Data, as we know, is precious. It can also be said to be the most valuable asset right now. For context, estimations say that the global data economy is worth trillions of dollars; however, that data is locked in silos, abused and often gotten through unethical means.
Whenever we shop or access online platforms, we leave behind digital trails such as: credit card details, e-mail, shopping preferences, favorite brands, etc.
What do we get in return? Ads tailored precisely to our search history. Have you noticed after browsing for something online, let’s say a computer: suddenly we receive dozens of e-mails from online shops with ads of that computer we searched?
That used to bug me off in the beginning when I used to think someone was listening to everything I say (right!?), but it’s even more terrifying if all the information ends up in the wrong hands, exposing my privacy.
People already realize how bad third-party platforms manage our data, like the recent Facebook/Metaverse debacle. Recently [GDPR enforcer]( ruled that data collected through TCF are unlawful and have mandated Google, Microsoft, Amazon, and thousands of other companies to delete collated data. The ruling marked a big win towards a decentralized, open, transparent data economy.
Now, the big question: how does OCEAN Protocol unlock data amidst these privacy concerns?
OCEAN leverages blockchain technology to enable data owners and consumers to trade data securely while preserving privacy.
[Compute-to-Data]( services that can then use the DATA available on the [OCEAN Market]( to run complex computing jobs such as AI training algorithm research and more. At the same time, the premise of privacy remains intact.
Following the success of OCEAN v3 (Compute-to-Data) last year, attention is now turned to OCEAN v4 scheduled for release this Q1.
With the transition to V4, everything will operate decentralized, and all community funding will happen through the DAO (Decentralized Autonomous Organization) be made through the DAO, embodying the crypto vision of digital & unified democracy.