DEFS - Data exchange with Free Sample Protocol

Abstract

Distrust between data providers and data consumers is one of the main obstacles hampering digital-data commerce to take off. Data providers want to get paid for what they offer, while data consumers want to know exactly what are they paying for before actually paying for it. In this article, we present a protocol that overcomes this obstacle by building trust based on two main ideas. First, a probabilistic verification protocol, where some random samples of the real dataset are shown to buyers in order to allow them to make an assessment before committing any payment; and second a guaranteed, protected payment process, enforced with smart contracts on a public blockchain, that guarantees the payment of the data if and only if the data provided meets the agreed terms, and that refunds honest players otherwise.