🌊 Ocean Protocol — Breaking up Big Data with DeFi

Can the core team and DAO unlock an ocean of value in private data? Their 2022 goal is 1→N 💪

Web1 and Web2 have produced an enormous amount of data, and Web3 will bring about a data flood as we’ve never seen before. That data contains trillions of dollars in value.

Why is data so valuable? Think healthcare, transportation, advertising, and the Metaverse.

It’s for that reason that you can’t do a job search without coming across buzzwords like “Big Data,” “Deep Learning,” or “Machine Learning.” Companies and investors understand there’s gold underneath those mountains of data.

In truth, we don’t even know how big the data economy has become, as it has come to encompass so many facets of our lives and the global economy. But for perspective, the European data market may have hit €739B in 2020.

However, most data out there (roughly 99%) is left unanalyzed, unfiltered, and locked in the vaults of data barons like Facebook and Google.

Worse, much of the data mined for value today is done under convoluted terms and conditions (e.g., social networks) and often compromised through widespread data breaches. In such cases, data is sold to the highest bidder without the data originator’s permission.

With advanced surveillance technology advancing rapidly, these unsettling trends will only speed up.