Ocean Protocol is an ecosystem for the data economy and associated services. It provides a tokenized service layer that exposes data, storage, compute and algorithms for consumption with a set of deterministic proofs on availability and integrity that serve as verifiable service agreements. There is staking on services to signal quality, reputation and ward against Sybil Attacks.
Ocean helps to unlock data, particularly for AI. It is designed for scale and uses blockchain technology that allows data to be shared and sold in a safe, secure and transparent manner.
While vast amounts of data are generated each year, data exchange and analysis have been hampered due largely to concerns over trust and security. Currently, many organizations have data but do not have the trusted and secure means to share it. Without data, AI cannot advance and be applied to solve problems and ultimately improve lives. More pressing is the fact that today, only a handful of companies have both AI and data capacities, and if data remains locked up, these companies could very well govern the development of AI and thereby our future.
Through blockchain technology and tokens, Ocean Protocol connects data providers and consumers, allowing data to be shared while guaranteeing traceability, transparency, and trust for all stakeholders involved. Ocean Protocol is designed to give data owners control over their data assets and prevent them from being locked in to any single marketplace.
By bringing together decentralized blockchain technology, a data sharing framework, and an ecosystem for data and related services, Ocean Protocol is committed to kick-starting a new Data Economy that touches every single person, company and device, giving power back to data owners, enabling people to reap value from data to better our world.
Society is becoming increasingly reliant on data, especially with the advent of AI. However, a small handful of organizations with both massive data assets and AI capabilities attained worrying levels of control which is a danger to a free and open society.
Ocean Protocol aims to unlock data, for more equitable outcomes for users of data, using a thoughtful application of both technology and governance.
For more details, see the blog post ”Mission & Values for Ocean Protocol“.