//Wibson a blockchain based decentralized data marketplace

Wibson a blockchain based decentralized data marketplace

Marketplace is decentralized because any qualified participants can go into the market as a Data seller, Data buyer or notary. There is no central authority that gives access or denial into the market.Relationship between Wibson marketplace participantsData sellers are owners of data and they are free to sell their data when they wish to.Data buyer is any organization or individual that wish to buy dataNotary is a verification system that is used to affirm participantsinformation when necessary, it proves the truth on the quality and reliability of ones data when its needed. It is also used for judgement in case if any issue arrises between Data Sellers and Data Buyers.For one to become a Notary, the individual must have a means to get accurate information about the data exchanged in the marketplace. The notary is an entity that has information about Data sellers kept in there own file and they will be able to verify that information. Wibson anticipates that all Notaries should have public identities and an off-chain reputation.Example of Real World Market Participants using Bank Credit Card TransactionsAssuming that the Data Seller is a client of a Bank, who issued his credit card transactions on the market. The Data Buyer can be any entity that needs transactional data to train its machine learning models.In this example, the Bank is the perfect Notary since: – The Bank can confirm that the Data Seller is indeed a client of the Bank, by requesting the Data Seller to provide information that validate him/her.– The Bank can act as a Notary in case of dispute, and verify whether the information of credit card transactions sent by the Data Seller to the Data Buyer is valid and trustworthy by cross checking it with the client’s credit card transactions that is in the Bank’s own record.http://bit.ly/2DtAjCO username: Ebyluscious

Marketplace is decentralized because any qualified participants can go into the market as a Data seller, Data buyer or notary. There is no central authority that gives access or denial into the market.

Relationship between Wibson marketplace participants

Data sellers are owners of data and they are free to sell their data when they wish to.

Data buyer is any organization or individual that wish to buy data

Notary is a verification system that is used to affirm participants
information when necessary, it proves the truth on the quality and reliability of ones data when its needed. It is also used for judgement in case if any issue arrises between Data Sellers and Data Buyers.

For one to become a Notary, the individual must have a means to get accurate information about the data exchanged in the marketplace. The notary is an entity that has information about Data sellers kept in there own file and they will be able to verify that information. Wibson anticipates that all Notaries should have public identities and an off-chain reputation.

Example of Real World Market Participants using Bank Credit Card Transactions

Assuming that the Data Seller is a client of a Bank, who issued his credit card transactions on the market. The Data Buyer can be any entity that needs transactional data to train its machine learning models.

In this example, the Bank is the perfect Notary since: – The Bank can confirm that the Data Seller is indeed a client of the Bank, by requesting the Data Seller to provide information that validate him/her.

– The Bank can act as a Notary in case of dispute, and verify whether the information of credit card transactions sent by the Data Seller to the Data Buyer is valid and trustworthy by cross checking it with the client’s credit card transactions that is in the Bank’s own record.

https://wibson.org/

Bounty0x username: Ebyluscious