Data Marketplace
Data has become a new commodity and generates massive value in aggregated form.
Last updated
Data has become a new commodity and generates massive value in aggregated form.
Last updated
So far we have seen the formation of massive corporations like Google or Facebook building on a business model fully dependent on user data. By providing free services they are able to accumulate so much data so that they can offer targeted marketing services for companies out there.
The problem is that these companies are often spending much more on marketing than they actually need, based on false KPI's and assumptions. Read how Uber wasted 100m USD on adds.
Nevertheless, data markets will become huge once that siloed data is made better available to open markets and that data will be of much better quality, suitable for AI development and basic research.
Some examples where we see a perfect fit with the ARTIS network:
Datatype | Used for: |
Weather | Weather apps; Power production forecast; Energy consumption forecast; Derivative markets; Basic research; etc. |
Energy Consumption | Energy efficiency verification; Prediction models; Grid planning; Residential development planning; Energy markets; etc. |
Energy Production | Carbon emission markets; Grid planning; Prediction models; Basic research; Energy markets; etc. |
Mobility | Traffic modeling; Prediction models; Traffic safety; Urban development planning; Navigation; etc. |
Satellite | Carbon emissions markets; Deforestation control; Land usage monitoring; Prediction models; etc. |
Building data marketplaces is pioneered by Ocean Protocol and is already launched on Ethereum mainnet and the economical model is currently refined to meet the expectations of the team and the community around it.
ARTIS is a perfect place for data pools connected to such a marketplace design involving Balancer pools and ERC20 token in combination with aggregated data sources.
Trent McConaghy (Ocean Protocol) wrote a great blog post about this new approach to enable data marketplaces for many blockchain networks.
