Ocean Protocol has recently launched V3 – featuring datatokens, Ocean Market and IDOs (Initial Data Offerings). In this virtual lecture, Bruce Pon, Ocean Protocol Founder, presents the Ocean V3’s main concepts and opportunities for the mobility sector.
Ocean V3 brings all the capabilities of data sharing in a Web3 native architecture that makes it easier for people to publish, auto-price, and sell their data. With V3, Ocean bridges the data industry to the decentralized finance industry, starting with a decentralized data exchange.
The core component of Ocean V3 is the datatoken. Datatokens are ERC20 tokens that represent both the value of the data asset and provide the access control to the data asset. The datatoken is the heart of Ocean V3, as it radically simplifies the user interaction for data sharing, while leveraging existing Web3 mental models for custody, wallets, liquidity, staking and farming.
Ocean Market is a data marketplace to sell, buy and curate quality data, built on decentralized blockchain technology. The publishing of a dataset as a tokenized data asset can be seen as an Initial Data Offering (IDO) because that tokenized asset can now be used within an existing DeFi infrastructure. The Ocean Market is the world’s first IDO Launchpad.
Bruce Pon is the Founder of BigchainDB and Ocean Protocol, blockchain startups focused on bringing data and AI together since 2013. Previously, Bruce co-founded Avantalion, a consulting firm that helped to build 20 banks around the globe for companies such as Mercedes-Benz, Volkswagen, Mitsubishi & Jaguar LandRover. He has an Advanced Executive Certificate from MITSloan, a B.Sc in Engineering from the University of Saskatchewan and has given guest lectures at Oxford, MIT Media Lab, Columbia University and the European School of Management & Technology.
In addition to being in the 2020 full-length documentary Cryptopia, Bruce was featured in Oxford University and Saïd Business School’s online Blockchain course as a guest expert.
Ocean Protocol is a decentralized data exchange protocol to unlock data for AI, launched in 2017.
Through blockchain technology and the OCEAN token, Ocean Protocol connects data providers and consumers, allowing data to be shared while guaranteeing traceability, transparency, and trust for all stakeholders involved. It allows data owners to give value to and have control over their data assets without 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.
In summer 2019, the production-ready mainnet Pacific Network was released, just four months after the delivery of the initial Nile beta network. Pacific Network features smart contract deployment on Ocean’s own Proof of Authority (PoA) network, ensuring a high-performance platform for data scientists. With the release of Pacific, Ocean Protocol is ready for the introduction of apps and integrations to facilitate the use of the protocol and grow the ecosystem. Released in May 2020, Ocean Compute-to-Data allows AI models to be trained on-premise, ensuring security and privacy for the data owner and minimizes the need to have trust amongst the different parties.