{"id":3845,"date":"2017-02-26T10:42:07","date_gmt":"2017-02-26T15:42:07","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-digit\/submission\/gxb-a-blockchain-based-decentralized-data-exchange-platform\/"},"modified":"2017-02-26T13:02:23","modified_gmt":"2017-02-26T18:02:23","slug":"gxb-a-blockchain-based-decentralized-data-exchange-platform","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-digit\/submission\/gxb-a-blockchain-based-decentralized-data-exchange-platform\/","title":{"rendered":"GXB: a blockchain-based decentralized data exchange platform"},"content":{"rendered":"

Gongxinbao (GXB), a start-up in China, provides a trustworthy and consumer-centric marketplace for data exchange through building a blockchain-based decentralized platform. Will\u00a0this adoption of new technology allow GXB defeat other incumbents in the platform market? Can GXB\u2019s business model solve issues that currently hinder the growth of data exchange market?<\/p>\n

Background<\/b><\/p>\n

In recent years, as China shifted its strategy to boost growth through consumption, consumer finance market has been booming and is projected to reach $5.75 trillion by 2019[1]. Since consumer finance market relies on data to estimate risk, this new trend results in a huge demand for consumers\u2019 personal information. While China\u2019s credit report system is still in its infancy, this gives rise to data exchange market.<\/p>\n

In GXB\u2019s opinion, the main challenges of current data exchange market are:<\/p>\n