Nairobi, Kenya, June 21, 2021 – UTU, a decentralized trust infrastructure provider building new models of digital trust via artificial intelligence and blockchain, has partnered with Ocean Protocol to launch its trust infrastructure on the Ocean Market data marketplace, and explore ways to share data.
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.
UTU’s artificial-intelligence-driven trust infrastructure will ingest the activity of data providers, data consumers, datasets, and other entities to build comprehensive trust 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.
This will lead to increased trust and transparency for Ocean Market, 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.
“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,” Manan Patel, Ocean’s Growth Accelerator noted. “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.”
Jason Eisen, UTU’s Co-founder and CEO, agreed: “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.”
He added: “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.”
In addition, the UTU protocol compensates users for providing accurate ratings and reviews while sharing their data in a privacy-preserving way. Working with Ocean will make it easier for UTU users to further monetize their data on Ocean Market by becoming data providers. Users will have full control over the data they share, what data they prefer to monetize, and how it will be used.
UTU and Ocean will also explore ways to share data between their protocols, including putting publicly-available, on-chain UTU data, such as endorsements, on the Ocean Market, purchasing datasets on the Ocean Market that may be helpful to the UTU protocol and analysing datasets to derive UTU recommendations and feedback.
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.
Our AI-based API products collect and analyze data to create trust signals and personalized recommendations that help consumers and businesses make the best decisions for their situation. And the UTU blockchain protocol rewards users for trustworthy actions and compensates them for sharing their data while protecting their privacy.
UTU changes the economics of trust, ensures trust can’t be bought or manipulated, and leverages data to help people make better decisions.
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.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.
Ocean datatokens turn data into data assets. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other DeFi tools. Projects use Ocean libraries and OCEAN in their own apps to help drive the Web3 Data Economy.
The Ocean token is used to stake on data, to govern Ocean Protocol’s community funding, and to buy & 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.
Visit oceanprotocol.com to find out more.
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