As AI becomes more popular, society is increasingly reliant on data. However, a small handful of organizations possess and controls massive amounts of our personal data, posing a threat to a free and open society.
Through the use of Web3 technology, Ocean Protocol aims to democratise data and level the playing field for AI - giving power back to people and researchers the data they need.
We are using Ocean Protocol technology to create new data driven business models - we call them DataUnions. With our tech stack on top of Ocean Protocol we can create confidential, collaborative data driven business models in many different data verticals. No other technology is on par with what Ocean offers.
The DataNFTs are a really, really awesome piece of technology - we use it to connect web2 and web3 effectively. Users authenticate with web3 identities, perform actions on chain, but the web2 APIs can then access this information and perform data interactions at web2 speeds while using web3 trust and immutability e.g. GDPR compliant data business models.
Compute-to-data is another component of the Ocean Protocol stack that really combines well with data handling and data usability. As the data does not have to leave its location, completely new data usage of private data is possible.
I have been using ocean protocol for the last 2 years.
Things I like:
- It is blockchain agnostic, so you are not limited to an L1/L2. Where data and value exchange go, ocean team will deploy there as well.
- Its focus is on data monetization and bringing it as an asset class, so anything else around data (storage, compute, modeling, etc) is up to the user to custom best solutions for them and use ocean's stack to tokenize and monetize the data.
- It has been the first protocol to start the conversation around data monetizaiton leveraging blockchain.
Things I used:
- dataNFT: Its just like NFT but you own the data asset which is access controlled using dataNFT.
- dataToken: A fungible token to provide wide range of access control for data assets.
- Compute2data: A privacy preserving docker where you can compute on data without any 3rd party.
