Weconet Data Common

The Accenture Technology Vision report 2018 shows that around 30% of the costs of companies is spend on checking other databases to get an answer to a question. The Weconet Data Common is the basis of a digital assembly line and enables organizations to become more productive, ensure privacy and balance the power between humans and their tools (such as companies). With a data common, organizations can work smarter together without the burden of organization silos and walls, partnership frictions, GDPR, vendor lockin and markets with high transaction costs. The most important principle for the Weconet Data Common is: data entry and maintenance in one place and provide access (via a token) to this data. So not organizing data ownership is important but organizing access to data is the basis of the blockchain-based digital assembly line.

If we want to improve our productivity, privacy and power balance we’ll need to organize supply and demand of data with new principles. A human connected to a tool (for example me and my laptop), is already organizing capability and therefore an organization. Organizations that work smart together can connect and disconnect with other organizations. Humans and tool work smart together in communities when they are connected to a shared information and transaction network that is connected to a general data utility and works with blockchain technology. Weconet Data Common is based on profile -> connect  -> collaborate principles. A data common uses principles such as openness, sharing, crowd sourcing, crowdfunding, and direct communication without agents.

The basic principle of a shared information and transaction network is thinking without organization walls and non transparent markets. Customers have their own portal, to search and transact products and services, while suppliers only need to maintain data in one place. It is no longer about data ownership but data accessibility. Through the network, transactions can be processed from supply to demand and all community partners can use the same transaction network where applications or apps transform (transaction) data into information.

Weconet Technologies builds a ‘new’ internet with reliable, meaningful and secured data. Information is produced and shared through a data connector and ‘data socket’, connected to a general data utility. A kind of power grid for basic attributes such as date of birth, address, price and supplier. When transaction data is kept in the ledger of seller and buyer, they can also choose to connect to a trust service, with which transaction data can be stored on multiple nodes of the network (Trust as a Service). In case of a dispute they can ‘call’ this service.

The general data utility contains data that are used by multiple domains and needs to be maintained in one place. Access to basic data, is provided via a data socket (if you have the appropriate privileges). This process is as simple as access to electricity. Through an application (for example a portal), data can be easily converted into information, like a television converts power into images, a keyboard converts power into all kinds of sounds and a blender converts power into movements. It would be weird if we all would have. different power sockets for television, keyboard and blender in our homes.

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