There are 3 groups who can benefit from this change:
- 1.People: Can sell their data directly to licensees, in a marketplace or stake it in liquidity pools where they set the parameters of what is acceptable use.
- 2.Data Unions: Can find a data rightsholder and build a relationship of transparency, then act on their behalf to sell their data.
- 3.Data Scientists: Can add value to open datasets by refining and enhancing info for analytics tools to consume, create synthetic data using permissioned personal info, then sell all of this.
As these projects are decentralised and open-source, stakeholders can even go one step further and run their own market, using ecosystem codebase and libraries. This way, they get a percentage of total marketplace transaction fees, as ‘the house’.