Work

Industrial data monetization: A blockchain-based industrial IoT data trading system

Year: 2023

Type: article

Abstract: The Internet of Things (IoT) devices utilized in manufacturing industries produce vast volumes of valuable data that can revolutionize productivity and sustainability. While existing centralized data marketplaces facilitate data trading, they are often marred by trust issues, a single point of failure, and significant security and privacy vulnerabilities. Addressing these critical shortcomings, this paper introduces a blockchain-based industrial data trading system that not only ensures secure and transparent data trading but also offers advantages over conventional systems. Unlike traditional marketplaces, our proposed system emphasizes trustworthiness by mitigating third-party risks, enhancing data integrity through decentralized storage, and employing graph technology for efficient blockchain querying. Further, with integrated access control, our system elevates security standards. Preliminary evaluations reveal the system’s potential to offer a more secure, transparent, auditable, and trustworthy data trading environment, distinctly outpacing the capabilities of current marketplaces.

Source: Internet of Things

DOI: 10.1016/j.iot.2023.100959

Authors: Mahmoud Abbasi, Javier Prieto, Amin Shahraki, Juan M. Corchado

Institutions: Universidad de Salamanca, University of Oslo, AIR Institute, Osaka Institute of Technology

Language: English

Topic: Blockchain Technology Applications and Security

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

SDG: Industry, innovation and infrastructure

Open Access status: hybrid

Estimated APC paid: $2,010