GXS or GX Shares is a blockchain based data exchange platform built on alliance chain based blockchain network which allows secure, private and auditable data exchange between entities or entities and individuals.
GXB Data exchange help data exchange between financial enterprises, government organization, credit companies, big data companies, Insurance companies. GXB with its block chain based technology. It also provides credit verification services based on blockchain.
GXB data exchange helps maintain privacy, data copyright protection and traceability of data and ensuring no caching of data on the network. GXB helps solve the problem of Data precipitation which is the common problem with current non-blockchain based data exchanges. Where data is disseminated through APIs through different data agencies who keep caching data and creating large cached data resources which then gets sold in many unauthorized ways.
GXB data exchange has essentially 2 kinds of data platforms
1. Free Market
This is for data which is freely available to most people and once the price is set up GXB facilitates the transaction. Data Merchants can set up blacklist if they want to curtail certain entities to not access the data
2. Alliance Market
These are private groups or alliances which can exchange data amongst themselves. So similar data providers and consumers can become part of the alliance .Members will only exchange date amongst themselves. Pricing and commercials are negotiated within the alliance members and GXB platform
GXB coin is the token or currency used to settle data exchange transactions on the GXB network. Here is the breakup of GXB token distribution
· Total Supply : 100,000,000
· Circulating Supply : 40,510,000
· ICO Amount : 24,510,000
· Private-equity distributed amount : 10,000,000
· GXB foundation: 51,000,000
1. Decentralized Credit bureau which also takes care of customer consent in case any of your personal data is used.
2. Data exchange built on blockchain ensures privacy as well as traceability of data so there is no unauthorised use of data happens. Ensuring sanctity of data is maintained
3. Alliance platform allows for private data sharing networks to be created enabling smoother date sharing and easier commercial negotiations
4. P2P data transfers without any intermediaries thus the traditional agency based model of data dissemination is thrown out of the window.
5. Anonymous authentication between data parties so as to maintain anonymity for data consumers .
6. Proof of credit share mechanism to enable a level playing field between various big and small data players.
7. Digital copyright authentication : GXB allows for Digital copyright authentication through Digital proof of ownership developed by GXB so you cannot resell data which you do not own and hence solves the problem of data precipitation
8. Personal data privacy protection through a mechanism of individual consent before sharing that data
9. Protection of Data Fraud by enabling access thresholds, individual checks and ability to report and redress fraudulent usage of data.