Decentralized MarketSpace for exchange of
Scientific data.
website
scidex.co
Decentralized MarketSpace for exchange of
Scientific data.
Short White Paper v0.0.1
In the past 30 years, the amount of data produced has increased at an exponential
rate.
This is due to technological changes such as the rise of connected devices and the
digital
transformation. By 2025 it is expected that data creation will reach one hundred
and
sixty Zettabytes.
However, the full potential of scientific data has remained largely unrealized and
underutilized. Most organizations do not have a sense of the market value of their
collected data or who could potentially acquire it. This leads to the data being
forgotten
as well as frozen on servers and never used again. To a greater extent, this is
attributable to a lack of a streamlined way of exchanging data. A trustable global
exchange platform would considerably reduce the creation of similar datasets by
different parties. More importantly, it would open the gates to cross-field
knowledge
sharing and significantly accelerate scientific discoveries.
The current absence of collaboration and data exchange largely derives from a lack
of
trust in a centralized platform and between organizations due to the existing
difficulties
in assessing data quality. Such barriers, combined with the lack of financial and
human
resources as well as the complexities in legal and business compliance greatly
hinders
organizations to partake in data sharing.
By leveraging the greatest perks of blockchain technology and artificial
intelligence
SciDex strives to set a new paradigm and to build a transparent data marketspace.
SciDex is a MarketSpace offering its members the opportunity to gain access to an
unprecedented collection of scientific data, as well as monetize their own data.
The core
product, the DataDex, is a global index for scientific data listings. Combined
with
powerful AI tools of the search engine, it enables users to search and correlate
multiple
sources of data in clusters to find trends, knowledge and causalities.
As data is never stored on SciDex, the platform fosters trust among every actor.
When
datasets are indexed, only the metadata and the compliance of the data is
submitted,
making it completely decentralized.
SciDex Shortened Whitepaper
The quality of the data is crucial to ensure the interest and retention of data
buyers on
the platform. Therefore, prior to being indexed, every dataset is subject to a
verification
process. During this process, data curators are being provided a limited access to
the
datasets in order to validate the quality of the data and its consistency with the
metadata. This network of curators is essential to the development of the platform
and
its adherence to high standards.
To ensure the growth and quality of work from the network of data curators, an
incentive model is implemented through the native tokens of the SciDex
MarketSpace.
This tokenized economy, combined with other mechanisms, such as a ranking system
and
a financial subsidy model ensures a healthy and thriving organic expansion of the
self
governed ecosystem.
Legal and business compliance around selling the right of use of the data is often
highly
dependent on various regulations. Therefore, to enable data purchasing, an
exchange
tool using proprietary Ricardian Adaptive Smart Contracts (RASC), allows
participants to
buy and sell data via the native tokens on the SciDex MarketSpace, the SciTokens
(SDX).
The main advantage of the RASC is its ability to adapt and create a new
subcontract
based on the compliance of the companies involved for any exchange.
SciDex’s goal is to become the go to place to acquire, sell or request any form of
services and contribution around scientific data. This will not only reduce the
inefficient
redundancies in data creation but will empower collaboration and propulse
scientific
research to new heights.
This is your last chance to join the SciDex community program!
The first stage of the SciDex Community program ends on Sunday, July 15th! This is your last chance to earn SciTokens by helping us spread the word by creating content about the SciDex platform.