TRUSTCHAIN OC3 - ECONOMICS AND DEMOCRACY

Description

Navigating the data exchange/trading arena proves challenging due to the involvement of multiple parties, leading to issues of trust, privacy, consent, and regulatory complexities. The existing market mechanisms for data exchange face hurdles, exacerbated by the dynamic nature of data and the digital landscape. Additionally, challenges in market competition, fair settlement practices, and determining ownership rights further complicate the ecosystem. Organizations must grapple with these challenges, ranging from establishing trust frameworks to addressing evolving privacy regulations and ensuring fair compensation for data contributors. Tackling these complexities necessitates collaborative efforts and innovative solutions to create a secure, transparent, and ethical data exchange environment. In order to achieve TrustChain vision, it is expected that applicants will define and build market mechanisms for data exchange and data trading as well as innovative win-win federated business models considering as well open data in compliance with GDPR and other regulations that implements techniques such as: Federated business models that consider fair rewarding of its participants, Establish new or enrich the existing marketplaces. Privacy preserving data sharing on third-party platforms, Fair data marketplaces: publish, search, discovery, other ·mechanisms in decentralized environments; negotiation mechanisms for data prices, Market competition that is fair and regulated in favour of the innovators, Tokenization of assets and its fair trading, protection against scams such as rug pulls, initial coin offering (ICO) fraud in digital asset trading, Establishing the value of the coins based on their quality contents, creating liquidity in the existing data marketplaces, Decentralized governance models that are fair and trustworthy to all the parties in a data exchange ecosystem, Use your eIDAS2 on the EU marketplaces, Effective data monetization strategies and business models to incentivize data providers to share their data on exchange platforms. To develop such mechanisms and innovative win-win federated business models, Applicants are requested to addressed current challenges: The current form of data sharing practise does not fairly reward the data owners/content producers. Data platform owners make decisions around the terms and conditions of data sharing. Accurate data discoverability on such marketplaces is a challenge. Precise matchmaking between sellers and buyers on a marketplace can significantly improve its performance. Data trading and exchange raise significant concerns about data privacy and security. There is a risk that sensitive or personal data could be mishandled, leading to privacy breaches, identity theft, or other malicious activities. Establishing enforceable data marketplace contracts for data exchange is missing; Clear and fair service level agreements for both sellers and buyers needs to be in place for a trustworthy marketplace. There is no standard pricing model for data, making it challenging to determine the fair market value of different data types. Mechanisms to ascertain the data quality and hence its price fairly is a challenging issue as the value of data can be subjective and context-dependent. Issue around data provenance exist as it can be difficult to verify the data source. Techniques to inspect the provenance of a specific product, service or data is missing. Open reputation management can be one of the solutions, but it requires careful design considerations. Establishing clear data governance practices, including data access controls and usage policies, is essential for responsible data exchange. Data governance frameworks can be complex to implement and enforce. Federated marketplaces among self-interested parties emerge in various contexts, such as cloud services, IoT data exchange and more, for increasing service coverage, availability, efficiency, etc. Providing support for trustworthy service provision logging, transparent billing, fair value sharing and coordination in resource allocation in these contexts is a challenge. Innovative incentive mechanisms for decentralized, coordinated outcomes, potentially involving tokenomics, in various application contexts should be provided. Enabling a sustainable circular economy that involves sharing, leasing, reusing existing materials and products demand data provenance on the transformation of properties of materials and on processes applied on them. Means to achieve such an economy requires innovation in terms of material traceability and digital passports. Marketplaces for AI/ML models trading/exchange has witnessed a rise with advancement in AI training models and fear of data exchange due to privacy violations. A comprehensive comparison of such models on marketplace remains a challenge. Digital solutions to enhance civic mobilisation and engagement. Such solutions can utilize real-time information, platforms for crowdsourcing ideas, and platforms for facilitating access to participatory channels, in order to transform and enhance democratic decision-making. Applications should cover real needs of the end-users in one a specific sector such as for example banking, education, healthcare, or e-government. A user centric design approach should frame the development of these solutions

Beneficiary & submission

Proposals are submitted in a single stage and the evaluation process is composed of three phases as presented hereafter: Phase 1: Admissibility & eligibility check Phase 2: Proposals evaluation carried out by the TrustChain Consortium with the assistance of independent experts. Phase 3: Online interviews (10 minutes pitching & 20 minutes of Q&As) and final selection carried out by TrustChain Consortium and TrustChain Advisory Board Members.

Further information

Further details are available at: https://trustchain.ngi.eu/apply Apply via:https://www.f6s.com/trustchain-open-call-3 Support team:trustchain@ngi.eu Personal Data Protection Policy available at: https://trustchain.ngi.eu/privacy-policy/ The TrustChain consortium will also organise webinars to connect with interested applicants so stay updated and get involved!