Blockchain
Ocean Protocol blockchain-based platform launches beta to kick-start a new Data Economy with safe, privacy-preserving and borderless data sharing
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Ocean Protocol, the world’s first data sharing platform powered by blockchain technology connecting individuals, industries, startups, governments and data and AI experts, announces today the launch of its beta network. Ocean Protocol is a substrate that allows anyone to build data services and marketplaces on top and is launching with a mission to provide safe, privacy-preserving and borderless data sharing, to unlock the Data Economy.
Ocean’s beta network paves the ground for a series of private and public partnerships from the research, insurance, retail and healthcare sectors to deploy their Proof of Concept solutions on the blockchain-enabled data-sharing platform. Existing collaborators include AI Singapore, Aviva, Unilever, Johnson & Johnson and Roche, all aiming at using Ocean Protocol to set standards and demonstrate how to share data safely and securely without compromising privacy or ownership.
“Today’s beta release is a big milestone for our project and society as a whole. It marks the beginning of a new and open global Data Economy. With the beta network going live, data scientists and developers can start building and experimenting with new services and applications using Ocean Protocol,” said Bruce Pon, co-founder of Ocean Protocol.
Though the world has been generating massive volumes of data, until now there has not been a safe, privacy-preserving and borderless solution to unlock the new Data Economy. Every day, the world creates 2.5 quintillion bytes of data[1] and thanks to digitization and advances in IoT technologies, data continues to be generated in an unprecedented rate. However, only 1% of this glut of data is ever analyzed.[2,3] Data supply and demand are currently disjointed. Data remains inaccessible — locked in silos and hardly shared. This is because data owners fear of losing control and violating privacy laws with data sharing.
According to the recent Digital Reality Data Economy Report,[4] many countries are only achieving about half of their current data economy potential. In the UK and Germany alone, research shows that there were approximately EUR140 billion of data-driven economic value not realized in 2016.
Ocean Protocol uses blockchain technology, smart contracts, and tokens to enable safe and secure sharing of data, guaranteeing control and auditability while protecting privacy. The technology allows organizations and individuals to set pricing and trade data without losing control of their data assets. Smart contracts allow data owners to program the conditions of access, which are then executed with precision. This gives data owners and buyers transparency, security and guarantees of payment and use.
Ocean also enables algorithms and models to travel to the data, get trained and then leave without exposing the data or taking a copy, thereby retaining privacy, ensuring regulatory compliance, and freeing up data to advance AI and solve problems for the economy and society.
“Ocean allows people to unlock the value of data without necessarily unlocking the data itself. It is a substrate to finally realize the potential of an open permission-less data economy while still preserving privacy,” said Trent McConaghy, co-founder of Ocean Protocol. “We welcome early collaborators already deploying their solutions on our network today, and we look forward to seeing tens, hundreds, even thousands of other marketplaces and applications to be built on top of Ocean, so that data can be freed from their existing silos to deliver world-changing solutions for many verticals including automotive, energy, healthcare and so on.”
Ocean Protocol is an open source project. Developers from around the world can run Ocean’s full stack and connect to the Ocean beta network. Data Scientists and engineers can leverage the underlying Ocean API to search, publish, and consume data assets in the Ocean Protocol network. They can initiate personal JupyterLab instances running in local browsers, with Ocean Protocol pre-configured. Coupled with the launch is a reference marketplace for free and public data, to serve as a meeting point for public health, sustainability and environmental use cases.
“Data and AI related service providers can use Ocean as a launchpad offering relevant services to data providers and consumers. In addition, Ocean gives data and AI professionals a means to monetize their findings and models,” McConaghy added.
The Ocean network will continue to deliver software and network updates over the next two years, with five phases planned, each providing more sophisticated features, incentives and enhanced performance.
SOURCE Ocean Protocol
The anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to stir anxiety within the cryptocurrency market. This significant influx of Bitcoin, which has been tied up since the collapse of the Mt. Gox exchange in 2014, raises questions about its potential impact on market dynamics and investor sentiment.
The return of these long-dormant Bitcoin holdings may lead to increased volatility and uncertainty in the cryptocurrency market. Market participants are likely to closely monitor the movement of these funds and assess their potential impact on Bitcoin prices and overall market stability.
Additionally, the large-scale return of Bitcoin from the Mt. Gox era may trigger concerns about potential selling pressure and its effect on market liquidity. Investors may anticipate fluctuations in Bitcoin prices as these funds are reintroduced into the market and traded.
Furthermore, the return of these Bitcoin holdings highlights the ongoing legal and regulatory challenges associated with the Mt. Gox saga. The resolution of this long-standing issue could have far-reaching implications for investor confidence and the perception of security within the cryptocurrency ecosystem.
Overall, the anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to evoke anxiety among market participants and prompt heightened scrutiny of market dynamics. As the cryptocurrency market braces for this significant development, it remains to be seen how it will navigate the potential challenges and opportunities presented by the return of these funds.
Source: blockchain.news
The post Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety appeared first on HIPTHER Alerts.
Blockchain
Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration
Binance is currently embroiled in a legal dispute in Canada over allegations of selling cryptocurrency derivative products without proper registration. This lawsuit underscores the regulatory challenges facing the cryptocurrency exchange in various jurisdictions.
The lawsuit accuses Binance of offering crypto derivative products to Canadian investors without obtaining the necessary registration from Canadian securities regulators. This legal action highlights the importance of compliance with regulatory requirements in the cryptocurrency industry, particularly concerning the sale of derivative products.
Binance’s legal woes in Canada reflect broader concerns about regulatory compliance and investor protection within the cryptocurrency sector. As authorities worldwide increase scrutiny of cryptocurrency exchanges and trading platforms, companies like Binance face mounting legal and regulatory challenges.
The outcome of this lawsuit could have significant implications for Binance and the broader cryptocurrency industry in Canada. Depending on the court’s ruling, it could lead to increased regulatory oversight and stricter enforcement measures for cryptocurrency exchanges operating in the country.
In response to the lawsuit, Binance has stated that it is committed to compliance with all applicable laws and regulations in the jurisdictions where it operates. However, the outcome of this legal dispute will likely shape the regulatory landscape for cryptocurrency exchanges in Canada and influence their future operations and compliance efforts.
Source: blockchain.news
The post Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration appeared first on HIPTHER Alerts.
The Cardano Foundation has announced the launch of Pragma, marking a significant milestone in open-source blockchain development. Pragma aims to revolutionize Cardano by enhancing its infrastructure through innovative open-source projects.
Pragma represents a new chapter in the evolution of Cardano, focusing on improving its underlying infrastructure and expanding its capabilities. The initiative underscores the Cardano Foundation’s commitment to fostering innovation and driving progress within the blockchain ecosystem.
By leveraging open-source projects, Pragma seeks to enhance Cardano’s functionality and scalability, paving the way for broader adoption and increased utility. These efforts are expected to unlock new opportunities for developers and users alike, further cementing Cardano’s position as a leading blockchain platform.
Pragma’s launch highlights the ongoing evolution of Cardano and its commitment to pushing the boundaries of blockchain technology. Through collaborative open-source development, Pragma aims to address key challenges and drive continuous improvement within the Cardano ecosystem.
The Cardano Foundation’s announcement of Pragma signals a significant step forward in its mission to build a decentralized and sustainable blockchain infrastructure. With Pragma, Cardano is poised to embark on a new era of innovation and growth, setting the stage for a future of unprecedented possibilities in blockchain development.
Source: cryptonews.com
The post Cardano Foundation Launches PRAGMA: A New Chapter in Open-Source Blockchain Development appeared first on HIPTHER Alerts.
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