DEVELOPING A SECURE AND IMMUTABLE, INTEGRATED DATA STORAGE AND SHARING SOLUTION FOR INDIVIDUALS AND INDUSTRY (DECENT)

DECENT is designed to dramatically improve the security of online data in direct correlation to its reuse and exchange in order to encourage the sharing of open, PSI and proprietary data. DECENT achieves this by creating hyper secure network effects that are critical in order to maximise the benefits of data exchange and reuse, giving data measurable and hence a tradable value (nonsecure data has limited-to-zero socioeconomic value) whilst structuring and refining data by default of the valuation process. By doing so, data is automatically assigned the value store capabilities necessary to repurpose it as a legitimate “currency” for an Internet of Value (IoV), which forms the foundational building block of a “true” data economy. DECENT achieves this socioeconomic paradigm by decentralising data flow in the same way blockchain decentralises digital exchanges, replacing money-as-a-medium-of exchange with data-as-a-medium-of-exchange. Our technology and concept fundamentally redefine the relationship between “data” and “economics” by radically repurposing data as both the means and method of transacting online, eliminating the slow and expensive impediment of “cash-money” for online exchanges. This ensures data never has to be “bought” or “sold” in the traditional sense, freeing up the exchange of data on a voluntary basis. Instead, on DECENT, data itself is reused and exchanged to generate the wealth necessary to buy more data, as well as other goods and services. Put simply, DECENT creates a socioeconomic paradigm whereby the more data is freed up for reuse and exchange, the more value that is accrued by the data and the data subject who is reusing and exchanging it: this creates a sustainable, secure and immutable “data economy” that underpins a digital single market.