Decentralized Data Markets: Ocean + Filecoin – Trent McConaghy

-Today I will introduce Ocean & Filecoin's decentralized data market. Now I will start to talk about Ocean's mission. This is the same as Filecoin's mission. It is the same as Filecoin's history. It also dates back many years. Its mission is to maintain privacy while opening up. Data At present, the autonomous data of individuals and groups has a long-term vision. For example, there is a huge data economy, but shadow data is invisible to us .

Facebook and Google all over the world are taking advantage of this opportunity. Generally speaking, this is a lot. On the one hand, it is harmful to society. In terms of scale, this industry in Europe alone is worth 400 billion U.S. dollars. So this thing is already very big and it is growing a lot every year. Our hope is that the license-free open and transparent data economy Ocean & Auxiliary tools such as Filecoin can play a huge role in this aspect.

Generally speaking, the purpose is to use encryption tools to open up this economy. So what is Ocean? It is three things. First, it is a community/ecosystem composed of individuals and groups that take this as a task. It is initiated by the Ocean Protocol Foundation. Second, it is a set of tools that serve as a public infrastructure to assist in the execution of tasks. This is also what we are doing every day. At the end of the hard work, it is a token that can stimulate the sustainable development of the ecosystem. Therefore, there are several such tools including data token, which is a tokenized access control, and Ocean Market, which is a data exchange. I will introduce each of these web applications in detail. Starting from our latest version, Ocean can now be deployed to the mainnet of Ethereum. This was launched about six weeks ago. There are also data privacy protections through computing. I will talk more about it. One point, then Ocean data tokens, you can think of them as…For example, as mentioned before, using RAMP to complete this allows Bitcoin to enter Ethereum in the form of DeFi and then exit or complete Filecoin, etc.

So you can put Ocean is regarded as a technology or a set of tools used to complete data services. You can basically use them as ERC-20 assets to connect to the Ethereum ecosystem. If you have 1.0 data tokens, you can access specific data services. This is a bit Like the SOCKS protocol, if you have 1.0 SOCKS, you can send them to the Uniswap team for redemption to obtain physical objects. In Ocean, if you can send 1.0 data tokens to the publisher of the corresponding Datatoken, you will receive that data service. So now with the data token, we can use the entire infrastructure that has been around Defi, especially in Ethereum, so Metamask has become a data wallet, and so is Trezor and Ledger, which is a hardware data wallet, etc. Aragon is now A kind of data DAO Colony, DAOstack, Moloch, etc. All these traditional DEX and even centralized exchanges are like this. For example, Balancer is now a kind of data exchange or even an IDO startup platform.

I will elaborate on this first data financing. People want to know. The source of these data includes who always has access, when, where, and how. Now Etherscan has become a data source tool because you only need to track the movement of these data tokens. These data tokens. I may not say that they are ERC-20. So it’s very standard things, very straightforward, and then you can also get the comprehensive statistics of companies such as CoinMarketCap and Coingecko. Of course, there may be new versions of those data just for data acquisition or the main products of CoinMarketCap. As we have seen in DeFi, you can also use other DeFi tools such as data insurance and data baskets to your heart's content, so Ocean is the gateway to this.

You mainly publish your data assets here as yours… .. Sorry to publish your data service as a data asset ERC-20 data token, but you can also use them at the end and in the middle. You can do various things as I show here. The second one is Ocean Market. This is for Data-adjusted advertising DEX. It has a front-end web application plus data tokens so it is easy to publish and use data. In addition, there is a Balancer or AMM in the back-end, which is very helpful to reduce costs.

With it, people can go in and publish data. They can buy data and sell data or speculate on data. Of course, they can also use data and invest in data. This plays a management role, but it is difficult to obtain income. Therefore, increasing liquid assets means that the more money invested, the quality of this data asset will be affected. It is very likely that the higher the background of this, I am not going to elaborate on this, but this is the contract level at the bottom of the Ocean architecture. It is actually very simple. Here is a factory that deploys ERC-20 data tokens. It actually uses proxy contracts to deploy to reduce dividend costs. The same is true for fund pools such as Balancer Pool. Then the upper layer is done with JavaScript and Python libraries to make this easy at these levels. Then the upper layer is web applications such as Ocean Market. Of course, third-party tools such as Ocean Market can also be used here.

Trezor and all other ERC-20 compatible tools. I will continue to talk about Ocean Market in detail . This is the start page. You only need to go to It is a bit like traditional Web2 applications and Dex. The upper right corner of the combination is connected to the wallet and you can search and so on to search for data asset release, etc.

When you are ready to publish, you need to fill in some content such as title description, etc. It looks like this, a bit like the NFTR platform, which dates back to 2013 and 2014 When I used Scribe, then once you click Publish, it will be deployed to the Ethereum main network to deploy an ERC-20 contract. As I said, use a proxy contract to reduce dividends. The next one is a publishing example. You can give your data assets on demand. Setting a fixed price This is an example. This is a data set of 10 million data points published by others on eBay. But you can have dynamic pricing, right? Just like Balancer, AMM will work here. After they are released here, they will invest part of the first liquid assets of the data token and part of the Ocean token and a specific weight ratio. This can establish a first price but of course people can buy and sell afterwards. The data token thus becomes a real price determined by the market itself, so to a large extent, the first data financing is very similar to the first DEX financing.

It only focuses more on the data. Someone has even used Ocean to sell the data of the Data Alliance. Swash uses Streamer. The technology of Swash has established a data alliance. In fact, many people in Swash who have browser plug-ins sell their browser history records there and then it will pass Swash . The situation here is that the Swash team wants to untie all of these and pass Ocean as a data file. There are actually a lot of liquid assets in this sale, which are about tens of thousands of dollars. I think some pools are worth hundreds of thousands of dollars in Ocean liquid assets, but people are also creatively using data assets not only for artificial intelligence, etc. There is a platinum The selling artist has released some music samples. If you are a DJ and want to make music samples, this is an example. The current situation is that we are gradually seeing the epitome of the crypto economy starting to appear. Let me show you a few pages of slides about this.

Chat content is promoting encrypted assets. There are actually more than one Telegram chat groups suddenly appearing specifically for data assets. This is an example a few days ago. At that time, someone said that if you increase the price of DU and Atlantis, Atlantis should be around 330 to 350 and then another. One person started to talk about Atlantis, so they will repeatedly discuss that DU and Atlantis are two data sets. From this channel, it can be seen that it is basically speculative buying and selling these two different data sets and people continue to join after they release these assets.

This is amazing. This is the first time we have seen someone speculate on data assets in such an open way. We have also seen the emergence of data indexing, which is the quality standard that people put forward. In some cases, they provide it for free. As the website of, they have genius scores and use the relevance of the activity to explain whether this person will destroy the plan and other aspects. Some people even made a very advanced version and then sold these as data assets on the Ocean Market. So this feedback The cycle is very tight. These are actually the most popular assets. Because people want to know which high-quality assets are worth investing in and which are not worth investing in, they are using Ocean Market.

Data hunting The role of the head They look for very valuable data assets and trade with people . They publish and sell these assets on the Ocean Market. This is very exciting. Of course, they are also thinking of various ways to sell their own data sets . Let me introduce to you that Ocean Market is already online. It's been about six weeks. It is the first market based on the Ocean protocol. It is very public and open. The number of visits has reached about 30,000. Ocean's capital pool has reached more than 1 million, which is more than 500,000 euros.

Transaction volume is 60,000 times. Page views 1.5 million publications. There are nearly 270 data sets and 164 capital pools. Each capital pool is its own AMM, right? So now the activities here are actually more active. We think it’s very exciting. This community is also fascinated by art. They love the concept of data farming. These pictures that show the community’s culture include me, Bruce, and the bull. This is happening. So again, this is like the epitome of the broader encryption economy. We have seen this. This is what we have seen with our own eyes. This is the birth of an open data economy. For the first time in history, we have a foundation in the public utility network. The data mart open to the world is a new way for data creators to share data and make money. Data is automatically priced by market mechanisms. This is the first time we have seen the AMM protocol itself converts data into assets. People are flocking to it. Some people say yes. I want to treat it as an asset now.

So people use their data assets as the first data financing IDO launch. The community has also proposed this term. People speculate in buying and selling these assets. Now there is even a plan to drive up the stock price and destroy it. We have to use strategies to help reduce this problem . Things are much better now, but in the first few weeks there have been a lot of share price bidding. So as I said before, this is the epitome of the broader crypto economy. We do hope that not only the Ocean Market exists but also that there is.

A large number of data market bifurcations have begun. At least we have seen these few examples. One is called Poseidon and the other is called Datapolis. In fact, I know that several other people have also begun to abandon Ocean Market and build their own markets. This is good news. So in simple terms, how does the data service work in the background? A service is public… Ocean provides many services and its audience is very wide . The first one is Uri Uri is released by the publisher. It is encrypted and stored on the chain but decrypted during use. It can be software run by the publisher. It can also be the software that the market runs. This is the front end of Ocean Market. This is of course because it is a uri, so it is super flexible, so it is suitable for static files. It is suitable for dynamically updated files. We have many people who do this every four hours and every 12 hours. Update the file once and of course because this applies to IPFS uris, it also applies to the data of Filecoin itself.

So if you want to use Filecoin to fix the data on IPFS, you can do this. You can even have IPN. So this also applies to Web2 REST API. Wait, because it's a uri, it's super flexible. We are running it now. Ocean also supports a data service. It is now in the backend. But Ocean Market may launch this concept in January. How does it protect privacy? The simple answer is to first let the data stay locally and then sell the access rights to the data to run some algorithms close to the data itself, and then the data must never leave the local area and never exit.

At the same time, data experts can build their own models or do analysis and other things. But we do hope to have more data services. So first of all, we want to see a lot of specialized data services. We hope that many Filecoin services can achieve first-class integration. I will talk about Web3 data services in detail later, such as Chainlink Graph and Numerici. Streaming media data services such as Streamer WebSockets, GraphQL Subscriptions, etc.

Web2 API, especially DeFi-based tools such as CoinMarketCap or Messari. There are also many off- chain computing-related tools that involve privacy protection, such as Secret Network ZK-Snarks, Multi- Party Compute, etc. Of course, the topic of this conference is Filecoin or more generally the storage market. So how can Filecoin users benefit from all this? I will elaborate on it very specifically. First of all, I said that because there are static IPFS uris that can be used.

We use this so you can immediately use it to sell your data in Filecoin and sell it on the Ocean Market. Of course, you can speculate on this data. Others can also speculate on this data. You can invest in it and increase your liquid assets, which is equivalent to saying yes. Of course, this is a high-quality thing. Of course, many, many people may invest in this thing. You can even drive up the stock price. If you really want to, you can destroy the plan. But please don’t do this. In addition, Metamask is of course also an ERC-20 wallet. Now you can use it to host these data tokens of Filecoind data, or you can give access to this to others, just click and send, then your Filecoin is now a data management system for storing data in Filecoin, you can also publish Your own Filecoin data market is only for Ocean Market. This is also open source Apache, so please feel free to use GitHub in the lower right corner.

It is the Ocean protocol/market. You can create your own data DAO. Use Aragon and throw in a bunch of data tokens. I know Olaf today. We will continue to speak later. Let’s listen to him. In short, let’s first use the ready-made technology that has already appeared. For example, the Streamer mentioned earlier has also done this for this technology. Swash has also done this, so this is very exciting. You can have more fun. How to create Filecoin Data cable How about citing funds? With Balancer AMM, you can create up to 8 tokens in V1 Balancer. Yes, create 8 data tokens there. Now you have an index fund for the first 8 data tokens or even more through grading. Of course you can. With protocols such as Set, you can use data insurance or AAVE loans as much as you want. I will also summarize Zargham's two speeches. He will repeat a little bit. Hello Zargahm! I like the data-driven decision-making in the Filecoin economy you talked about earlier. For example, the lender needs to decide how many files to lend.

Why not use quality standards to make the detailed data useful? I totally agree that this is a good idea, but how do you inspire people to create these standards? Really make people take the time to do it? Then they may need to be paid, right? Especially if they did spend time on it, how about creating and selling quality standards? The highest quality standards will appear. I have already said that we have seen this situation in Ocean Market, such as the genius score of, etc. So Filecoin data itself can also do this. You know this thing… People will naturally Ground is incentivized because you can make money by selling data and Ocean Market makes this easy. I said that Filecoin may provide more professional data service integration.

For example, Textile Buckets has its own built-in access control, so I expect some of these types to be great. The integration with Ocean Filecoin Retrieval Miners is a direct connection, etc. In summary, you can publish through investment and immediately speculatively buy and sell Filecoin data in Ocean Market. You can put your IPFS uri on it and buy and sell at will, but this is a generalization. Say you can say okay, it’s not only Ocean Market. We drag all these Filecoin data into DeFi as assets, into data DAO or ERC-20 wallets for custody, etc. These are all possible now, and this is all towards this broader goal. The broader goal that both Ocean and Filecoin hope to achieve is to build an open data economy, which is completely revolving around autonomous data and targeting individuals and groups. This is what I want to say. If you are interested in these slides, I will post them later. Go to at the bottom, then I will stop here.

Thank you very much for listening..

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