Datawallet Whitepaper

Abstract

As people engage more deeply and often with Internet services like social media,
search, and e-retail, they create ever more data. Well known social-media companies
and a secretive data-brokerage industry monetize this personal data without
explicitly consulting—or sharing the revenues with—the users who produced the
content. Such is the dominant personal-data ecosystem. There is clear need for a
transparent and fair data exchange based upon the expressive consent of the Internet
users producing the data. This whitepaper specifies such a system built upon
a user-controlled ”DataWallet” and a blockchain-based smart contract system to
allow transparent and mutually beneficial exchange of data between consenting
parties. We detail the requirements of such a system, its necessary structure, and
the dynamic interactions of its components and stakeholders through an example
focusing on a simple exchange of data for DXT (the data exchange token). We
show how such an exchange is just one of many use cases for the proposed data exchange
by describing how it can provide an augmented user experience for online
video and music services as well as provide valuable insights to data creators about

themselves.
Keywords: data exchange, blockchain, smart contract, decentralized, peer-to-peer

Datawallet Website
Datawallet Whitepaper

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