The SEDIMARK project aims to develop a decentralised data marketplace to promote safe and efficient information gathering, which will promote both efficient data utilisation between different operators and services in the shared EU data space.
The value of the data market is anticipated to increase to a whopping 100 billion euros by 2025. This puts the spotlight on a need for safe and efficient data management solutions. The SEDIMARK project promotes the creation of decentralised data markets by identifying the financial possibilities of data.
Objective
The objective of the SEDIMARK (SEcure Decentralised Intelligent Data MARKetplace) project is to build a safe decentralised data marketplace to promote efficient data utilisation. The key objective of the project is to create a system that will facilitate safe and reliable data sharing between different operators. Such a data marketplace will promote new innovations, economic growth and research, which will benefit all operators taking part in the data sharing.
The project aims to develop new technologies, such as methods utilising blockchain (DLT) and artificial intelligence (AI) to ensure the reliability and integrity of data.
Benefits of a decentralised data market:
- More effective data security
- Improved data quality
- Increased compatibility and cooperation
- Decentralised data management and trust
Duration, partners and funding
- The duration of the project is 1 October 2022–30 September 2025
- The SEDIMARK project is headed by ATOS IT SOLUTIONS AND SERVICES IBERIA SL
- SEDIMARK’s project consortium is European, consisting of twelve partners from eight different countries.
- The project has received funding from the European Union’s Horizon 2020 programme. The project has a total budget of 5,250,985 euros, of which Forum Virium Helsinki’s share is 149,250 euros.
The role of Forum Virium Helsinki
Forum Virium Helsinki is responsible for partial implementation of the project’s Helsinki pilot. The objective of the Mobility Digital Twin in Helsinki pilot is to test the functionality of the SEDIMARK data marketplace concept and convey information via the digital twin for mobility. In the context of SEDIMARK, the Helsinki use case means that the City’s existing digital twin will be updated and expanded with data provided by third parties and the City’s own infrastructure.
Benefits for Helsinki
The decentralised data marketplace will promote cooperation between the City and companies. The practical experiences yielded by the project will provide understanding of the operation of the data marketplace and the cooperation model, as well as help identify perspectives necessary for business activities.
Responsibility
The objective of the project is to create a reliable and sustainable data marketplace ecosystem that enables end users to directly utilise the results in order to improve their functions. Energy-efficient artificial intelligence technologies will be used for automatic data quality control, classification and labelling, as well as decentralised analytics and advanced services for utilising the data.
Links to the project’s channels and website
https://sedimark.eu/
https://cordis.europa.eu/project/id/101070074
https://www.linkedin.com/company/sedimark/