Data Notary—Auditable Data as a Basis for Monetization

Abstract

Data is the raw material for any applications and services that subsequently aim for direct or indirect monetization. The share of corporate success and attributable revenue sources usually increases with the degree of digitalization, the degree of networking, and the application and service portfolio. Given these facts, the creation of a robust and auditable data base should play a central role. An auditable data base can be seen as a quality label and, in turn, as an increase in the value of the data portfolio. This chapter explains how data can be turned into an auditable monetization basis by using Distributed Ledger Technologies and Data Notary Services based on them. After explaining the technical basics and requirements, an architecture for Data Notary Services is proposed and its individual elements are explained. Finally, the findings and advantages of using a Data Notary Service are outlined using a practical example from the Equipment-as-a-Service sector.

The translation was done with the help of artificial intelligence. A subsequent human revision was not done for this chapter.