OCEAN is the token of Ocean Protocol, which is a blockchain marketplace for tokenized data, “a new asset class” according to them. While not its intended purpose, it’s accepted by businesses around the world as payment, from an American web designer to a Vietnam-based online electronics store.
Who accepts OCEAN…
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Should you buy OCEAN?
The OCEAN token powers an ecosystem where data can be tokenized. Since its launch in 2019, OCEAN has grown in value, and they continue to secure high-level corporate partnerships with the likes of…
- The global renowned consulting firm Accenture, which uses Ocean Protocol to Maximize collaboration through secure data sharing.
- The European innovation accelerator Zühlke to push an Open Data Economy for Healthcare.
- The US-based dexFreight, with its omnichannel trucking data marketplace, to Enable Transportation and Logistics Companies to Monetize Data.
I’m sure you’ve heard that “data is the new oil” and big data is becoming a bigger and bigger business — tokenization of data is a predictable goldrush that you might want to get in on…
The Ocean Token
The OCEAN utility token is used to stake on data, govern community funding, and buy & sell data. Its supply is…
It holds the promise of making the data world a little fairer and more decentralized, giving back the public some control and ownership of their data, but it would seem that Ocean Protocol Team is already getting entangled with globalist institutions. The World Economic Forum gave them a “Technology Pioneer” award — will Ocean Protocol play a role in their schemes for us all to “own nothing and be happy?” Ocean Protocol also worked with the German central bank to develop a decentralized data autonomy platform, so (sorry libertarians and crypto purists) this is not the tokenized data marketplace you’re looking for.
About Ocean Protocol (OCEAN)
The Ocean Protocol Data is the most valuable digital resource on the planet but much of it remains unused and locked away. Ocean helps to unlock the data to drive AI. We build an ecosystem for the data economy with a tokenized service layer that securely exposes data, storage, compute, and algorithms for consumption.
Ocean Protocol is an on-ramp for data services into crypto ecosystems, using datatokens. Each datatoken is a fungible ERC20 token to access a given data service. Ocean smart contracts and libraries make it easy to publish data services (deploy and mint datatokens) and consume data services (spend datatokens). Ocean contracts run on Ethereum mainnet to start, with other deployments to follow. Ethereum composability enables crypto wallets as data wallets, crypto exchanges as data marketplaces, data DAOs as data co-ops, and more.
from the whitepaper Ocean Protocol: Tools for the Web3 Data Economy