Ocean Protocol is an interesting project. Its combining the vast amounts of data out there with AI and the blockchain.
Per Ocean modern society runs on data. AI extracts value from data. More data means more accurate AI models, which in turn benefits society and business.
Only the biggest companies like Google and Facebook have both data and AI expertise.
Ocean Protocol wants to equalize the opportunity to access data, so that a much broader range of AI practitioners can create value from it, and in turn spread the power of data.
Ocean wants to unlock data for AI. Its protocol is designed for scale and uses blockchain technology that allows data to be shared and sold in a safe, secure and transparent manner.
Ocean Protocol is the ecosystem for sharing data and associated services. It provides a tokenized service layer that exposes data, storage, compute and algorithms for use by the marketplace.
According to Ocean a multitude of data marketplaces can hook into its protocol to provide “last mile” services to connect data providers and consumers. Ocean Protocol is designed so that data owners cannot be locked-in to any single marketplace. The data owner controls each dataset.
Ocean uses a proofed curation market to ensure that users have a strong incentive to make available quality AI data and services. You can get the details from the white paper available on the website.
This is a joint project between BigchainDB and DEX. The founder of Ocean Protocol, Bruce Pon, is also the CEO at BigchainDB.
Ocean already did its token sale, selling out and raising just over $22 million. It looks like the token won’t be released until the network launch, expected in Q1 2019.
What do you think of Ocean Protocol?
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