The patent proposes a solution that allows companies to stream data to marketplaces and to customers. It also proposes a marketplace where data sellers and buyers can transact for data in real time. These data streams can be combined with other data to make more sense.
Amazon has won a patent for a system that could help cryptocurrency traders and other users, as well as organizations, receive real-time crypto transaction data. The solution also establishes a streaming data marketplace where data streams would e sold and bought at the request or as desired.
In a nutshell, it would allow companies to provide data in streams to the marketplace and customers can subscribe to the channel to receive the data stream.
Such real-time data and alerts would facilitate the making of real-time decisions and also could drive recommendations.
Amazon said in the application that data streams aren’t valuable on their own. But customers can combine the received stream with other additional sources to add value. Customers can define rules for combining the data from the two or more sources. Then the customer can make available the combined data for further streaming to his or her own customers or for other use. For instance, a business can have a Bitcoin address that correlates to the shipping address. Later combines both to create correlated data and publish the data as a combined stream. For instance, companies might want to use these two sets of data to come up with a more sensible marketing strategy.
Regarding data selling and buying option, the description says that customers can request to buy streams. But also can decide which to buy by browsing the options before requesting to buy.
“The customer may purchase the streaming data by amounts, such as by the megabyte or gigabyte. For example, rather than purchasing the data for an amount of time (e.g., an hour, day, week, etc.). In other words, the amount of data may be purchased independently of a time within which the amount of the streaming data is received. The streaming data may be streamed to the customer in the amount purchased.”
For instance, with regard to data marketplaces, there are many solutions flying around from various companies. However, that is testing blockchain, especially in the marketing and advertising industry.
Amazon has also filed several patents for marketplace including “web site click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, metering data and so forth.”
With the said solution, governments can also subscribe to streams of data and correlate with other data. Such as the publicly available Bitcoin address transactions and then identify transaction participants.