After two years of development and meeting with over 200 major corporations to hone the offering and business model, data-curating company Terbine has officially launched its IoT Data Exchange.
Terbine’s IoT Data Exchange is designed to radically increase the rate of adoption for sharing of machine-generated Internet of Things (IoT) data between companies, public agencies and academic institutions. Traditionally, IoT data has been kept in silos that are not discoverable by the outside world, creating a tangle of thousands of one-to-one data-sharing agreements between organizations.
The IoT Data Exchange uses advanced metadata and blockchain technology to provide a trusted, traceable and searchable system for finding the data sources required for applications ranging from autonomous vehicle navigation to quantitative hedge fund analytics. Data providers can optionally monetize their data feeds at scale, something not available before.
Terbine is building the first global ecosystem for the exchanging of machine-generated/IoT data. The IoT Data Exchange is capable of characterizing, categorizing, licensing, monetizing, tracking, and securitizing the flow of potentially billions of IoT data feeds emanating from public agencies, commercial entities and academic sources.
Designed to make use of key advances in artificial intelligence (AI), blockchain, and edge computing, the Exchange features include: on-the-fly handling of data sourcing, searching, rights management, international transfers, tracking, monetization, and giving data providers complete control over who can see and retrieve their data.
Launching with over 700 data feeds from public agencies already encoded into the system, the Exchange is available for white-labeling to organizations desiring their own branded version.
At its Annual Meeting in June, ITS America (ITSA) announced that it was partnering with Terbine in a first-of-its-kind ITSA Data Exchange program. Initially being run as a free-to-use pilot, it was the first large-scale IoT data exchange available to the transportation and logistics sectors. The Terbine-powered ITSA Data Exchange was available exclusively to all ITS America members on a pilot basis for six months, during which there will be testing in areas such as traffic management, alignment of power industry resources with deployments of electrified vehicles, fleet and infrastructure insurance, and how to measure mobility and connectivity, as well as other smart city, smart grid and smart transportation applications. After the pilot period, members will be offered training to manage their machine-generated data flows via the Exchange.
“IoT data has been stored in silos and not made available outside of the organizations that generate it, except through very laborious one-to-one data sharing agreements,” explained David Knight, Terbine’s founder and CEO. “The IoT Data Exchange enables seamless discovery of data sources, while handling the core elements required to facilitate data-based commerce.”
At the Terbine-ITSA Data Exchange launch, ITS America’s president and CEO, Shailen Bhatt, said, “This is a tremendous new tool that will help our members save lives and improve mobility. Everyone talks about big data, but we need ‘big information’ to make a difference, and that’s what the Exchange will provide.”