Data will be the most important asset class of the twenty-first century. Governments globally are jostling to establish themselves as world leaders in data and advanced technologies such as artificial intelligence (AI) and machine learning (ML).
The single biggest barrier to the proliferation of AI and ML systems is the availability of sufficiently large, high-quality datasets upon which to train them. Datasets currently often reside in siloes and vary in quality. Unlocking the latent value in these datasets represents a significant opportunity for economic growth and innovation.
The MDRxTECH team worked closely with the Abu Dhabi Digital Authority (ADDA) to design a blockchain-based data marketplace that enables a secure, trusted data exchange mechanism between government entities in the Emirate and private sector actors. By working with MDRxTECH, ADDA was empowered to innovate with full confidence that its platform would be legally compliant by design and adhered to the highest standards of data ethics.
ADDA’s data marketplace project is aligned to the UAE Government’s strategic goal and furthers the Emirate of Abu Dhabi’s technology credentials. The data marketplace also fulfils ADDA’s blockchain toolkit principles that promote interoperability and scalability, by incorporating a sophisticated abstraction layer that interacts with disparate blockchain and non-blockchain platforms.
ADDA’s exciting data marketplace project was announced as part of the UAE Government’s presentation at the 2020 World Economic Forum in Davos, in collaboration with the Dubai Future Foundations. A link to the full presentation materials can be found here.