Data and Value Production & Exchange
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NuNet Whitepaper
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Inputs and outputs of computational processes are data, whereas data has its own inherent value. The value of data, however, is not absolute, but instead relative to what other participants of the ecosystem (i.e. computational processes) can do with it and how they value it with respect to the ecosystem’s dynamics. Data’s value, broadly speaking, is context-dependent and is subject to negotiations between providers and requesters. Entities can value static data (e.g. stored in a database) or dynamic data (e.g. real-time streaming) that is time sensitive, private, or public, and useful in either broad or very specific contexts. Also, it is important to keep in mind that data has associated costs - production, storage, analysis, and transformation. As these costs become more transparent, specific solutions can be designed for various stages of the data creation/analysis life-cycle and these open and collaborative efforts could likely result in the reduction of transactional data costs and the ability to deliver improved insights. Transparent, secure, and efficient matching of all data forms to the immediate requirements of societal, business, government, and individual processes will tap into the enormous economic potential of the data economy, which for the time being is still waiting to be unlocked.
NuNet provides tools for the economic exchange and sharing of data (which may be, but is not necessarily free). Note, that in a computational workflow data can be very specific and time-sensitive, i.e. produced purposefully for the next process, and by converting input data to output data, agents produce value which they can then exchange with other agents on the basis of a tokenomic mechanism. Since the value of data is different for different agents, NuNet enables a decentralized value exchange mechanism, based on, but not limited to, pairwise negotiations and contracts between computational agents. NuNet’s tokenomic mechanism will also enable solutions for tamper-proof traceability of resource consumption, data provenance, and vendor-consumer relations. It will provide the basis for enabling companies and customers to accurately trace and manage their spending and decentralized partnerships.