Insight Economy: Providing a decentralised marketplace for data assets

Submitted on Tuesday, 09/07/2024

Dr Elias Tragos, UCD

SEDIMARK is an EU Innovation Action with 12 partners from 7 countries that aims to build an intelligent and secure decentralised marketplace for data and services, built on top of distributed ledgers and machine learning tools. SEDIMARK aims to address the issues of data quality, interoperability and decentralised storage by building a secure, intelligent and decentralised marketplace for data assets.

SEDIMARK will have an impact on the data market with the intelligent tools for data curation, enabling companies to easily and efficiently curate their data. SEDIMARK will also enhance the privacy of user and company data, since users will only store their data locally and will have full control over who can access their data.

SEDIMARK’s research and innovation activities include the development of a toolbox, which users will download and install locally, allowing them to connect to the overall decentralised network of the marketplace. The toolbox will include tools for data quality assessment and improvement, AI model training, interoperability enhancement, data discovery, offering and purchasing. Validation activities of the project will also take place in four different use cases in four countries.

The project activities and results aim to create a shift towards more scalable and efficient solutions for data sharing with increased privacy and data quality, as well as new models for monetisation for data sharing. Another outcome will be to facilitate access to high quality data assets, putting more emphasis on data quality improvement and assessment.