The i3-MARKET backplane is opensource software that integrates data markets, via APIs, allowing users to access, sell, and buy European data through common interfaces, secure contracts and trusted payments methods.
The i3-MARKET backplane introduces data monetisation in the form of Intelligent Data Economy services to formerly closed systems. The goal is to help these systems offer and share data and to lower the market-entry barriers for stakeholders–especially SMEs–to trade their data assets.
Overcoming the “siloisation” of data markets could ignite a flourishing data economy that fosters innovation and business in Europe.
i3-MARKET focuses on the desired levels of privacy and confidentiality that support both legal and user-desired control and transparency for sharing data among relevant systems and services. The i3-MARKET backplane pays special attention in regulatory aspects around sensitive data assets developing the required security and access control measures that enable secure trading of data including support for automated contracting (smart contracts incl. the required legal framework following European regulation) and real-time exchange of data.
Thus, i3-Market stands from its main objectives (Intelligent, Interoperable, Integrative and deployable open source MARKETplace backplane with trusted and secure software tools for incentivising the industry data economy). The main objective of the i3-MARKETproposal is to overcome these hurdles by developing the lacking building blocks (in the form of a software framework called i3-MARKET backplane) for data providers and consumers, and thus incentivise and enable the creation of a more trusted European data market economy. i3-MARKETaddressesthe interoperability and integration challenges for trading data assets across independent stakeholders by means of secured transactions based on data annotation (semantics) as well as a trusted data trading platform and will provide a network of decentralised and Economy-driven and Scalable Data Repositories that can be extensible for enabling the deployment of Intelligent industrial Data Services fostering innovation and business opportunities.
The i3-MARKET proposal aims at enabling the federation of data markets and targets to become a key enabler for embracing the latest European Commission Digital Single Market strategy, incentivizing the industrial data market economy. The impact of the exploitation of the i3-MARKET will be tackled, overall and individually, by exploitation and business models that will benefit all stakeholders in the data economy and take into account the information societies in Europe.