KRAKEN aims to deliver a trusted and secure personal data platform with state-of-the-art privacy-aware analytic methods, guaranteeing metadata privacy and query privacy. The project has the potential to become the key platform for sharing, brokerage, or trading sensitive personal data with a user-centred approach. It is a cloud-based and privacy-preserving platform suitable for securely storing, managing, and sharing of self-sovereign identity information and other personal data.

To effectively approach this challenge, the Consortium needs to realize a solid business model to guarantee feasibility, scalability, and interest by the market. To achieve this goal, it is important to understand blockchain in the context of the digital identity landscape and as a permissioning system for controlling third-party access to distributed data sources, with a focus on the market segments we are considering for the two pilots: Healthcare and Education. Partners in KRAKEN has in fact implemented two main blockchains (plus a third supporting more traditional token-based payment systems) serving respectively the distributed identity management (SSI) and the access control layer in the data marketplace.

Despite providing clear benefits as integrated components, and despite the growth in hype and interest around blockchain over recent years, the market is still far from answering the question: “how to earn money with digital identity and personal data” using blockchain and Web3 technologies that have evolved over recent years.

For this reason, it is essential to identify and understand, which are the most important market trends, what kind of solutions have been introduced into the market so far, and, of course, in which way actual players have addressed some of the problems KRAKEN is trying to answer through the entire project:

  • Is it possible to guarantee security and privacy within a personal data platform?
  • What is the real value to unlock for users to “convince” them to participate in this transformation?
  • How to involve companies in creating a network to exchange verified user information and gain revenues?

In this deliverable, we will take a snapshot of the actual experiences at a global level, with a deep focus on Healthcare and Education. The results will help the Consortium in defining the business model and business plan.

Work Package
WP6 Business Plan, Exploitation and sustainability