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Ocean Protocol: AI Meets Blockchain Meets Big Data!! 🌊



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– TIMESTAMPS –
0:00 Intro
2:23 The Downside Ocean’s Tackling
7:16 What’s Flawed The Information Financial system?
9:04 The Tech
12:26 Ocean Token
15:14 Partnerships
16:37 Conclusion

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⛓️ πŸ”— Helpful Hyperlinks πŸ”— ⛓️

β–Ί European information market valued at €739 billion:
β–Ί Ocean Protocol enterprise technique & whitepaper:
β–Ί Google AI crushes Go grandmaster:
β–Ί Ocean token provide cap:
β–Ί Filecoin integration:

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❓What Issues Is Ocean Fixing❓

The worldwide information economic system is huge and enpasseses loads of completely different components like information era, assortment, storage, processing, distribution, evaluation and exploitation. How large, you would possibly ask? Nicely, a enjoyable European research estimates that its worth in Europe alone stands at a whopping €739 billion per 12 months.

These are usually not rookie numbers and it’s secure to say that the true worth of the whole world information economic system runs into the trillions of {dollars}.

Right here’s the issue; we’re making a staggering 289,000 gigabytes of knowledge each second and most of that’s being siloed by large tech corporations. The worst half is that only one% of that information is definitely getting used.

AI requires an astonishing quantity of knowledge to coach and the barrier to entry is fairly excessive. That’s why AI growth is just about restricted to some large tech giants and that limits the velocity of creating this tech.

πŸ’° Limitations of The Present Information Financial system πŸ’°

Tech giants are hoarding information and which means it’s laborious to attach drawback house owners to drawback solvers and giving them entry to the required instruments and assets.

A part of the problem is that some information is non-public and its holder may not wish to launch that into the wild. Mainly, what Ocean Protocol desires to do is to create a unified layer that connects these three pillars of the issue, resolution and information collectively.

That entails unlocking entry to non-public information and permitting folks to make use of it, with out it being left on the market within the public area. All that can allow information scientists to coach AI fashions.

βš™οΈ The Tech βš™οΈ

Briefly, Ocean Protocol is a decentralized Ethereum powered good contract platform working on proof-of-authority. This allows the secure sharing of knowledge and ensures cost to the info supplier, while guaranteeing management, auditability and transparency to everybody.

What this does is allow the creation of a two-sided information market the place delicate information can be utilized however not launched into the wild.

πŸ“ˆ Ocean Token πŸ“ˆ

The Ocean utility token is used because the unit of change for purchasing and promoting information, AI property and AI companies.

We will have a look at historical past to see how profitable marketplaces like AirBnB have been created. In a nutshell, it’s all about increase stock on the platform earlier than trying to purchase stock consumers.

Ocean is trying to just do that by incentivizing folks to offer and curate information on the platform and 51% of the whole provide of Ocean is devoted to that trigger.

Proper now, solely about 25% of Ocean’s remaining circulating provide has been launched. Meaning holders ought to count on fairly a little bit of inflation. Nevertheless, this does imply that the venture has a large warchest to incentivise information provision for the platform and if Ocean can safe even a fraction of the worldwide information market, then it is going to be rattling beneficial.

Oh sure, Ocean can be being thought of for a Coinbase itemizing. In order that may very well be some good brief time period information for the token.

🀝 Companions 🀝

Just lately, Ocean has accomplished its integration with Filecoin and that implies that the venture boasts all of Filecoin’s decentralized cloud storage capabilities.

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πŸ“œ Disclaimer πŸ“œ

The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who just isn’t a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable threat of loss. The speaker doesn’t assure any explicit end result.

#oceanprotocol #Ocean #crypto #ethereum #bigdata #fb

Source: Coin Bureau

20 Responses

  1. Dear Guy, great research indeed as I expected from you. Have you seen the integration of Ocean Protocol with Daimler, MOBI, ROCHE and many others. Seems like the project is taking off almost a year after you shoot this video. Do you think it is about the time to recap this project for us? Cheers,

  2. A very interesting concept that could become huge if all the pieces come together. I work as an data engineer and I would never have thought of such a platform. It's bloody brilliant. Yes, there are many hurdles like invisibility of data quality for instance. But if a trusted data provider takes care of such problems and supplies ready to be used data, then the future might be very bright. It is definitely worth a gamble…

  3. Great analyse, tks Guy! I see that Ocean heve a partneship with SingularityNET. I think tha SingularityNET is a layer where all the protocols that have AI can work better, but is dificult to understand. I will apreciate a lot if you do a video axplaining SingularityNET. Tks for your excelent work.

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