data
The Fair and Open Data Marketplace
EQITII Foundation
Why EQITII? Because the world deserves an open data marketplace.
Tom Wheeler, Charmain of the board and was Chairman of the Federal
Communication Commission (FCC) from 2013 to 2017
The EQITII Marketplace, will run and be supported by the EQITII Foundation, will implement the Data Marketplace Distributed Blockchain. The EQITII Foundation is committed to the following principles:
- THE RIGHT to control the use of data in a secure, private and fairly compensated manner.
- THE RIGHT to easily trade Data Rights in an efficient and secure manner globally.
- THE RIGHT to permanent control over Data Rights and immutable records of the use of the data.
The EQITII Foundation governance will be run as an Open Source Foundation with a transparent structure and operating model. The structure will leverage a leading international open source licensing foundation and adheres to clear and transparent bi-laws and operating principles. Establishing the EQITII Foundation in these terms will ensure lasting credibility and security. The leadership is composed of the Board of Directors, the Management Team and the Advisory Board. The EQITII Marketplace Foundation will possess sizeable monetary assets generated by a planned Token Launch. These assets will be directed towards foundation operational investments and market investments to build a large and diverse community of data owners and data buyers. Because the EQITII Marketplace will be free to use, the activities of the Foundation will be funded by EQITII Tokens.
― COMPANIES
Access, interpret, and leverage new data. The EQITII platform gives companies a way to unlock the data generated operational equipment, Internet of Things (IoT) sensors/devices, and everyday human behavior.
― INDIVIDUALS
Protect privacy and monetize data. Selling data on the EQITII Marketplace gives people control of their information. Data creators decide who gets access to their data – and at what price.
― EVERYBODY
Buy and sell data on a fair and open market. EQITII allows companies and individuals to exchange data via secure transactions. People maintain data rights. Companies get the data they need to innovate.
Digital distrust is a problem for culture, economics, and progress. It impacts the whole of humanity. Restoring trust can restore vitality to our world
CAPITALIZING DATA
Data Capitalization = Total Volume x Price.
The proliferation of intelligent devices and sensors means the volume of data is constantly growing. The value of this data is enhanced when it is combined with other data. Thus, as the amount of data that can be related to other data increases, the market capitalization of the data exponentially grows.
When enough related data is aggregated into Big Data engines and combined with developments in technologies such as IoT, artificial intelligence, automation, blockchain and mixed reality, it holds the potential to increase profits, create new products, and preserve resources.
We believe that the he effects of this phenomenon could enable industries, organizations and governments to streamline systems, operate more effectively and efficiently (from Industry 4.0, Smart City, Smart Agriculture, Smart Supply Chain, Smart Health, etc.), and create more personalized and contextualized customer experiences.
DEMOCRATIZING DATA
Democratizing Data is more than a slogan. It is a controlling belief that the same kind of digital technology that has made data the capital asset of the 21st century can be harnessed to protect and create value for the owners of that data. There are four key components to making this happen:
― 01. The solution is a global data marketplace.
A platform for trusted data exchange through which individuals and organizations can reclaim the rights to their data and choose to share it securely, privately, easily and efficiently with the parties of their choice — all on their own terms.
― 02. Openness.
The true democratization of data is dependent on the right platform. A free, fair and open marketplace suits the needs of all individuals and organizations, regardless of size, wealth and status — while increasing trust, fostering community and rewarding cooperation.
― 03. Data is currency.
By creating an open and accessible system for bartering, we will empower data owners to recognize and benefit from the value of the data they generate every day, level the playing field and — through the promise of privacy, security and compensation — encourage participation in the global data revolution.
― 04. Eliminating data waste.
One company’s discarded data is another company’s valued asset. Information collected by one organization could be leveraged by others across industry and geography, offering access to previously unattainable data for one party and opening adjacent revenue streams for both. We believe that a global data marketplace is the ideal (and only) system to securely and efficiently make this exchange.
These are the three pillars of data rights
Data belongs to its creators. On the EQITII Marketplace, creators decide how, by whom, and through which means their data is collected. Specifically, they designate the rights they want to release, control how their data is used, and specify the value of their data.
Data owners should feel confident that the data they exchange is secure. EQITII ensures security via:
- Secure Peer-to-Peer Transactions: Only data owners and approved data buyers can view or use data. If the owner trades data with more than one entity, each channel is encrypted separately.
- Enforced Rights: Smart contracts enforce data rights and ensure data is used only as owners designate.
- Watermarking: Data watermarking makes it possible to track data should it ever leave the platform.
- No Centralized Data Store: Data is not stored anywhere in the platform. A distributed ledger logs only the transaction record and settlement purposes. The only parties that can store data are the data owner and persons or organizations to whom the owner has provided access.
CONTENT FOR COMPENSATION EQITII enables data owners to receive fair compensation for their information. Buyers make offers through the Marketplace. Sellers accept or reject the offers while maintaining control of data rights. There are no transaction fees, and data owners do not share their compensation.
EQITII Marketplace
Everybody’s data marketplace
EQITII MARKETPLACE is intended to be a secure data exchange managed by the EQITII Marketplace Foundation. Data rights holders that opt to participate in the EQITII Marketplace will be able to do so for free.
The EQITII Marketplace is intended to be an open- source, zero-fee, completely secure network that provides a marketplace for data owners and data buyers to conduct private, traceable transactions for data rights. The Marketplace will be based on blockchain, flexible Smart Contracts leveraging common metadata and data formatting for the purpose of creating a catalog and secure data exchange. It will be the first completely distributed system to manage the transaction of — and compensation for — data rights.
To facilitate this exchange, a new utility token called the EQITII Token, is being developed.
Mike Mulica, CEO
THE EQITII MARKETPLACE WILL HAVE THREE KEY DEFINING FACTORS:
― SEAMLESS
An intuitive, simple-to-use interface.
― UNMATCHED CATALOG:
An unmatched searchable catalog offering an incredible breadth of data. Ease of use minimizes the time it takes to perform a transaction.
― UNPARALLELED SECURITY:
Benefits
― EMPOWERING INDIVIDUALS
Personal information is coercively collected as a condition for receiving service. Other data is siphoned without the consumer’s knowledge. Personal privacy is sold or traded to build market dominance and corporate profit. Individual consumers, each generating small bits of data, has made granular control of that information difficult.
EQITII will offer the ability to control personal information through an easily accessible open market exchange.
People will be empowered to share their data with any interested organization they choose. In addition, because transactions will be secure, there’s no fear of data ending up in the wrong hands or being viewed, touched or misused by a third party. Last, but not least, data owners will be able to profit from the valuable data they generate every day.
― HELPING COMPANIES CAPITALIZE
There will be tremendous value from the exponential explosion of data created by smart products. Connected sensors, embedded in everything from shipping pallets to jet engines, create an Internet of Things (IoT) whose numbers have already surpassed the total global population. EQITII is creating an open platform to interpret, monetize and leverage this data explosion. According to a recent report by Accenture, “Platforms addressing the need to monetize IoT devices will give birth to IoT data marketplaces. Enabled by blockchain, these marketplaces will facilitate the exchange of IoT data between buyers and sellers, according to a recent report by Accenture potentially unlocking more than $3.6 trillion in value by 2030.”
Companies will be able to purchase data or use the Marketplace as sellers, opening up additional revenue streams that allow them to monetize their data. Likewise, for organizations that already sell or trade data, EQITII will improve the privacy, security and cost-efficiency of the transaction by cutting out the third-party middleman, conducting an equitable exchange through a distributed system that eliminates costly transaction fees.
― PRIORITIZING PRIVACY
Personal privacy is a casualty of the data explosion. EQITII is being built on a simple premise: whether it is an individual’s private information, or IoT’s sensor data, the information belongs to its creator who has the right to determine whether and how it is used, and the value created by that usage.
THE PROMISE OF THE PLATFORM
EQITII’s platform is intended to be the most efficient, secure, private and effective compensation vehicle for the sharing and trading of data rights, and the EQITII Marketplace will be designed to facilitate this process, offering easy, efficient and reliable access to data for both individuals and organizations.
Data owners will be guaranteed privacy, security and compensation. They will maintain control of the data they generate and will have the power to determine where, when, how and by whom their data is used.
Private data will stay private, unless the owner chooses to share it.
The EQITII Token enables seamless data exchange
By using a token as the means of exchange on the EQITII Marketplace, the Foundation can take advantage of the efficiencies, security and decentralized market models that blockchain offers. and allow the market structure to be decentralized, which decreases costs, increases security, speeds up transactions and makes them more efficient.
The EQITII Token is a coupon that represents the value of the data being sold. The EQITII platform was architected to specifically shift value from the process of mining (as found in other blockchain networks) to be solely representative of the value of the commodity it represents: the data being transacted between parties. Because data can be transacted between parties anywhere in the world and across borders, a utility token creates for an efficient means to represent value of the data because it remains independent of exchange rates, impacts of local changes in fiat currency and the costs associated with the use of payment processing service providers. In short, it allows the platform to have a single representation of value, the actual value of the data being traded.
The distribution of EQITII Tokens will coincide with the launch of the EQITII Marketplace. The EQITII Tokens will be marketed to a targeted audience of enterprises who are likely to become “Users” of the EQITII Marketplace, which includes the global business-to-business (B2B) market segment, specifically global businesses from vertical markets including healthcare, manufacturing, telecommunications, banking, transportation and retail.
Back-to-Back Monitoring Systems –Introducing the EQITII Token and the EQITII MSU Structure
Since the EQITII ecosystem is its own economic system, separate of any fiat managed system, it will manage as such – that is, as its own closed ecosystem. The EQITII ecosystem will have its own, algorithmically controlled monetary policy that operates separately of changes of external fiat currencies.
To achieve this vision, the model has two monetary dimensions: the EQITII Token and the EQITII MSU.
The EQITII Token
The EQITII Token is the unit of value, that a data trader can purchase using fiat currency from the EQITII Foundation. The EQITII Token enables one to trade within the closed EQITII Token ecosystem.
• Pegged to $ USD
• Matches US Inflation index
• Uncapped volume
• Release based on algorithm mapped to liquidity requirements
The EQITII MSU
The EQITII MSU is the “Minimum Spendable Unit” (MSU) in the EQITTI ecosystem. It is the only way to transact for data.
• Always a fraction of the EQITII Token
• Will never be equal or greater in value then the EQITII Token
• Always transacted in whole increments (like a USD penny)
• # of MSUs will adjust based on price pressure in the ecosystem
• Total # of MSUs per Token will not change the total value of the Tokens in the Wallet (USD)
EQITII Timeline
Initial blockchain concept complete + Technology/IP consolidation
EQITII Marketplace Foundation founded + Executive team assembled
Exclusive technology license executed + engineering team in place + coding begins
Tom Wheeler named Chairman of the Board + Open Data Rights Manifesto created
White Paper and MVP under NDA + EQITII website launched
Public announcement of advisors + White paper and MVP available to the public
EQITII Token Marketing launch
Expected Foundation Launch
Foundation Founding Members Announced
Consumer and individual marketplace comes online
App launches + B2B marketplace for enterprises comes online
How the System Works
Astenol has been working closely with its economic advisor, The Prysm Group, to create an price stabilization model that minimizes the potential of periodic increasing and decreasing trading volume on the EQITII Marketplace and its effect on the volatility in the value of the EQITII MSU. While the upside pricing band is controlled by introducing steady supply of tokens into the system. However, the downside pricing band is more difficult to control as there is no central entity which can buy-back tokens.
All data traders will purchase EQITII Tokens from the EQITII Foundation with fiat currency. The EQITII Token is issued as a set of EQITII MSUs equal to the value of the EQITII Tokens that were purchased. The data transactions then take place using increments of the EQITIII Tokens.
Since the system is designed to function in a decentralized network, the model has implemented an algorithm which is constantly measuring the rise and fall of the demand for data on the platform. It will automatically adjust the number of EQITII MSU in each EQITII Marketplace wallet up and down as needed to manage and adjust the value, without changing the value of the EQITII Token, which remains pegged to the U.S. dollar (adjusted for inflation). The adjustments in the Equity MSU will occur on an automatic basis, reflecting the need for liquidity equilibrium in the EQITII Marketplace data trading system. When more substantial liquidity in required in the EQITII Marketplace, the EQITII Foundation will automatically sell additional EQITII Tokens, via the monetary liquidity algorithm, pegged to the US dollar.
The EQITII Foundation will offer block rewards to encourage cooperative behavior on the platform and promote adoption of the EQITII Marketplace. For example, these block rewards may incentivize verified transactions by highly active data buyers or sellers or provide incentives to buyers and sellers for introducing high-quality data into the EQITII Marketplace.
The economic model for the EQITII Token and MSU monetary policy was created to stimulate the adoption of the EQITII Marketplace by data sellers and data buyers. To that end, keeping the EQITII Token value stable is a core design feature in the long-term market model for the EQITII Marketplace. To achieve this stability, the following design criteria of the EQITII Token economy has been implemented:
There is no cap on the number of EQITII Tokens the EQITII Foundation can introduce to the Marketplace. This is the first principle of the EQITII economic design. This principle also deters users from conducting “speculative” trading.
EQITII Tokens will be introduced into the Marketplace based upon the need for liquidity. In other words, the algorithm will introduce additional EQITII Tokens based upon rising economic activity. This paradigm of infinite minting capacity, with additional supply introduced to the marketplace only when additional liquidity is required, is designed to maintain an efficient barter market model. The use of the EQITII MSU acts in a similar fashion to facilitate stability and is especially effective in situations where downward pressure is being placed on the token due to reduced trading volume in the marketplace. This is the second Principle of the EQITII economic design.
The EQITII Token’s price will be permanently pegged to the US dollar at a universally applied daily benchmark. This is the third principle of the EQITII economic design.
Technology
How it works
Transactions in the EQITTI Marketplace are easy, frictionless and secure. The User Journey is represented in these six steps:
The User Journey is represented in these six steps:
― 01. ADVERTISE
Seller advertises the sale of data on the EQITII Marketplace
Interested buyer is matched to an advertised sale through the Marketplace
― 03. CONTRACT
― 04. ESCROW
― 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
Blockchain & The EQITII Token
By its very nature, a unit of data typically generated via the Internet of Things is small, specific, transactional and time-sensitive. IoT devices themselves, in many cases, have limited processing capabilities and/or storage potential. Because the EQITII platform will be open and free of transaction fees, and given the small size and frequency of transactions, EQITII has devised a new approach to manage consensus, frequency and the speed of each transaction — one designed to ensure scalability to meet the needs of the market in a world of exploding data generation.
EQITII’s system will be designed to accommodate the specific needs of high-volume, enormously scalable and intermittent low-cost transactions, while ensuring privacy, security and compensation for the data rights holder.
The EQITII network will be based on the Hyperledger Sawtooth and has been customized to the needs of an open, public and distributed network. To allow compensation for data exchange, we’re introducing a new utility Token.
― Elements of the network
The EQITII Marketplace will be a platform that consists primarily of service peers, or nodes, powered by Hyperledger Sawtooth.
The peer nodes will communicate with client nodes, which in turn may integrate into a DApp (Distributed Application) or be collocated with a peer node and/or accessed via a web browser.
Each node will manage the blockchain, smart contracts and data exchange, as well as communication with a KYC provider.
― Solutions for Developers
Developers wishing to build vertical applications for the exchange of data on the EQITII platform will access the functions and services of peer nodes through a set of RESTful APIs (Application Programming Interfaces). This offers quick and intuitive integration into client nodes.
A set of DApps will be offered at launch.
These will consist of:
- A Marketplace UI integrated with a wallet application for both Android and iOS for use by consumers who want to sell data.
- Fully functional, enterprise ready application examples that will be distributed in the Container Image. These application examples can be accessed by though any web browser.
Meet our Team
The EQITII team is a diverse, decorated group of trusted and established experts, entrepreneurs, executives and engineers — all pioneers in their own fields — with combined knowledge and experience across industries and organizations worldwide. With different but complementary backgrounds and specialties, each member brings a unique perspective to EQITII, where they’re united by a shared sense of urgency, an overarching belief in equal rights, and the certainty that democratized data is the future of business and humanity.
Management Team
Larryi Ding has over twenty years of experience across different industries incl Shahid has been an advisor to several early-stage firms focused on the telecom, Tom Wheeler is a businessman, author, and was Chairman of the Federal Communicat
Larryi Ding
CEO
Shahid Ahmed
COO & Co-Founder
Tom Wheeler
Chairman of the Board
Advisory Board
Mike’s stewardship of companies in emerging technologies has ushered in new la Amyn Gillani is the CEO at Talos Digital, which is a team of professional softwa Michael Luna is a prolific inventor who holds or is named on more than 94 issued
Mike Mulica
Advisor
Amyn Gillani
Advisor
Michael Luna
Advisor
Partners
With years of experience, Talos Enterprise Blockchain advisors have been and are
Talos Enterprise Blockchain
Partner
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Get In Touch
Contact the EQITII Marketplace Foundation to learn more about our project
Learn how EQITII is transforming the global exchange of data.
Find out more about the technology, philosophy, and business practices that drive the EQITII Marketplace Foundation