A Blockchain-based Data Sharing Scheme using Attribute-Based Encryption and Fungible Tokens
Ashleen Daly, Gyu Myoung Lee, Nguyen B. Truong · 2024
Over the last few years, several serious data breaches have raised significant public awareness of data privacy and have motivated researchers to envisage novel data sharing and management schemes. Meanwhile, personal information is becoming a valuable commodity; however, the business model used by service providers rarely involves sharing the revenue made by selling personal data, with the individuals - the data owners. This paper proposes an alternative storage and data-sharing method leveraging Blockchain technology, Smart Contracts, and Attributed-based Encryption. Blockchain’s core features such as transparency and immutability of transactions are utilised to create a decentralised system that allows individuals to maintain control over their data and directly benefit from it. Smart contracts, integrated with Attribute-based encryption schemes, are leveraged to allow users to securely share their data in an automated process, enabling them to receive a fair share of revenue for allowing service providers to use their data.