BrainChain is a decentralized marketplace on the Algorand blockchain that connects EEG data contributors with researchers and companies. The platform uses smart contract escrow to hold USDC payments until buyers verify and accept submitted datasets, ensuring secure and transparent transactions. Contributors retain 90% of earnings while the platform charges a 10% marketplace fee, with data encrypted and stored on IPFS.
Funding
Funding not disclosed
Founders
Product
Problem
Researchers and companies seeking EEG data for studies and product development face significant challenges in sourcing quality datasets, while individuals who generate brain data have no secure, transparent way to monetize it. Traditional data marketplaces lack trust mechanisms, leaving buyers uncertain about data quality and sellers unprotected against non-payment. This friction limits the availability of diverse EEG datasets and discourages data sharing.
Solution
BrainChain provides a decentralized marketplace built on the Algorand blockchain where researchers and companies can post data requests and EEG data contributors can fulfill them. The platform uses smart contract escrow to hold USDC payments until buyers verify and accept submitted datasets, ensuring fair compensation for sellers and quality assurance for buyers. Data is encrypted and stored on IPFS, with decryption keys transferred only after purchase initiation, maintaining security throughout the transaction. The marketplace operates on a trustless model where buyers review submissions on their own schedule, and payment is released automatically upon acceptance, creating an efficient and transparent exchange process.
Target Audience
Primary users are researchers, academic institutions, and companies in the neurotechnology and healthcare sectors seeking EEG datasets, as well as individuals who own EEG devices and want to monetize their brain data.
Features
- Smart contract escrow on Algorand that holds USDC payments until buyer verification and acceptance
- Encrypted data storage on IPFS with decryption key transfer only after purchase initiation
- Near-instant transactions with minimal fees on the Algorand blockchain
- 10% marketplace fee structure with contributors retaining 90% of earnings
- Request-based workflow where buyers define EEG data requirements and set budgets
- Pera Wallet integration for secure authentication and payment processing