FAME: Federated Decentralized Trusted Data Marketplace for Embedded Finance

Published July 10, 2024 | Version v1

Conference paper Open

Abstract

—Due to its multivariate and multipurpose use and

reuse, data’s worth is dramatically increasing, leading to an era

characterized by the generation of data marketplaces towards

accessing, selling, sharing, and trading data and data assets.

However, most market vendors still follow a centralized

monolithic cloud model for controlling most of the market for

data services. Also, this strategy is incompatible with European

objectives for cloud computing and the data economy, lacking

data sovereignty and cross-cloud interoperability principles.

Towards these limitations, the FAME project is introduced as a

joint effort in the fields of data management, data technologies,

data economy, and digital finance to develop, deploy and launch

to the global market a unique, trustworthy, energy efficient, and

secure federated data marketplace for Embedded Finance

(EmFi). This marketplace is envisioned to alleviate the

proclaimed limitations of centralized cloud data marketplaces

towards demonstrating the full potential of the data economy.

Security, interoperability, decentralized and regulatory

compliant data exchange, data assets’ trading and pricing, as

well as integration of trusted and energy efficient analytics are

among the core functionalities of FAME, which aims to act as a

single-entry point data marketplace for the EmFi domain.

FAME will be evaluated upon different real-world use cases

covering the financial industry, building a vibrant community

of EmFi stakeholders around the envisioned marketplace.

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