UTU is delighted to joined forces with Ocean Protocol
UTU is excited to announce that they have formed a partnership with Ocean Protocol to launch their trust infrastructure on their blockchain and explore ways to share data between their platforms!
What is Ocean Protocol?
Ocean Protocol is an ecosystem that unlocks the value of data. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion. OCEAN holders stake liquidity to data pools. Developers use Ocean libraries to build their own data wallets, exchanges, and more.
How will UTU and Ocean work together?
The first way we will collaborate with Ocean Protocol is by launching UTU’s trust infrastructure for their data marketplace.
UTU’s artificial-intelligence-driven trust infrastructure can ingest the activity of data providers, data consumers, datasets, and other entities to build comprehensive profiles. Additionally, Ocean users will be able to rate and review each of these entities. All of this data will be dynamically analyzed to create a trust signal for each entity.
These are the components that we will build with Ocean on both Ethereum mainnet and Polygon:
- A standalone web app that rates Ocean data assets and accounts.
- A widget that incorporates our ratings directly into the Ocean Market.
- A curation engine that recommends the most relevant data assets and accounts to Ocean Market users.
- Updates to all of the above once Ocean v4 is released.
This will lead to increased platform trust and transparency, which will reduce friction in transactions, help users more easily discover quality datasets from trusted data providers to either use for data analysis or stake, avoid pool rug pulls and other malicious activity, and more.
Fees for software development and UTU API usage will be funded by the Ocean Protocol Foundation, and the bulk of the work will be completed by Q4 2021.
We will also explore ways to share data between our platforms in a privacy-preserving manner.
As you may know, the UTU protocol compensates you for providing accurate ratings and reviews and sharing your data with our platform. We will work with Ocean to make it easier for you to further monetize your data on Ocean Market by becoming a data provider. Of course, you will have full control over what data you share with our platforms, what data you would like to monetize, and how it should be used.
Additionally, we will explore other ways to share data between our protocols. This may include:
- Putting publicly-available, on-chain UTU data, such as endorsements, transactions, and more, on the Ocean Market.
- Purchasing datasets on the Ocean Market that may be helpful to the UTU protocol.
- Analysing who provided and consumed which datasets, and who provided liquidity on which datasets on Ocean (curation mechanism) to derive UTU recommendations / feedback.
Ocean Protocol’s mission is all about creating a trustless system for sharing data, so we’re very excited about our joint venture with UTU. It’ll allow good actors on Ocean Market to display the trust they’ve earnt in the marketplace, which in turn will incentivize others to trust those actors again and again – a virtuous cycle of transparency and trust without centralized intermediaries.
– Manan Patel, Growth Accelerator at Ocean Protocol
“UTU and Ocean Protocol share the beliefs that 1) data is a new asset class and 2) data privacy is of utmost importance. We’ve studied their data models in the past and are impressed by the ecosystem that they’ve built. This is why we’re so excited to partner with them to increase trust in their data marketplace and facilitate data sharing between our platforms in a privacy-preserving way. This partnership is particularly exciting for us as I remember Trent giving a small talk to our incubator cohort at Zeroth AI back in 2018 and thinking that an UTU-Ocean collaboration would be a massive validation and use case for our model – 3 years to come full circle on this.”
– Jason Eisen, Co-Founder and CEO of UTU
This partnership will significantly accelerate our product development for a perfect real-world use case. We are excited to work with Ocean Protocol on increasing trust in their data marketplace and advancing the data economy.
About Ocean Protocol
Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
About UTU
UTU is building the trust infrastructure of the internet to help businesses and consumers engage and transact in an easier, safer, and more trustworthy way.
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