants collaborate to define and develop private or public blockchain marketplaces and rules of engagement.
  • Trusted access through contracts to distributed data with IP security and strategic commercial value.
  • Data owners retain control of their data – no need to centralize data.
  • Data assets can be commercialized for sale or freely shared – it is up to the community leaders and stakeholders to decide governance, rules of exchange, data protection, and revenue models.
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Overview

SAE ITC and ExchangeWell have a mission to help organizations and industry sectors form consortia and other cooperation models to solve challenges, reduce risk, and take advantage of opportunities to move forward.

To remain competitive, organizations must have access to usable data for use in numerous functions, including:

  • Research & development, certification, testing
  • regulatory reporting, maintenance, and repair
  • and much more throughout one or more supply chains

ExchangeWell is on the leading edge of research developing models to help data owners and algorithm developers collaborate to define and form private or public blockchain-based digital data marketplaces enabling members to design and operate in the model that fits their community developed vision.

There are many aspects required to establish a successful data sharing consortium and among the most important is to develop an appropriate governance model that includes these critical elements.

Global Growth Trends in Data Marketplaces and Exchanges

ExchangeWell was created to help stakeholders leverage global growth trends in the creation of data marketplaces and exchanges.

As cited in a recent Gartner article*, it is estimated that by 2022, 35% of large organizations will be either sellers or buyers of data via formal online data marketplaces, up from 25% in 2020.

SAE ITC and ExchangeWell bring stakeholders together to research, create, and define open, fair, and transparent methodologies to meet the vision, mission and needs of the program or consortium.

* www.gartner.com/smarterwithgartner/gartner-top-10-trends-in-data-and-analytics-for-2020/

Next Steps: Project Collaboration

Industry-focused blockchain public and private digital data marketplaces:

  • ExchangeWell has multiple early stage projects underway researching the potential development of several discrete blockchain based digital data marketplaces in specific and multi-sector environments.
  • Deliverables slated for production include tools and whitepapers to assist with development of governance, data exchange protocols and more.
  • If your organization is interested to participate in these areas of research, please contact us!

 

Platform for secure data exchange
Owners retain control over their data, data is not pooled or centralized
Distributed, scalable, multi-user, multi-tenent, B2B solution with consortium governance
and revenue sharing
Blockchain powered (private permissioned blockchain): data monetization, security,
Smart Contracts, logs and audit
AI/ML orchestration via integration with different ML engines
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