Paiz Network is launching a data marketplace for price feeds in real estate
Pit Networks, the provider of the blockchain data oracle, is developing a platform that allows financial institutions to publish and monetize their market data on blockchain networks.
Paiz's data marketplace will initially support data sets for spot foreign exchange markets (FX), precious metals and crude oil exchanges, allowing publishers to retain “full control” over the data they share, according to Thursday's announcement.
Seven new institutional data providers will publish price feeds on the market, the announcement said.
These include stock exchange Euronext, data provider Exchange Data International, asset manager Fidelity Investments, financial exchange OTC Markets Group, Singapore Exchange FX and the Trade Web trading platform.
The announcement reflects how blockchain technology will democratize access to financial data, which has traditionally been the domain of a handful of service providers who charge high fees for high-quality market price data.
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Pit to allow clients to “pull” data instead of the traditional “push”.
Paiz's DataPut model allows customers to pay for marketing data on demand, rather than Oracle's traditional push-based models that force users to pay for entire data sets, which they may or may not need.
This reduces costs for the end user, says Michael James, Head of Institutional Business Development at Douro Labs, the main developer behind the Paiz network.
Traditional service providers will monopolize the $50 billion financial information industry, James told Cointelegraph at Consensus 2025. That is now being challenged by new emerging blockchain alternatives like Pit and Chainlink.
“These data providers have no competition in traditional finance, and therefore have all the pricing power in the world,” he said.
Banks, hedge funds, businesses and other financial institutions are forced to purchase this financial information for “compliance” reasons, James added.
By August 2025, the US Department of Commerce has selected Piez and blockchain oracle provider Chainlink to publish economic data onchain.
Paiz has chosen to publish its first quarterly gross domestic product (GDP) data, including five years of historical GDP figures, according to an earlier announcement from the Oracle supplier.
However, Pitt expects to add support for more government economic data sets in the future.
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