Project description
Blockchain platform eases handling of large data volumes
The global market for Big Data and business analytics is forecast to grow to over EUR 196 billion by 2021. Despite the fact that Big Data helps optimise business processes to generate cost savings and boost productivity, data collection, transfer, processing, analysis and fusion is a complex task even for big organisations. The EU-funded Blocknetwork project will tackle this issue by developing a highly secure blockchain solution that can handle petabytes of data. Blocknetwork’s new scheme will allow fusing data sources, handling larger data volumes, taking fewer instructions and providing a simpler and faster response.
Objective
Data science is a driving force in today's information age. As per IDC, global revenues for Big Data and business analytics will grow from $bn 151 in 2017 to more than $bn 210 in 2020, a CAGR of 11.9%.
The constant discovery of vulnerabilities in ICT components, applications, services and systems is placing the entire digital society at risk. As private and public stakeholders are becoming increasingly dependent on critical cyber-infrastructure, new solutions are needed to increase detection and response capabilities.
Collecting, transferring, processing, analyzing and eventually fusing Big Data remains a complex R&D topic for even the most advanced organization. Those that can surpass the challenges and extract business value will gain significant competitive advantages. Distributed data fusion based on DataUniTor’s Blocknetwork scheme enables a highly secure but still “lightweight” solution capable of handling flowing petabytes (10^15) of data. Blocknetwork is DataUniTor’s unique implementation of blockchain schemes. DataUniTor believes that a self-organized cryptographic Blocknetwork with an evolutionary extension model is the next logical step for blockchain to track complex transactions. The Blocknetwork fuses data sources while also offering additional security features - handling larger volumes, taking fewer instructions and providing a simpler and faster response.
The proprietary solution can integrate modules independently of the product provider, allowing for highly flexible structures. Based on technology demonstrations, we assess to be at TRL 6.
The overriding objective of the Feasibility Study is to map out the full development and commercialization of the Blocknetwork scheme. We will analyse the technical and economic feasibility of achieving a fast market uptake to exploit a near-term € 133 mill. business opportunity (revenue 2019E-2022E) based on targeting sophisticated medium to large private and public enterprises (B2B).
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- social sciences political sciences political policies civil society civil society organisations nongovernmental organizations
- engineering and technology electrical engineering, electronic engineering, information engineering electronic engineering sensors optical sensors
- natural sciences computer and information sciences data science big data
- natural sciences computer and information sciences computer security network security
- natural sciences computer and information sciences artificial intelligence machine learning
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
4021 STAVANGER
Norway
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.