Data Tokenization
Data Tokenization Flow
Validation of Data
Objective: Ensure that only high-quality, validated data is eligible for tokenization.
Process:
After data is submitted and validated using smart contracts, it is marked as "validated" or "rejected."
Only validated data will proceed to the tokenization step.
Creating Tokens
Service Used: Hedera Token Service (HTS)
Inputs Required:
Data File Hash: Unique identifier for the validated data file.
Token Name: A descriptive name representing the data asset (e.g., "Validated Data Set 1").
Token Symbol: A short identifier for the token (e.g., "VD1").
Token Supply: The number of tokens to be created, typically set to one for unique data assets.
Decimals: Number of decimal places the token can have (usually set to zero for unique assets).
Metadata: Information about the data, such as origin, type, and validation date.
On-chain Recording:
Create the token using the Hedera Token Service, linking it to the validated data file.
Store the token ID and relevant metadata on the Hedera ledger, ensuring traceability.
Distributing Tokens
Objective: Allow data owners or providers to distribute tokens representing their data.
Process:
The token can be transferred to buyers, researchers, or organizations needing access to the data.
Each transfer is recorded on the Hedera ledger, maintaining a clear ownership history.
Access Control and Licensing
Inputs Required:
Token ID
Licensing terms (e.g., usage rights, duration)
On-chain Recording:
The Climate Intelligence smart app can enforce licensing terms and record them on-chain, ensuring compliance and clarity regarding how the data can be used.
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