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UBITECH participates at the kick-off meeting of the PISTIS Innovation Action on federated, trusted and fair sharing and trading of interoperable data assets

UBITECH participated at the kick-off meeting hosted by Fraunhofer FOKUS in Berlin, Germany (January 24-25, 2023) of the PISTIS Innovation Action, officially started on January 1st, 2023. The project is funded by European Commission under Horizon Europe Programme (Grant Agreement No. 101093016) and spans on the period January 2023 – June 2026. PISTIS brings forward a reference federated data sharing/trading and monetisation platform for secure, trusted and controlled exchange and usage of proprietary data assets and data-driven intelligence. PISTIS will advance the available techniques and technologies, such as federated data discovery and sharing, DLTs, data non-fungible tokens (NFTs), AI-driven data quality assessment and monetisation, to build trust among stakeholders and assuage their concerns. Such stakeholders will formulate a distributed network of existing and new data spaces with built-in governance brought by PISTIS to eliminate silos while accruing the actual data value and multiplying it through derivative assets in a fair and transparent manner.

Taking into consideration the data supply and demand perspectives, PISTIS will establish the methodological and technical foundations across different axes:

Federated Data Management, Interoperability & Governance that aims at collecting, curating, securing and fully controlling the data made available through each organisation’s data space.

Federated, Secure Data Sharing that concerns the effective management and on-chain storage of (multi-party) data contracts in an inherently human-understandable manner, as well as the secure peer-to-peer data transfer and usage monitoring mechanisms for appropriately retrieving, provisioning, self-serving on-demand and tracking the appropriate data ‘slices’ according to the relevant contract provisions.

Data Valuation and Monetisation to systematically articulate and recommend an appropriate target value, indicatively taking into consideration the “cost” approach, the “income” approach, and the “market” approach.

Data Sharing Skills Cultivation that provides the training material to educate stakeholders into how they can assess their data sharing maturity, proceed with data, deploy/operate the PISTIS technologies and implement an effective and sustainable data sharing strategy.

Within PISTIS, UBITECH works on the design and implementation of the Security, Trust and Privacy Preservation service bundle offered by the PISTIS platform, compiled by different components/modules namely a) the GDPR Checker safeguarding personal and confidential data against any unintended disclosure adhering to the relevant legislations, b) the Anonymisation module enabling users to anonymise their data, c) the Access Policies module responsible for resolving and enforcing the access policies across all data exchanges in the PISTIS Platform, d) the Searchable Encryption and the KeyTray both serving the needs of the encryption services offered to data providers and facilitate the effective management of the key sharing and data decryption functions, enabling secure sharing of (batch) data while ensuring end-to-end data privacy.

Moreover, UBITECH implements an immutable and high performant blockchain solution to support the data sharing, data trading and monetisation activities of the PISTIS platform. What is more, instead of its expected usage as a means to execute transactions in the network, the blockchain network shall be also employed to track the lineage of the datasets exchanged through the PISTIS platform. In other words, the blockchain solution shall not solely try to record monetary transactions and trading, but also the line of operations on the data, as well as data access requests and data shares (i.e. the log of the PISTIS platform) to also act as an audit tool for the enforcement services. In addition, UBITECH implements the Smart Contract Execution Engine, responsible to execute the rules written in smart contracts and clear the monetary proceedings. The last module developed by UBITECH is the public, distributed ledger responsible to record the above-mentioned transactions and offer encrypted distributed storage of these transactions and smart contracts execution to the PISTIS Data Exchange Market.