Review on Ocean Protocol by Robiul Islam
A Decentralized Data Exchange Protocol to Unlock Data for AI.
The Ocean Protocol.
Ocean Protocol builds the infrastructure to allow data to be shared, consumed and monetized in a safe and transparent manner. At the core of Ocean, there are so called Curated Proof Markets. They are the foundation for an open data marketplace which brings together data providers, data consumers and service providers, giving them the opportunity to safely buy and sell data. It allows AI algorithms and models to be applied to data, get trained, and then leave without exposing the data or taking a copy. This gives data owners comfort to share their data, without compromising on security.
Market Potential.
Artificial Intelligence represents one of the most data-hungry research fields in technology, focusing on breaking down barriers and enabling technological progress in this field, is a suitable strategic proposition, for a young startup, trying to tackle a huge overall industry, from my perspective.
Strategic Partners.
One of the most convincing aspects about Ocean Protocol is the number of partnerships, they managed to collect some wonderful partnerships such as IBM Watson AI, Engima, and many more. It is actively building use cases on their network, in areas such as smart living (Government of Singapore) and Health Data (Roche Diagnostics and the Thai Ministry of Health).
Ocean Protocol Team.
They have a strong technical background in Blockchain and AI, additionally, founder Bruce Pon has a strong background in Entrepreneurship. Ocean has one of the largest and most diverse teams we have seen in this space.
Ocean Project has the potential to succeed and truly establish the next generation of Big Data infrastructure. Innovative technological ideas and a highly skilled team with favorable industry connections make have laid the groundworks for Ocean Protocol to succeed in the future.
Pros
- Ocean Protocol aims to solve critical issues of current data exchanges and therefore break down the barriers and data silos that are holding back innovation in fields like Artificial Intelligence.
- Targeting a huge growing market, that is ripe for disruption.
- Already working on a number of use cases with business clients and governments around the world.
- Users can earn tokens by providing data, by providing a marketplace, by curating data, by providing services to the network.
Cons
- It is entering a market where many centralized solutions already exist.
- I can't find any major concerns about Ocean Protocol.
