Ocean Protocol announces its launch of Global Data Economy Challenge

Ocean Protocol is a decentralized data exchange protocol which connects data providers with consumers to allow data to be shared and guarantee traceability, transparency, and trust while using Blockchain Technology, smart contracts, and tokens.

Ocean Protocol had announced a 6-week competition that calls for Developers, hackers, tech talents to tackle many issues relating to network integrations, data marketplaces, and more. Participating teams are required to produce a Proof-Of-Concept (POC) on Ocean Protocol on one of the following tracks:

Data Marketplaces: Build Data Marketplaces that connect data providers and consumers. Expose data, storage, compute, and algorithms for computation to kickstart a New Data Economy.

Network Integration: Teams need to use Ocean Protocol to help data scientists and add value to data. It might be for statistical analysis, machine learning modeling or visualization, a robust set of data science tools will help in deriving practical solutions to industry pressing issues and social problems.

Wild Card Submissions: Boost Ocean protocol and its ecosystem to the next level by filling the blanks and show what can be built on Ocean that can contribute to the new economy.

As for the prizes, more than 3.4 million tokens are available, and each track will have a total of 768,000 for the top three submissions:

• First Place Winners in each track will receive 333,000 tokens
• Second Place Winners in each track will receive 270,000 tokens
• Third Place Winners in each track will receive 165,000 tokens

Adding to these, there will be rewards given for speedy submissions, entries using data found on Ocean Data Commons, and more.

The Global Data Economy Challenge is a first step towards bringing an ecosystem for a New Data Economy that gives power back to data owners and helps them to attain value from their data.

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