The blockchain and AI, organization Ocean Protocol, declared it completed a pilot project with Mercedes-Benz parent Daimler for decentralized data exchange. Ocean Protocol is a decentralized data exchange protocol that allows enterprises to share data and monetize it. Companies have storehouses of data that they may want to share. For instance, if your company has analytics that shows specific user behavior, how does that metric vary from other companies experiences?
But your competitors wont want to share their information with you. Instead, your opponent lets you manage analytics or AI on their data purely to calculate the metric without the data leaving your control. They get to evaluate the algorithm first before utilizing their data to secure access is very limited. The third-party only has access to data for the calculation; it doesnt get to view the detail. Thats what Ocean Protocols Compute-to-Data solution provides.
Daimler South East Asia and Ocean Protocol ran a proof-of-concept project to trial the blockchain abilities for information exchange amongst internal and service associates. The trial tested onboarding, user authentication, and data sharing while assuring security and control over data. The association included utilizing all of Oceans solutions, including the blockchain network, data discovery, access control, decentralized storage, and the newly released Compute-to-Data.
The Decentralized data marketplace is an interesting proposition and gives us an exciting opportunity for aggregation of data with a clear compensation approach. Using Ocean Protocol, we want to implement this in a secure and transparent way, said Frank Schur, Senior Manager IT Technology & Cross Functions, Daimler Singapore in a statement.
Established in 2017, Ocean Protocol is associating with some big names, including dexFreight, the MOBI consortium, Roche, and Xprize, among others. Last year, the company collaborated with sgCarMart to create a utilized car data blockchain. Two weeks ago, Daimler declared that it would be operating with NVIDIA for an in-vehicle computing system for automated driving functionality. Meantime, Daimler has a handful of blockchain initiatives and is examining the technology for efficiency in business processes. Some of the projects involve a supply chain blockchain, a tokenization project with BBVA, and a car wallet. Daimler is a member of the Blockchain in Transport Alliance.
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