IDMoB: IoT Data Marketplace on Blockchain
This addresses the problem of inefficient data sharing for IoT and AI/ML stakeholders, though it appears incremental as it applies existing blockchain and storage technologies to a specific domain.
The paper tackles the challenge of data exchange between IoT device vendors and AI/ML solution providers by proposing IDMoB, a blockchain-based decentralized marketplace, implemented as a smart contract on Ethereum with Swarm for storage, aiming to democratize access to consented data and increase service variety.
Today, Internet of Things (IoT) devices are the powerhouse of data generation with their ever-increasing numbers and widespread penetration. Similarly, artificial intelligence (AI) and machine learning (ML) solutions are getting integrated to all kinds of services, making products significantly more "smarter". The centerpiece of these technologies is "data". IoT device vendors should be able keep up with the increased throughput and come up with new business models. On the other hand, AI/ML solutions will produce better results if training data is diverse and plentiful. In this paper, we propose a blockchain-based, decentralized and trustless data marketplace where IoT device vendors and AI/ML solution providers may interact and collaborate. By facilitating a transparent data exchange platform, access to consented data will be democratized and the variety of services targeting end-users will increase. Proposed data marketplace is implemented as a smart contract on Ethereum blockchain and Swarm is used as the distributed storage platform.