Information is power in today’s world. With data being generated constantly, it has become one of the most valued commodities globally. From the immense data generated by a government, to an individual whose smart phone records its owner’s movements, everything and everyone today is a…
Information is power in today’s world. With data being generated constantly, it has become one of the most valued commodities globally. From the immense data generated by a government, to an individual whose smart phone records its owner’s movements, everything and everyone today is a data generator and a data consumer. With estimated data production of 1.7 MB by every person on the planet by 2020, the market is certainly growing.
Even with so much data generated constantly, there are two interdependent, major issues today that prevent mankind from accessing the true potential of information:
Ocean Protocol is a data sharing framework based on blockchain that is creating a new data economy. The Ocean Protocol allows data owners and buyers to interact with each other directly, breaking down the walls that have kept them apart till now. Ensuring that the data is truly the ownership of the ones generating it, people and organizations have total control over their data and how they would like it to be used by other parties.
Bruce Pon, cofounder of Ocean Protocol, said, “With Ocean Protocol, people with data can be connected with people who need data. This is the start of a new data economy and Ocean is the means to promote liquidity and ultimately a financial value for data”
The use of blockchain means that data shared is secure and is directly done between data generator and consumer, without any middleman taking a huge commission. The protocol allows different data marketplaces to connect with its ecosystem, thereby giving data owners and buyers the freedom to move between different markets and obtain their preferred data/monetization of data.
Following the successful token generation event last March that raised over USD 1,800,000, Ocean Protocol has teamed up with globally renowned crypto exchange BIttrex for its Initial Exchange Offering (IEO). Ocean Protocol and its OCEAN tokens went through a series of tests and audits by the exchange that included technical, regulatory and compliance checks. Traders at the exchange will be offered to back the Ocean Protocol by directly funding OCEAN tokens.
The IEO will commence on 30th April at 1600 GMT and traders will be able to acquire OCEAN tokens through BTC.
For more information on the data economy changer, visit its website.
This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.
Last modified: January 14, 2020 1:56 PM UTC