What is Ocean Protocol (OCEAN)?

Ocean Protocol is a decentralized network whose technology allows people to have full control over who accesses their data and ensures that they are rewarded for what they share. It opens up data access, connecting supply to demand, and knowing that ownership and data privacy is not compromised, people will have the confidence to share with ease.

Founded in 2017, Ocean Protocol connects data providers and consumers using blockchain technology and allows private data to be shared and monetized without compromising control or security for the data owner, while ensuring traceability, transparency, and trust for all stakeholders involved.

Ocean’s ERC20 datatokens wrap access to data, allowing users to reuse crypto wallets as data wallets, DEXes as data exchanges, data DAOs, and more. We look forward to working more closely with industry leaders to grow the DeFi ecosystem and bring more opportunities to more people.

Ocean Protocol taps into the valuable commodity of data and tokenizes its access using blockchain technology—thereby creating new liquidity. 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.

Ocean data tokens turn data into data assets and also enable data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other DeFi tools. 

The Ocean token is used to stake on data, govern Ocean Protocol’s community funding, and buy and sell data. Its supply is disbursed over time to drive near-term growth and long-term sustainability. OCEAN is designed to increase with a rise in usage volume.

 

Who are the founders of Ocean Protocol (OCEAN)?

The entire team of Ocean Protocol is made up of sector specialists and business-savvy entrepreneurs with an impressive pedigree in AI, blockchain, and Big Data. The three founders of the project have established over 10 projects and companies; hence, they have enough knowledge and skills to execute any startup.

Trent McConaghy is one of the founders and has been working in the field of artificial intelligence for over 20 years, and serves as an advisor to numerous top governments on AI & blockchain strategies. 

Bruce Pon is also one of the founders of Ocean Protocol and is an MIT graduate who worked at Daimler (Mercedes Benz) and established a thriving company that has built banks & financial services in 15 countries across the globe. 

Daryl Arnold is a prolific founder and global entrepreneur, with rich experience in data, marketing, technology, and sustainability.

Apart from the three founders, other industrious workers have contributed actively to the development and success of the team. Dimitri De Jonghe heads the research team at Ocean and has founded 3x bleeding tech blockchain start-ups. 

The Head of Product, Don Gossen, has spent over 10 years as a data and analytics expert with extensive experience working on four different continents, and Marketing Director Cristina Cenuse is a 3x founder with 15 years of experience in Marketing & Advertising across international markets, with global brands. 

 

What is Ocean Protocol (OCEAN) used for?

Unlock data

Ocean protocol aims to make data more accessible to a broader range of people & organizations. They intend to provide more opportunities to maximize the latent potential of the data.

Spread of power 

Ocean Protocol will serve as a tool for transparent governance for democratic ideals and will help decouple capital from governance.

Spread of value

It serves as a tool to spread wealth creation among the community as rewards are based on actions consistent with values. It will also discourage speculation and encourage the building of the community.

 

How is Ocean Protocol (OCEAN) unique?

Ocean Protocol aims to reveal the data economy by opening data access in a way that works for everyone. They want to connect data creators and providers with data consumers through an environment that’s secure, trusted, and fair. With Ocean Protocol, users can start to have data markets form where the value of the data can be much lower, and with any party without the need for existing trustworthy relationships.

Unlike many technology projects, Ocean Protocol does not focus on the technology, but on the difference, they stand to make. From the very start, they have been working hand in hand with the Singapore government (IMDA) and other key partners such as AI Singapore and PwC to develop a framework for the safe and secure exchange of data.

In addition, they are also collaborating with a range of companies, innovative start-ups, and enablers to multinationals like DCI, Emporio, Next Billion, ConnectedLife, Padang & Co, SG Innovate, Aviva, Roche, and Johnson & Johnson, so that Ocean is front of mind when it comes to data sharing and AI advancement.

 

How is the Ocean Protocol network secured? 

Ocean Protocol is well secured as every process is digitized and governed by smart contracts that allow data owners to program the conditions of access, which are then executed with perfect precision. This gives data owners and buyers transparency, security, and guarantees of payment and use. Ocean Protocol also allows algorithms and models to travel to the data, get trained, and then leave without exposing the data or taking a copy. This gives data owners the confidence to share their data and to set tangible value for their data assets.

 

How do I buy Ocean Protocol (OCEAN)?

The OCEAN token can be used for a wide range of uses like staking and data collection.

OCEAN tokens can be easily purchased by the following steps. 

* Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy OCEAN through your trading account.

 

Which Cryptocurrency Wallet Supports Ocean Protocol (OCEAN)?

The PTPWallet platform supports many cryptocurrencies simultaneously, such as Ocean Protocol (OCEAN). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their OCEAN wallet because it offers a simple interactive interface, making it easy for people to navigate its system.

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