Ocean Protocol Boosts the Global Data Economy with Millions of Tokens

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Ocean Protocol Boosts the Global Data Economy with Millions of Tokens
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In order to once and for all tackle the menace facing the global data marketplace, such as network integration and a host of other tech-related issues, Ocean Protocol is setting up a 6-week challenge, that will see a host of hackers, developers, tech talents and enthusiasts come together for the greater good of the industry, and with a token reward of 3.4 million awaiting the participating teams.

To win the prize, the teams have to produce a working proof-of-concept on Ocean Protocol, under one of the following 3 tracks:

  • Wild Card Submission: Ability to fill in the blanks and boost the Ocean Protocol and its ecosystem to the next level and to highlight what can be built on the Ocean, which will contribute to a new data economy.
  • Data Marketplace: The team will have to prove they can help to kick-start a new data economy through the building of a robust data marketplace, which can help to connect data providers and consumers and also expose data, storage, compute and algorithm for consumption
  • Network Integration: This track involves using Ocean Protocol to help data scientists and unlock value from data. It might be whether for straight statistical analysis, machine learning modeling or visualization, a strong set of data science tools and services. This is essential because it’s important to find a practical solution for pressing industry and social related problems.

Although all participants are highly valued and appreciated, the reward will be split into three, with prizes going out to teams with the best three submissions.

The first-place winners in each track will receive 333,000 OCEAN tokens, while the second place will receive 270,000 OCEAN tokens, while also rewarding the third-place winners with 165,000 OCEAN Tokens.

Consolations prizes will also be available for teams with the fastest submissions, entries using data found on the Ocean Data Commons, and more.

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Although data is accessible to everybody, the dichotomy in the data and AI relations is causing a lot of tension, leaving only a handful of companies with a massive amount of data and expertise to be able to harness data to deliver powerful business value.

 In a bid to change the narrative and disrupt the status quo, OCEAN protocol brings together blockchain technology, smart contracts, tokens, a data sharing framework, and an ecosystem for data-related services to kick-start a new data ecosystem that touches every single person, company and device.

Commenting on the challenge, the founder of Ocean Protocol, Trent McConaghy stated that:

‘’ This journey cannot be completed by one organization or team; this is a journey for everyone.’’

The Ocean Global Economy Data challenge is the first step in the process of giving power back to data owners and also to enable people to reap value from data to better our world.

Interested participants are encouraged to register, as the registration is now open and submission starts September 16.

For more detail about Global Data Economy Challenge, see: https://oceanprotocol.com/challenge

Visit www.oceanprotocol.com to learn more about Ocean Protocol

Visit www.docs.oceanprotocol.com  to learn about the components of the Ocean Protocol software stack and how to use them

Visit www.datascience.oceanprotocol.com  to learn about the JupyterLab instance.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.