MyData Blockchain

Abstract

The amount of personal data has grown at a rapid pace recently. Global Internet companies such as Facebook and Google used users’ accumulated data to track users’ activities and to predict users’ spending patterns and preferences. Unlike their intention, privacy concerns have been raised by using users’ data for activities which are agreed and not agreed in advance. Furthermore, it has become a big issue that the revenue from utilizing users' data is not given to the data owners at all. As a result, Europe Union defined General Data Protection Regulation to protect that such privacy issues do not arise in data utilization. Complying with these privacy laws, blockchain models on personal data such as MeDShare, MedBlock, and Nebula Genomics have recently emerged. In this paper, we aim to propose a blockchain model for MyData application. This model allows the creation of a shared data economy among data owners, data providers, and data consumers. The proposed model allows data owners to control the use of their data and generate revenue from their own data while maintaining anonymity. It also enables data consumers to use this model for various applications because they can obtain quality data legitimately. First, anonymized identity data is assigned to each data instead of using de-identified identity data for each person. Second, data relayers support data discovery effectively by querying. Furthermore, forming two types of tokens such as security and utility makes the ecosystem stable continuously. Thus, the proposed model can have three advantages such as anonymity, the effectiveness of search, and stability in the ecosystem compared to the three aforementioned models.