Ocean Protocol, a decentralized data exchange platform, is on its way to taking down silos that lock up data globally. Data centers are currently lacking the possibility to utilize the true potential of the data they store, and thus, organizations around the world cannot access it and take advantage of a wide range of marketplaces and services that could benefit their businesses greatly. Ocean Protocol is right here to change this situation for the better by connecting data generators and buyers to unlock the data economy.
The platform has its native token, the OCEAN, which, according to the latest news, is already trading on Bittrex International, a global digital asset trading platform developed for international customers and built on Bittrex’s cutting-edge technology. Following the successful launch of the platform’s Initial Exchange Offering, that kicked off on 30th of April, the OCEAN token has been listed on the exchange as of 3rd May. Bittrex users, who have acquired the tokens during the IEO, can start trading right now, as the token was unlocked 2 hours after the closing of the IEO, which raised over $6,000,000.
Ocean Protocol is designed to bring together decentralized technology, a trust framework, and an ecosystem for data and related services. This creates a new data economy that allows for safe and secure data sharing without any physical borders. The platform guarantees traceability, transparency, and privacy, thus, enabling data owners to maintain control of their data assets and access a wide range of marketplaces and services. It even allows for the connecting of AI for true unleashing of billions of dollars worth of value stuck in the current data economy.
With the native OCEAN token, Ocean Protocol will allow the monetization of data and related services users could offer. All data transfers, processing and marketplaces built on top of the platform will allow exchange of monetary value through the OCEAN token.
Bruce Pon, the founder of Ocean Protocol was excited about the backers that took part in various rounds and said:
“It is rewarding to see the community get behind our vision for a new Data Economy and believing in Ocean Protocol. We are grateful to the 8,000 supporters from all our fundraising rounds who backed the project.”
The Ocean Protocol has already collaborated with some notable startups that are connected with the platform, showcasing users and other potential backers that the platform is privacy safe and secure. Aviva and ConnectedLife are in the list of firms that are using AI and advanced analytics on smart home devices’ data to help create a more better environment for the aged, helping them live a comfortable independent life in their advanced stage. Next Billion allows rural merchants to share their sales data and get rewarded. Roche Diagnostics is working on how to care of patients in blood thinning therapy.
The most impactful use is between AI Singapore and Ocean Protocol itself. Both organizations are joining hands to allow AIs and their owners to conduct next generation of data research, eventually bringing it into practical use. As Ocean Protocol grows, it will continue to offer more and more features, as Pon says:
“The Ocean Protocol team will continue to deliver software and network updates over the next two years, with five phases planned, each providing more sophisticated features, incentives and enhanced performance”.
Bittrex International is an asset trading platform that leverages the experience and advanced technology employed by Bittrex. Bittrex International, with its mission to be the leader in blockchain adoption worldwide, is an EU and Maltese regulation compliant platform that is built according to the rules set in the Malta Virtual Financial Assets Act. The international platform intends to become a regulated Virtual Financial Asset exchange under the guidance set by the Malta Financial Services Authority.