Towards Building Data Trust and Transparency in Data-Driven Business Applications

Abstract

In view of deriving business value from their (product) data, organisations need to adopt the right method and technology to analyse these data to infer new insights and business intelligence. This is feasible only with a certain guarantee on the completeness, trustworthiness, consistency and accuracy of the data. Thus, building trust in acquired (product) data and its analytics is pivotal if we are to realise its full benefits. To this end, we explore different technologies for building data trust, such as Blockchain, traditional distributed databases and trusted third party platforms, in combination with security algorithms. In this paper, we present a Blockchain-based solution for building data trust, based on which we designed a system prototype as a proof-of-concept.