Data Trade Engine
The main function that this module implements is to execute all transactions (between Data Buyers and Data Sellers) within the platform to exchange data for value in a secure, transparent, and fair-for-all way.
The main function that this module implements is to execute all transactions (between Data Buyers and Data Sellers) within the platform to exchange data for value in a secure, transparent, and fair-for-all way. The TE serves as a communication interface between the PIM backend and the data buyers. There is a myriad of data types that can be sold. The TE focuses in bulk data and audience data.
Data economy has been increasing in an exponential way but people (real owners of the data) have been taken aside.
With this system, companies and people will be able to interact directly and be part of the multi-billion market data economy. Community developers can also create tools to integrate with Data Trading Engine and participate in this economy.
Benefits for users
○ Allow users to get value from their data with their explicit consent using an API.
○ Users will participate in the data economy for the first time.
○ Users get ownership and decision over their data.
Benefits for companies
○ Get a simple and transparent system to generate data offers and get users’ data with their explicit consent.
○ Get data of higher quality
○ Be a company that protects and comply with data regulations
○ Easy to integrate it into your systems
If a Data Buyer (any company) wants to place a Data Offer (ticket to acquire a bag of users’ data), the Trading Engine will be needed to execute this transaction. The Trading Engine will execute the following steps to generate the transaction:
1. Gets the price for the audience or data being bought.
2. Calculates how many people fit in the budget.
3. Gets the certified list of users with active consents.
4. Fetches their data. If the data size is too big to handle at once, streams are used.
5. Cleans the data.
6. Handles back the data and updates credits in the accounts.