Barrel facilitates the transaction between buyers and sellers of massive datasets. Barrel provides a protocol for creation of new Smart Data Types and Smart Contracts. Companies, apps and various services will be able to take part in the value generated by their data and can pass that value to their customers.Most important Barrel intends to provide a blockchain with built-in Privacy, Security and Compliance measures. These features are intended to ensure the anonymity of the data, protect it from hacking or breakage, and eliminate the high cost associated with the existing compliance process.Built-in Privacy by Design is an approach to systems engineering which takes privacy into account throughout the whole engineering process. Barrel Protocol extends this notion to include security, as well as compliance of the data.
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