Hybrid capabilities offer greater flexibility to data marketplace participants for the management of their data transactions and payments.
PARIS–(BUSINESS WIRE)–#DataEconomy—Dawex, the leading data exchange technology company and the operator of the largest data marketplace, today announced at Gitex 2019 the release of Dawex Data Exchange Platform hybrid capabilities combining decentralized and managed modes to support the exchange of data and related payments between data providers and acquirers.
Data is a strategic asset that dramatically increases its value when easily and securely exchanged between multiple business entities. The role of a data marketplace and a data exchange platform is to establish trust and enable secure and efficient data transactions between data providers and acquirers.
The announced hybrid capabilities allow the parties supplying and sourcing the data, as well as the operator of the data exchange platform, to choose between two operating modes for managing the actual transfer of data, and the related payment, when transactions are monetized. The decentralized mode takes advantage of the blockchain to allow the exchange to take place without intermediary, while providing maximum trust, traceability and transparency. This new capability completes already existing blockchain-based features for making licensing contracts forgery-proof. The managed mode allows stakeholders to rely on the data exchange platform’s rich capabilities to manage the exchange of data and payments, and benefit from various value-added services.
“Being the largest data marketplace totaling more than 8000 member-companies worldwide, puts Dawex in a unique position to understand the market dynamics when it comes to data exchange” says Laurent Lafaye, co-founder and co-CEO at Dawex. “What we observe is that corporations engaging today in data exchanges want the ability to decide which model to use and when. With Dawex hybrid approach, we’re in a unique position to provide flexibility to organizations’ evolving data strategies.”
Some organizations are envisioning the emergence and the rapid adoption of decentralized blockchain-based models. Dubai is at the forefront of innovation. Gitex is the ideal venue to launch Dawex decentralized data exchange capabilities and demonstrate the combination of technological prowess with the business expertise in operating a data marketplace at scale.
“Trust is key for organizations to engage in data marketplaces” adds Fabrice Tocco, co-founder and co-CEO of Dawex. “It is a one-stop place where multiple organizations, operating in different industry sectors, regardless of their size, meet to exchange data. Strong participants’ vetting processes are required to create trust. By implementing blockchain-based mechanisms for data exchange on the Data Exchange Platform, organizations will now benefit from an additional layer of algorithmic trust.”
Dawex, the leading data exchange technology company and the operator of the largest data marketplace, allows organizations to orchestrate data circulation by sourcing, monetizing and exchanging data directly, securely and in full compliance with regulations. Today more than 8,000 organizations from 20+ sectors rely on Dawex Global Data Marketplace and Data Exchange Platform solutions to build their data exchange strategy. Created in 2015, Dawex is a French company with offices in Paris, Lyon, San Francisco and Montreal, expanding business operations to Asia and the Middle East. www.dawex.com