FAME: Federated Decentralized Trusted Data Marketplace for Embedded Finance
We are delighted to announce the launch of our project FAME, co-funded by the European Commission. FAME is a joint effort of experts in data management, data technologies, the data economy, and digital finance to develop, deploy and launch the global market in a unique, trustworthy, energy-efficient, and secure federated data marketplace for Embedded Finance.
The FAME marketplace will alleviate the proclaimed limitations of centralized cloud marketplaces towards demonstrating the full potential of the data economy.
FAME’s developments will be integrated in a single federated data marketplace platform, which will become (openly and publicly) accessible based on OpenAPIs. The platform will be operational in a federated cloud environment with multiple providers of different types of data assets, including datasets, AI/ML models, analytical insights and more.
The project seeks to enhance a state-of-the-art data marketplace infrastructure (i.e., H2020 i3-Market marketplace) with novel functionalities in three complementary directions, namely:
1. Secure, interoperable, and regulatory compliant data exchanges across multiple federated cloudbased data providers in-line with EU initiatives including the EU Alliance for Industrial Data, Cloud & Edge, and the like.
2. Decentralised, programmable, data assets trading and pricing, leveraging blockchain tokenization techniques (including, support for accruing data assets value in NFTs).
3. Integration of trusted and Energy Efficient analytics based on novel technologies such as Quantitative Explainable AI, Situation Aware Explainability, incremental EE analytics and edge analytics.
The kick-off meeting of FAME took place on 15-16 March in Rome
Our firm is supporting to the development of the project’s social, legal, and ethical activities framework, including the project’s methodology for handling social science and gender issues. The framework will ensure the compliance of the project’s technologies to applicable laws and regulations (e.g., 4AML, PSD2, MiFIDII, GDPR), as well as to emerging regulations (e.g., AI regulation Act). It will also deal with issues like data sources specification and co-creation, identification of the environmental dimension of the research, and social impact assessment.
We will also help identify ethics and risks associated with the project’s technologies, along with guidelines to mitigate them. Next to the ethical, legal and regulatory compliance guidance and tools, we will also, among other activities, for instance help out with the Data Management Plan, help building the community and ecosystem plan and exploitation activities and sustainabilit planning.
FAME’s developments will be integrated in a single federated data marketplace platform, which will become (openly and publicly) accessible based on OpenAPIs. The platform will be operational in a federated cloud environment with multiple providers of different types of data assets, including datasets, AI/ML models, analytical insights and more.
FAME's Objective and Ambition is creating a:
A. Federated Marketplace
B. Unified Data & Security Policy Management for Federated Services
C. Federated Data Catalogues based on Semantic Interoperability of EmFi
D. Data Assets
E. Decentralized Programmble Data Assets Trading & Monetization (incl. Value Accrual in NFT)
F. Trusted, Privacy Friendly and Energy Efficient Analytics
G. FAME Training Programs & Learning Center
H. Novel Embedded Finance Use Cases
FAME will become operational in a federated cloud environment with multiple providers of data assets, including datasets, AI/ML models, and more. It will become interconnected with more than 12 data marketplaces that are operated by the project partners, as well as with other data infrastructures that will support the implementation of 7 pilots. Through this process, the catalogue of the FAME marketplace will be populated with a critical mass of 1000+ data assets.
FAME will establish a Learning Centre (LC) for tech and non-tech users, as this is a key prerequisite for unlocking the potential of the data economy. FAME will build a vibrant community of stakeholders around the FAME platform, which will serve as a catalyst for the sustainability of the project’s results.
For more information about FAME, feel welcome to visit FAME's LINKEDIN page and website. Underneath you find all the consortium partners involved in FAME.
We look forward to cooperating with all of you #FAME.
