A recent press release reports, “Ocean Protocol, the world’s first data sharing platform powered by blockchain technology connecting individuals, industries, startups, governments and data and AI experts, announces today the launch of its beta network. Ocean Protocol is a substrate that allows anyone to build data services and marketplaces on top and is launching with a mission to provide safe, privacy-preserving and borderless data sharing, to unlock the Data Economy. Ocean’s beta network paves the ground for a series of private and public partnerships from the research, insurance, retail and healthcare sectors to deploy their Proof of Concept solutions on the blockchain-enabled data-sharing platform. Existing collaborators include AI Singapore, Aviva, Unilever, Johnson & Johnson and Roche, all aiming at using Ocean Protocol to set standards and demonstrate how to share data safely and securely without compromising privacy or ownership.

The release goes on, “Though the world has been generating massive volumes of data, until now there has not been a safe, privacy-preserving and borderless solution to unlock the new Data Economy. Every day, the world creates 2.5 quintillion bytes of data and thanks to digitization and advances in IoT technologies, data continues to be generated in an unprecedented rate. However, only 1% of this glut of data is ever analyzed. Data supply and demand are currently disjointed. Data remains inaccessible – locked in silos and hardly shared. This is because data owners fear of losing control and violating privacy laws with data sharing. According to the recent Digital Reality Data Economy Report, many countries are only achieving about half of their current data economy potential. In the UK and Germany alone, research shows that there were approximately €140 billion of data-driven economic value not realized in 2016.”

Read more at PR Newswire.

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