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Data Tokenization

PreviousHedera TopicsNextData Sharing

Last updated 5 months ago

Data Tokenization Flow

  1. 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.

  2. 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.

  3. 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.

  4. 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.