Friday, 10 July 2020

Johnson & Johnson, Roche, Unilever join blockchain-based data sharing network

Johnson & Johnson, Roche, Unilever have joined Ocean Protocol, a data sharing platform powered by blockchain.
Ocean Protocol, who just launched its beta network, connects individuals, industries, startups, governments and data and AI experts aiming to deploy their proof of concept solutions on the blockchain-enabled data-sharing platform. Existing collaborators include AI Singapore, Aviva that use Ocean Protocol to set standards and demonstrate how to share data safely and securely without compromising privacy or ownership.

Ocean Protocol uses blockchain technology, smart contracts, and tokens to enable data sharing, guaranteeing control and auditability while protecting privacy. The technology allows organisations 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.

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.

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