TECHNOLOGY

Buyers and sellers connect on a platform that rewards participation.

Blockchain and the EQITII Token power the EQITII Marketplace.

Data can come in many shapes and forms. Data can be large or small; time sensitive or unstructured. Whatever the data is, the platform needs to be adaptable and extensible.

Because EQITII is an open marketplace with no transaction fees that handles numerous small exchanges, we devised an approach to manage the consensus, frequency, and speed of each transaction — an approach designed to ensure scalability and meet market demand in a world of exploding data generation.

EQITII accommodates the specific needs of high-volume, enormously scalable, intermittent low-cost transactions. At the same time, EQITII ensures privacy, security, and compensation for the data rights holder.

The platform is based on the Hyperledger Sawtooth and is customized to meet the needs of an open, public, distributed network.

 

Elements of the network

Service peers, or nodes, powered by Hyperledger Sawtooth communicate with client nodes. These client nodes may integrate into a DApp (Distributed Application) or be collocated with a peer node and/or accessed via a web browser.

Each node instance is distributed as a Container Image and consists of the following major elements:

  • Node which manages the blockchain, smart contracts, data exchange, and communication with a KYC provider
  • Wallet and wallet interfaces
  • Integrated web server
  • Configuration modules for configuration of local services and databases
  • Access control module – this element can set up access control within organizational units, for example
  • SDK and tools

The Marketplace API

Developers can build vertical applications on an open, secure, private and free integration point for existing and emerging data pipelines. Features available at launch will be:

  • RESTful APIs for development of vertical applications on EQITII platform
  • Marketplace UI integrated with an Android/iOS wallet application for use by consumers who want to sell data
  • Platform independent and fully functional application examples distributed in the container image

How it works

Transactions in the EQITTI Marketplace are easy, frictionless and secure. The User Journey is represented in these six steps:

01.ADVERTISE

Seller advertises the sale of data on the EQITII Marketplace

02.MATCH

Interested buyer is matched to an advertised sale through the Marketplace

03.CONTRACT

Price and terms for the transaction are agreed upon and both parties sign a Smart Contract

04.ESCROW

The tokens required to purchase the data and the information needed to decrypt the data is put into escrow; a time limit for exchange is established

05.TRANSACT

Once the transaction is verified, the tokens are released from escrow and deposited into the seller’s wallet and the data is sent directly from the seller to the buyer over a separate, double encrypted peer-to-peer channel

06.RECORD

A record of the transaction between the buyer and the seller is recorded in the distributed ledger

What makes this data exchange uniquely secure?

No third party

No third party

No parties have access to the data but the buyer and the seller.

All Data is Fingerprinting

All Data is Fingerprinting

Data is digitally stamped to ensure traceability in the instance of off-platform leaks, but in a way that does not corrupt it.

No Data is stored in the marketplace

No Data is stored in the marketplace

Although a record of the transaction is recorded in the Smart Ledger, no data is stored in a database or by EQITII in any way. The system is completely distributed and secure.

Learn how EQITII is transforming the global exchange of data.

Download our White Paper

Find out more about the technology, philosophy, and business practices that drive the EQITII Marketplace Foundation.

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