In 2016, the world produced 16 ZB of data, but only 1% was analyzed — this needs to change. A lack of trust prevents data sharing. Centralized data exchanges fail because they lack fair and flexible pricing mechanisms, data providers lose control over their assets, and there is a lack of transparency in how the data is used. So data remains locked up due to a lack of trust. AI advances six times faster when data is available. AI models have limited accuracy and usability without appropriate data. Ocean Protocol will unlock more data for AI. This should lead to more breakthroughs to help society. Ocean Protocol gives the tools to unlock the remaining 99% of untapped data. Only a handful of companies today have both Data and AI start-ups and researchers are drowning in algorithms, but lack data. The opposite is true for many large corporations. Ocean Protocol is the bridge between these two sides. By bringing together data and AI, Ocean Protocol will unlock a trillion-dollar market for data sharing.
Ocean Protocol is a decentralized data exchange protocol that lets people share and monetize data while guaranteeing control, auditability, transparency and compliance to all actors involved. Data Providers and Custodians need to feel safe before they will comfortably share data and Ocean Protocol is the solution. Ocean Protocol provides the underlying technical foundation that data marketplaces need to connect data providers with data consumers in a trusted environment. It nurtures a data ecosystem and community. Ocean Protocol also enables developers to create new and innovative services for leveraging data.