Data + Blockchain + Toolkits = Music to AI’s Ears…
Ocean Protocol Foundation and Music Tech Fest partner to create a blockchain platform that will power Artificial Intelligence.
Today, Ocean Protocol Foundation (“OPF”) announces its partnership with Music Tech Fest (“MTF”). This partnership brings together OPF’s Ocean Protocol, a decentralized data exchange protocol, with MTF’s Industry Commons, a methodology, transversal toolkit, and ecosystem that changes the way we innovate. Combining these resources will help unlock siloed data to drive discovery and insights for the benefit of Artificial Intelligence.
“Music Tech Fest’s Industry Commons has done an incredible job in helping large enterprises bring their data into a global data commons,” said Trent McConaghy, Founder of Ocean Protocol Foundation. “At Ocean Foundation, we’re thrilled to work with Industry Commons to catalyze this activity towards our shared vision of a public data substrate for the planet.”
Data is incredibly fragmented and difficult to access and control. Those that possess data often lack the ability to use it, while those that could use it often don’t have access. Ocean Protocol will break down these barriers by creating an ecosystem that reduces the friction between data providers and consumers. And all of this will be done while guaranteeing control, auditability, transparency, and compliance.
Industry Commons brings to bear a proven development methodology combined with innovative toolkits and access to a broad range of people and skillsets within their ecosystem. A product of #MTFLabs, the Industry Commons has been endorsed as a high level policy recommendation by the European Commission for industry research and innovation, future technologies, jobs, and economic growth. Aligning these two initiatives will create a formidable end-to-end platform that will augment existing Industry capabilities, as well as break down barriers to innovation.
Michela Magas, Founder of Music Tech Fest, stressed the significance of the collaboration, stating:
Industry Commons creates a physical market place for data managed by the Ocean Protocol. Access to a large and diverse pool of data enables our innovator community to create a range of ground-breaking data-driven products and applications. The innovation process is supported by Smart Contracts with layers of IP registered to individual stakeholders — from the seeding of ideas, microfunding of prototypes, through to a commercial proof of concept — each phase triggers a new contractual state. The only way we can build an innovation IP Stack in real time and make open innovation fast and sustainable is with the support of Ocean Protocol Foundation.
The partnership’s first collaboration will take place next month during a 5-day #MTFLabs testbed and showcase, where contributors will prototype smart contracts for data-driven applications across all industries in real-life innovation scenarios, powered by Industry Commons in partnership with Ocean Protocol Foundation.
Ocean Protocol Foundation
Ocean Protocol Foundation is a nonprofit organization building Ocean Protocol, a decentralized data exchange protocol that facilitates the sharing and monetizing of data assets for AI while guaranteeing control, auditability, transparency and compliance to all actors involved. Ocean Protocol brings together BigchainDB GmbH, a Berlin-based developer of the scalable blockchain database powering IPDB, and DEX Pte Ltd., a Singapore-based data marketplace provider.
Music Tech Fest’s Industry Commons
Music Tech Fest’s Industry Commons is a collaborative ecosystem that brings together a diverse set of skills and people to solve problems in innovative ways. Led by Michela Magas, European Woman Innovator of the Year 2017 and an adviser on AI innovation to the European Commission and the G7 leaders, Industry Commons safely disrupts industry innovation by transparently managing IP through smart contracts, and enabling stakeholders through their unique innovation methodology, transversal toolkit, and diverse ecosystem.