Periodic Reporting for period 1 - PISTIS (Promoting and Incentivising Federated, Trusted, and Fair Sharing and Trading of Interoperable Data ASsets)
Berichtszeitraum: 2023-01-01 bis 2024-09-30
PISTIS introduces a federated data sharing, trading, and monetization platform designed for the secure, trusted, and controlled exchange and use of proprietary data assets and data-driven intelligence (derivative assets). By advancing existing technologies—such as federated data discovery and sharing, distributed ledger technologies (DLT), data NFTs, and AI-driven data quality assessment and monetization—PISTIS seeks to unlock the latent potential of data, fostering trust and addressing the concerns of diverse stakeholders including data providers, owners, and consumers. Through PISTIS, these stakeholders will form a distributed network of interconnected data spaces with built-in governance to break down data silos, maximize data value, and create new value through derivative assets (e.g. analytics and insights) in a fair and transparent way.
PISTIS aims to reshape data and intelligence sharing by establishing them as valuable, well-defined assets with clear ownership stakes, balancing the benefits and risks of data sharing while promoting sustainable business models within a thriving data market. This data-sharing paradigm is supported by developing new methodologies and delivering innovative components and tools on the PISTIS platform. Central to this approach is the concept of a data value “staircase,” representing the increasing value created at each stage of the data journey. This progression begins with raw data extracted from stakeholders' information systems and data spaces and includes: Enriched Data, Aggregated Data, Derivative Data and Data Insights.
To harmonize data supply and demand perspectives, PISTIS establishes a multi-axis methodology that seamlessly integrates key components:
1. Federated Data Management, Interoperability, and Governance: This axis focuses on collecting, curating, securing, and controlling data shared across each organization’s data space. To address interoperability, PISTIS follows three pathways:
- Syntactic Interoperability: Ensuring data availability in standardized, machine-readable formats.
- Semantic Interoperability: Mapping data fields to standardized meanings using the PISTIS Network of Data Models, which maintains cross-sector compatibility while adapting to evolving data needs.
- Metadata Interoperability: Annotating data with standardized metadata to facilitate cataloging within and beyond PISTIS.
Quality assurance is prioritized, with data observability and certification mechanisms in place to ensure high-quality, reliable data. Automated metrics further enhance trust among data consumers by certifying the data’s integrity.
2. Federated and Secure Data Sharing: This axis manages (multi-party) data contracts, from negotiation to enforcement, using on-chain storage to create transparent, understandable records. Secure peer-to-peer data transfer protocols facilitate encrypted or unencrypted retrieval, provisioning, and usage monitoring of off-chain data segments (enriched or derivative data). PISTIS guarantees compliance and smooth execution of dynamic multi-party contracts, ensuring access is revocable in response to regulatory changes, contract terminations, or violations.
3. Data Valuation and Monetization: This axis systematically evaluates data’s target value through three approaches:
- Cost Approach: Assessing the costs involved in data generation, collection, storage, and maintenance.
- Income Approach: Weighing the added value of the data itself relative to broader performance dimensions.
- Market Approach: Benchmarking against comparable assets.
Data assets at all levels are containerized into shareable, tradeable, and trackable assets, with intellectual property rights managed through data NFTs. Transactions are settled via PISTIS StableCoin for monetary exchanges, while quid pro quo transactions (data bartering) involve the exchange of agreed data assets at specific granularity and timeframes.
4. Data Sharing Skills Cultivation: This axis provides stakeholders with training materials to help assess data-sharing maturity, conduct data landscaping to identify available and missing data, deploy and operate PISTIS technologies, and implement effective data-sharing strategies.
Through its offering, PISTIS enables organizations to maximize their data's value by advancing secure, trusted, and scalable data sharing, transforming data into a strategic asset for the data economy.
PISTIS aims to reshape data and intelligence sharing by establishing them as valuable, well-defined assets with clear ownership stakes, balancing the benefits and risks of data sharing while promoting sustainable business models within a thriving data market. This data-sharing paradigm is supported by developing new methodologies and delivering innovative components and tools on the PISTIS platform. Central to this approach is the concept of a data value “staircase,” representing the increasing value created at each stage of the data journey. This progression begins with raw data extracted from stakeholders' information systems and data spaces and includes: Enriched Data, Aggregated Data, Derivative Data and Data Insights.
To harmonize data supply and demand perspectives, PISTIS establishes a multi-axis methodology that seamlessly integrates key components:
1. Federated Data Management, Interoperability, and Governance: This axis focuses on collecting, curating, securing, and controlling data shared across each organization’s data space. To address interoperability, PISTIS follows three pathways:
- Syntactic Interoperability: Ensuring data availability in standardized, machine-readable formats.
- Semantic Interoperability: Mapping data fields to standardized meanings using the PISTIS Network of Data Models, which maintains cross-sector compatibility while adapting to evolving data needs.
- Metadata Interoperability: Annotating data with standardized metadata to facilitate cataloging within and beyond PISTIS.
Quality assurance is prioritized, with data observability and certification mechanisms in place to ensure high-quality, reliable data. Automated metrics further enhance trust among data consumers by certifying the data’s integrity.
2. Federated and Secure Data Sharing: This axis manages (multi-party) data contracts, from negotiation to enforcement, using on-chain storage to create transparent, understandable records. Secure peer-to-peer data transfer protocols facilitate encrypted or unencrypted retrieval, provisioning, and usage monitoring of off-chain data segments (enriched or derivative data). PISTIS guarantees compliance and smooth execution of dynamic multi-party contracts, ensuring access is revocable in response to regulatory changes, contract terminations, or violations.
3. Data Valuation and Monetization: This axis systematically evaluates data’s target value through three approaches:
- Cost Approach: Assessing the costs involved in data generation, collection, storage, and maintenance.
- Income Approach: Weighing the added value of the data itself relative to broader performance dimensions.
- Market Approach: Benchmarking against comparable assets.
Data assets at all levels are containerized into shareable, tradeable, and trackable assets, with intellectual property rights managed through data NFTs. Transactions are settled via PISTIS StableCoin for monetary exchanges, while quid pro quo transactions (data bartering) involve the exchange of agreed data assets at specific granularity and timeframes.
4. Data Sharing Skills Cultivation: This axis provides stakeholders with training materials to help assess data-sharing maturity, conduct data landscaping to identify available and missing data, deploy and operate PISTIS technologies, and implement effective data-sharing strategies.
Through its offering, PISTIS enables organizations to maximize their data's value by advancing secure, trusted, and scalable data sharing, transforming data into a strategic asset for the data economy.
Over the initial 21 months, the project consortium adhered closely to its implementation methodology and work plan, gathering essential insights into the data economy’s needs, identifying relevant initiatives and technologies, and defining the requirements and minimum viable products (MVPs) for the PISTIS platform. This process included six main activities: State-of-Play Analysis, Cross-Sector Analysis and Strategic Alignment, Ethical and Legal Analysis, Stakeholder Business Requirements Definition, Usage Scenarios Development and Definition of User Stories and Technical Requirements.
Following this preparatory phase, the project consortium shifted to the technical implementation phase, focusing on the design, development, and integration of new technologies, as well as the customization of existing solutions to create the Alpha version of the PISTIS platform. This phase embraced agile development principles, emphasizing iterative platform enhancements based on real-user feedback. Key activities during this phase included: Methodology and Technology Research, Architecture Design and Alpha Version Development.
To assess the potential of the PISTIS-developed technologies for adoption in various data ecosystems and to address current challenges, real-life business scenarios will serve as testing grounds. In tandem with implementation, initial evaluation steps included: Evaluation Framework Definition, Defining the Evaluation Plan and Stakeholder Engagement Strategy and Demonstration Preparation.
Following this preparatory phase, the project consortium shifted to the technical implementation phase, focusing on the design, development, and integration of new technologies, as well as the customization of existing solutions to create the Alpha version of the PISTIS platform. This phase embraced agile development principles, emphasizing iterative platform enhancements based on real-user feedback. Key activities during this phase included: Methodology and Technology Research, Architecture Design and Alpha Version Development.
To assess the potential of the PISTIS-developed technologies for adoption in various data ecosystems and to address current challenges, real-life business scenarios will serve as testing grounds. In tandem with implementation, initial evaluation steps included: Evaluation Framework Definition, Defining the Evaluation Plan and Stakeholder Engagement Strategy and Demonstration Preparation.
The primary outcome of the project is the PISTIS platform—a federated data marketplace that combines software components and service features to facilitate secure, compliant, and efficient data exchange and monetization. Designed to meet the objectives of European Data Spaces, PISTIS ensures data sovereignty, security, and value creation within the digital economy. In line with the project work plan, the alpha version of the platform has been successfully produced.
Key Strengths of the PISTIS Platform are Robust Security and Regulatory Compliance, Comprehensive Full-Featured Platform Offering, Data Sovereignty, Interoperability and Integration, Scalability.
Key Strengths of the PISTIS Platform are Robust Security and Regulatory Compliance, Comprehensive Full-Featured Platform Offering, Data Sovereignty, Interoperability and Integration, Scalability.