Ocean Protocol, a blockchain-based decentralized protocol for data collection, sharing, and monetization has announced the successful conclusion of a Proof of Concept (PoC) program it conducted in partnership with Mercedes Benz parent company Daimler AG.
In a press release published on Tuesday, Ocean Protocol announced that through the PoC, Daimler was able to use the Ocean platform for data sharing both internally and externally. Internally, Daimler was able to share data including sales and financial figures between departments whilst externally, the platform allowed for efficient collection and relaying of supply chain data for parts acquisition and availability.
“This project is an important step in showing that decentralized solutions can be deployed for enterprises by using the leading-edge capabilities of the Ocean Protocol technology stack,”the release reads. “Daimler AG has an international footprint where every business unit could participate in a data-sharing ecosystem internally within Daimler and externally with service partners.”
The Ocean Protocol PoC collaboration with Daimler AG is a classic use case for the blockchain showing how the technology can be used to solve everyday problems.
“We believe in the power of Blockchain to unlock the value of data in a decentralized way,” Daimler AG’s Vice President of IT Technology & Cross Functions Hartmut Mueller. “On our journey towards a data-driven company, this collaboration with Ocean protocol enables us to build a secure enterprise B2B data marketplace to monetize and put data to work.”
However, despite the apparent benefits of using the blockchain can easily be thwarted by the increased vulnerability from attacks in a decentralized network. Ocean Protocol believes its network is both secure and reliable for corporate clients to use for data sharing.
In Daimler AG’s case, the company relies on a vast network of inputs from both external suppliers and internal processes to ensure the efficient flow of operations. They require a blockchain network that will not only make these diverse operations more streamlined but more importantly, ensures the safety and security of the data collected and shared.
“We are honored to deliver this pilot project for Daimler, a company with a clear vision of how blockchain technology can unlock data sharing and make operations more efficient. With this pilot, Daimler demonstrates its continued leadership in the automotive industry,” Bruce Pon the Founder of Ocean Protocol said in a statement.