Singapore — May 26th, 2020 — Ocean Protocol, a decentralized data exchange protocol to unlock data for AI, announces the release of Compute-to-Data, which enables sharing, buying and selling data while preserving privacy.
Private data can help research in life-altering innovations in science and technology. The more data that is available from a multitude of sources, the more the predictive the Artificial Intelligence (AI) models become. However, companies hesitate to share and sell their private data because it has traditionally had unpredictable risks, such as data breaches and the related liability.
“Ocean Compute-to-Data is our response to solving the current tradeoff between benefits of using the private data and the risks of exposing it. Compute-to-Data lets data stay on-premise, while allowing 3rd parties to run specific compute jobs on it, like building AI models. There are multitudes of applications in science, technology, and business contexts because the compute is sufficiently aggregating or anonymizing that the privacy risk is minimized,” explained Trent McConaghy, Ocean Protocol Founder.
Compute-to-Data is useful for data sharing in research contexts, as well as for selling private data. The private data isn’t directly sold; rather, access to data and the supporting compute are purchased by data users. The data stays private because the AI algorithms train directly on the data and the data never leaves the premises, allowing the data owner to maintain control of their assets.
“Ocean Compute-to-Data helps to make private data available for AI and business intelligence applications, while avoiding ‘data escapes’ and without the last-mile user seeing the private data directly,” remarks McConaghy.
It enables data marketplaces to buy and sell private data in a privacy-preserving fashion, for applications in healthcare, mobility, and more. We see Compute-to-Data as a new opportunity for companies to monetize and unlock their data assets.
Data owners approve which AI algorithms run on their data to perform remote computation powered by Compute-to-Data and then provide the compute services to execute the algorithms as part of their service offering. Blockchain technology is used to connect the data with the computation while bypassing the need to trust a centralized middleman.
AI practitioners benefit from training their models on private data that would be otherwise inaccessible.
#Do you want to know more about Ocean Compute-to-Data?
You can find a thorough, comprehensive description of Compute-to-Data underpinnings here.
You can access the Ocean Compute-to-Data documentation for developers, AI practitioners and data scientists here.
See how Compute-to-Data works in the following demos:
#About Ocean Protocol
Ocean Protocol is a decentralized data exchange protocol to unlock data for AI, launched in 2017. Leveraging blockchain technology, Ocean Protocol connects data providers and consumers, allowing data to be shared while guaranteeing traceability, transparency, and trust for all stakeholders involved. It allows data owners to give value to and have control over their data assets without being locked-into any single marketplace.