Development of a blockchain-based marketplace for the Internet of Things data

Abstract

The Internet of Things (IoT) is recognised as a game-changer technology that expands its applicability to a huge variety of domains. The key asset is the data that the myriad of sensors embedded in the environment are constantly generating. The paper describes a Blockchain-based IoT Data Marketplace (BIDM) and presents the proof-of-concept implementation that has been developed to validate it from a functional standpoint. The BIDM enables an ecosystem where sensor owners can expose the observations that their sensors generate while retaining control over who accesses each observation and directly getting revenues according to the price they have set.