Data Exchange Framework
Enrich your data set by moving towards a single version of truth across all stakeholders, with an audit trail of data requests, exchange and edit approvals
- Data exchange with businesses requires the data-owner to trust the business, which eventually becomes a point of failure in a value chain (eg, facebook data misuse).
- Data owner in a data-exchange transaction often has zero visibility in the data utilization processes of businesses
- Data Privacy and Protection laws are being implemented globally and businesses are being rightfully held accountable
- There’s a growing need of technology-driven proof of approvals for data exchange between two parties, that can be audited and traced by each involved party in real-time
- Blockchain has proved useful for this - it helps maintain an immutable, auditable single version of truth for multiple stakeholders
Key Industry Applications
- Government Organizations
- Financial Institutions (Banks)
- Supply Chains (manufacturing, aviation, pharma, textile, etc.)
How GovBlocks helps
- Leverages blockchain technology to provide on-chain approval mechanism for data exchange between two parties.
- Empowers the data-owner by providing immutable audit trail of data requests, exchange and edit approvals.
- Provides a single version of truth at each data stakeholder and eliminates the need of a centralized point of trust.
- Treats each data exchange request as a decision point and maps the PSDI principle to successfully implement it - Proposal, Solution, Decision, Implementation
- Provides real-time access to data between non-trusted stakeholders along with proofs of exchange thus allowing for synergised and coordinated data-driven activities.
- API and UI driven implementation
- Ability to deploy an independent DEF network for each business
- Real-time approval based data exchange amongst untrusted stakeholders in a value chain
Impact for Customers
- Increased customer trust with provable data utilization policies
- Distributed Record Keeping, by either one entity or the entire community for each other
- Efficiency improvements in transactions, interactions and tracking provenance of digital assets.