Verification and Validation for data marketplaces via a blockchain and smart contracts

Abstract

Actual challenges with data in physical infrastructure include: 1) the adversity of its velocity based on access and retrieval, thus integration; 2) its value as its intrinsic quality; 3) its extensive volume with a limited variety in terms of systems; and finally, 4) its veracity, as data can be modified to obtain an economical advantage. Physical infrastructure design based on Agile project management and minimum viable products provides benefits against the traditional waterfall method. Agile supports an early return on investment that promotes circular reinvesting while making the product more adaptable to variable social-economical environments. However, Agile also presents inherent issues due to its iterative approach. Furthermore, project information requires an efficient record of the aims, requirements, and governance not only for the investors, owners, or users but also to keep evidence in future health & safety and other statutory compliance. In order to address these issues, this article presents a Validation and Verification (V&V) model for data marketplaces with a hierarchical process; each data V&V stage provides a layer of data abstraction, value-added services, and authenticity based on Artificial Intelligence (AI). In addition, this proposed solution applies Distributed Ledger Technology (DLT) for a decentralised approach where each user keeps and maintains the data within a ledger. The presented model is validated in real data marketplace applications: 1) live data for the Newcastle Urban Observatory Smart City Project, where data are collected from sensors embedded within the smart city via APIs; 2) static data for University College London (UCL)—Real Estate—PEARL Project, where different project users and stakeholders introduce data into a Project Information Model (PIM).