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Promoting and Incentivising Federated, Trusted, and Fair Sharing and Trading of Interoperable Data ASsets

Project description

A sustainable solution for data trading and monetising

With so much data available, it is not easy to manage it effectively. There is a massive need for solutions to facilitate the collection, sharing, storage, processing, trading and reuse of data. The EU-funded PISTIS project will bring forward a reference federated data sharing/trading and monetisation platform for secure, trusted and controlled exchange and usage of proprietary data assets and data-driven intelligence. It will advance techniques and technologies, such as federated data discovery and sharing, distributed ledger technologies, data non-fungible tokens, AI-driven data quality assessment and monetisation, to build trust among stakeholders and assuage their safety concerns. PISTIS will consider the different data supply and demand perspectives and train stakeholders to evaluate the sustainability of their data sharing strategies.

Objective

PISTIS brings forward a reference federated data sharing/trading and monetisation platform for secure, trusted and controlled exchange and usage of proprietary data assets and data-driven intelligence. PISTIS will advance the available techniques and technologies, such as federated data discovery and sharing, DLTs, data non-fungible tokens (NFTs), AI-driven data quality assessment and monetisation, to build trust among stakeholders and assuage their concerns. Such stakeholders will formulate a distributed network of existing and new data spaces with built-in governance brought by PISTIS to eliminate silos while accruing the actual data value and multiplying it through derivative assets in a fair and transparent manner. Taking into consideration the data supply and demand perspectives, PISTIS will establish the methodological and technical foundations across different axes:
-PISTIS Federated Data Management, Interoperability & Governance that aims at collecting, curating, securing and fully controlling the data made available through each organisation’s data space.
-PISTIS Federated, Secure Data Sharing that concerns the effective management and on-chain storage of (multi-party) data contracts in an inherently human-understandable manner, as well as the secure peer-to-peer data transfer and usage monitoring mechanisms for appropriately retrieving, provisioning, self-serving on-demand and tracking the appropriate data ‘slices’ according to the relevant contract provisions.
-PISTIS Data Valuation and Monetisation to systematically articulate and recommend an appropriate target value, indicatively taking into consideration the “cost” approach, the “income” approach, and the “market” approach.
-PISTIS Data Sharing Skills Cultivation that provides the training material to educate stakeholders into how they can assess their data sharing maturity, proceed with data, deploy/operate the PISTIS technologies and implement an effective and sustainable data sharing strategy.

Coordinator

FRAUNHOFER GESELLSCHAFT ZUR FORDERUNG DER ANGEWANDTEN FORSCHUNG EV
Net EU contribution
€ 1 452 479,81
Address
HANSASTRASSE 27C
80686 Munchen
Germany

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Region
Bayern Oberbayern München, Kreisfreie Stadt
Activity type
Research Organisations
Links
Total cost
€ 1 452 479,81

Participants (28)

Partners (2)