25 Jul 2022 · 4 min read

Acentrik, a Decentralized Data Marketplace for Enterprises, Built on Ocean Protocol — is Now in Enterprise Release

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

SINGAPORE — Ocean Protocol, the Web3 platform to unlock data services for AI and business innovation, has joined forces with Acentrik, the decentralized data marketplace by Mercedes-Benz, on its recently launched Enterprise Release. Acentrik is a fork of Ocean Market and makes use of the OceanONDA V4 smart contracts and libraries. As part of the collaboration, the most important Ocean features have been leveraged and integrated into Acentrik V1.0 as well as key adaptations for enterprise users.

Acentrik’s collaboration with Ocean Protocol began in 2020, with a proof of concept exploring decentralized data orchestration for Mercedes-Benz. The pilot project was successful and this led to further collaboration and development of Acentrik Version 1.0.

Ocean founder, Bruce Pon:

“Acentrik is the result of two years of collaboration to help launch an enterprise data marketplace built on Ocean technology. We look forward to continuing to support Mercedes-Benz as they take ambitious steps to lead the pack and kickstart a Data Economy”.

Srikanth Kaja, General Manager of Emerging Technologies at Daimler South East Asia:

“Acentrik and Ocean have come a long way together — both teams have fostered a dynamic working relationship, which contributed to this successful collaboration. I’m excited to see what is in store in the near future, as we drive further topics to bring a much-needed decentralized data marketplace to enterprises today.”

Built on the foundation of Ocean’s state-of-the-art technology, Acentrik’s mission is to make it easier for enterprises to unlock the value of decentralized data and enable greater data sharing in the community with the principle of data sovereignty at the core. The focus will be on developing two strong use cases:

  1. To enable companies to buy and sell data over the blockchain
  2. To enable companies to monetize data in a privacy-preserving manner.

With Acentrik’s V1.0, enterprises can now publish datasets with parameters. By setting such API parameters, they can ensure more specific data is fetched from the endpoint. This allows for greater flexibility in publishing a dataset with Acentrik and setting boundaries accordingly — made possible by Ocean’s smart contracts, Compute-to-Data functionality and fine-grained permissions to better define access control.

Compute-to-Data

Compute-to-Data is a core feature of the Ocean toolset that enables Acentrik to meet the needs of enterprises interested in sharing and monetising their data on its marketplace. Enterprises want their IP to be protected, Compute-to-Data allows this by generating a secure environment for data to be analyzed — algorithms can run on the data without the raw data being exposed. This feature resolves the tradeoff between using private data and the risks of exposing it whilst creating new revenue streams. By running privacy-preserving compute jobs, enterprises can benefit from data transformation across industries, with data sovereignty intact in the Acentrik marketplace.

Fine-Grained Permissions

A large part of Ocean is about access control, of the decentralized variety. Enterprises and other users often need more precise ways to specify and manage access and to address that, Ocean introduced fine-grained permissions. Acentrik leverages this feature on two main levels to establish a secure access control setup for enterprise-grade use cases on its marketplace:

  1. Marketplace level restriction using role-based access controls — enterprises are empowered to grant different roles to multiple users belonging to the same enterprise to manage their assets well. There are three defined roles — user, provider and consumer. Roles are attached to both the user profile and the wallet connected. Depending on the preference of the enterprise administrator, a user can be granted multiple roles to satisfy their enterprise’s objectives.
  2. Asset level restrictions using allow and deny lists — enterprises can manage access controls for each asset published. Data owners have the flexibility to allow or deny access to their assets through their email domain and wallet address.

Asset Management Token

Fungible ERC20 datatokens previously integrated on the Acentrik marketplace were built on Ocean’s data sharing infrastructure that represent a license to consume datasets on the marketplace. With the launch of OceanONDA V4 and the introduction of ERC721 data NFTs, data management on Acentrik V1.0 has been made easier. Based on Ocean’s data NFTs, the Acentrik Asset Management Token functions to represent the ownership of an asset in the marketplace and support different licenses for the same base intellectual property.

Smart Contracts

The Acentrik Marketplace is driven by the OceanONDA V4 smart contracts and libraries that make it possible to publish data services, deploy and mint datatokens and Acentrik Asset Management Token, and consume data services by spending them. Acentrik V1.0 is launching on the Polygon network to ensure that customers experience cheap gas fees and fast transactions, this is one of the many EVM-compatible networks that the Ocean smart contracts are deployed to.

Now live in Enterprise Release, companies can onboard with Acentrik and experience the features of the marketplace.

To reach out to Acentrik’s team for collaboration opportunities, or to be involved in the product, you can reach their team here.

Explore more and register on Acentrik.

Social Links

Twitter: https://twitter.com/oceanprotocol

Linkedin: https://www.linkedin.com/company/ocean-protocol/mycompany/?viewAsMember=true

Media Contact

Brand: Ocean Protocol Foundation

Contact: Monica Botez, Chief Marketing Officer

E-mail: [email protected]

Website: https://oceanprotocol.com/

SOURCE: Ocean Protocol Foundation