The letter S in SEDIMARK

The first letter in SEDIMARK stands for Secure. How does Security is involved into SEDIMARK? In this blog post we will present an overview of the Security and Trust Domain within SEDIMARK!

Nowadays, the proliferation of large amount of data requires to ensure the security and integrity of the information exchanged. In the traditional way, a centralized data marketplaces face security challenges such as data manipulation, unauthorized access, and lack of transparency. 

In response to these challenges, Distributed Ledger Technology (DLT) has emerged as an alternative solution, offering decentralized (see "The letter D in SEDIMARK"), immutable, and transparent data exchange mechanisms.

Enhancing Security in Data Exchange

Centralized data marketplaces are susceptible to various security vulnerabilities, including single points of failure and data breaches.

Using DLT mitigates these risks: the control is decentralized and the cryptographic mechanisms ensure the security.

In SEDIMARK Marketplace the participants can securely exchange data without relying on third-parties (intermediaries), reducing the risks for unwanted data manipulation or unauthorized access to their data (or, more in general, their assets).

Security Features

SEDIMARK will employ (... or is it already?!) key features enabled by DLT, such as smart contracts, Self-Sovereign Identity (SSI), and cryptographic primitives to enhance security and transparency of the Marketplace.

The Smart Contracts automate the execution of agreements between parties, ensuring trustless and tamper-proof transactions.

SSI allows users of the Marketplace to retain full control on their own identity, without relying on centralized authorities (see A Matter of Identities).

Finally, the cryptographic primitives are the underlying functions to ensure data security and integrity.

Ensuring Data Origin

Using cryptographic functions, such as digest, ensures the creation of a mathematically unique fingerprint for a certain asset.

Recording (or "anchoring") such value onto the DLT allows to achieve an immutable data trail.

So, every user can be certain of the origin of the asset that is purchasing.

This also leads to additional transparency enhancing the Trust in this distributed marketplace.

SEDIMARK exploits traditional cryptographic mechanisms as well as DLT to freshen up data (asset!) exchange mechanism and to secure the Marketplace.

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* Source image: shutterstock