Shanghai Data Exchange leads the initiation of data trading chain construction

ChainCatcher news, according to China National Radio, the National Engineering Laboratory for Big Data Circulation and Trading Technology and the Shanghai Data Exchange have officially launched the construction of the first domestic data trading chain. Currently, the data trading system of the Shanghai Data Exchange has established six major business links: registration, listing, trading, delivery, clearing and settlement, and certificate issuance. By establishing a data trading chain and utilizing technologies such as blockchain notarization and smart contracts, these business links are made more secure, efficient, and transparent.

Before the transaction, data product registration and listing are achieved by setting basic information, price, and trading methods in the smart contract. During the transaction, by notarizing each transaction order, delivery information, and clearing and settlement information on-chain, both parties to the transaction can monitor the progress of the transaction process in real-time, ensuring the credibility and accuracy of the transaction. After the transaction, a transaction certificate is generated through the blockchain, and each certificate will be assigned a unique digital identifier, linking to the on-chain data of the entire transaction process, supporting the confirmation of transaction product rights, transaction supervision, and dispute resolution, etc. (Source link)