Strengthening Data Exchange with the Data Value Chain Tracker: An Innovation from Prometheus-X

Prometheus-X introduces the Data Value Chain Tracker as the cornerstone of its strategy to revolutionize data exchange. This tool is designed to support the seamless and secure transfer of data between individuals and organizations, ensure data privacy, accelerate data sharing and promote new business models.
At its core,the Data Value Chain Tracker is a sophisticated system that monitors the direct and indirect use of data and incentivizes data usage. It is based on a set of regulations, contractual requirements, and an immutable and distributed database that together form a robust infrastructure for traceable data exchange. This innovative approach not only ensures auditability and traceability of data usage, but also enables organizations and individuals to see the value of their data.

Its Advantages

The tracker offers a unique advantage in that it enables the monitoring of data providers including their contributions to the data. This feature ensures that all parties involved in the data exchange are fairly compensated, promoting a more equitable ecosystem. By providing insights into data usage and contributions, the tracker also helps organizations and individuals understand the value of their data, promoting a more informed and strategic approach to data management and sharing.

This tool has been developed not only for the technical aspect of data sharing, but also with a strong focus on the human element. It embodies a strategic component that aligns with Prometheus-X’s broader vision of improving the competitiveness of the EU workforce and creating a robust infrastructure for education and skills development.

The use of PTX asset points for participation and engagement within the PTX ecosystem represents a new way to incentivize and measure contributions. The ability to track data usage through cryptographic verification adds an immutable, tamper-proof and verifiable layer to data sharing. This ensures that contributions are accurately recorded and evaluated, strengthening trust and transparency in the ecosystem.