Blockchain & Bitcoin Conference that took place in Berlin on April 4th drew industry experts and enthusiasts who shared their knowledge and vision, discussed current challenges and pitched ideas on promising ICOs.
One project that stood out in particular was that of Ocean Protocol, a decentralized data exchange protocol that aims at unlocking data for AI.
In a nutshell, Ocean Protocol is an ecosystem for sharing data and associated services. It provides a tokenized service layer that exposes data, storage, compution and algorithms for consumption with a set of deterministic proofs on availability and integrity that serve as verifiable service agreements.
Ocean Protocol helps to make data available, particularly for AI. It is designed to be scaled and uses blockchain technology allowing data to be shared and sold in a safe, secure and transparent manner.
As an ecosystem composed of data assets and services, Ocean Protocol facilitates discovery by storing and promoting metadata, connecting assets and services, and provides a licensing framework with software tools for pricing.
Numerous data marketplaces can hook into Ocean Protocol to provide services linking data providers and consumers. Ocean Protocol is designed in a way that data owners are not locked in a single marketplace, the data owner controls every dataset.
As concentrated number of organizations controlling massive data assets and AI capabilities grow more powerful, there’s a danger to a free and open society.
Ocean Protocol’s goal to unlock data tries to set a level playing field for participants, implementing the right set of both technology and governance.