Madana (PAX)

What is Madana

Abstract: The MADANA – Market for Data Analysis – ecosystem empowers everyone to participate in the data market with their own data, while simultaneously preserving their privacy. The PAX token enables anyone to buy data analysis results from a decentralized pool of information while rewarding data producers and plug-in providers for their contribution. 

Individuals create signifcant amounts of data while using daily devices such as mobile phones, tablets, smart home devices, and computers. In most cases, data producers give up all rights of their data by agreeing to nontransparent terms and conditions. Data brokers sell this data to big corporations making substantial profts. The data producers are left without any control or proft. Currently, most of our data is stored in centralized servers, which are popular targets for hacker attacks, who gain access to sensitive information and leak it. The progress in global data protection policy is slow and the market for big data grows continuously. As the amount of breaches, leaks, and hacks is increasing severely, a new approach to handle data is needed. It is time to regain the control over our own digital identity.

MADANA is building an innovative data analysis market ecosystem based on the Lisk blockchain that allows data producers, data analysis buyers, and plug-in providers to become active in a fair, anonymous and privacy-protecting open data market. For the frst time in history, decentralization is bringing transparency, balanced value distribution, and effciency.

The MADANA ecosystem encompasses the following key elements:

Utilizing state-of-the-art technologies and blending them intelligently into a new ecosystem enables various applications and scenarios in data-driven industries while prioritizing data security and data privacy

Establishing the MADANA ecosystem will provide a durable basis for future expansion stages regarding market exploitation and increasing technological distinction. The business approach is long-term oriented and encloses key-partnerships in traditional industries and consulting companies as multipliers as well as technological differentiation. Thus, resulting in the fulfllment of MADANA’s novel potentials like Standardized Privacy Layer, Big Data Analysis Store,Background AI-training, Reputation Score, Data Privacy Certifcate, Data Model Standardization, GDPR-Compliance and Cross Analytics of Sensitive Data.