Ocean will support Oraichain by providing Compute-To-Data technology and enabling Ocean's ecosystem partners to leverage Oraichain's AI Request Hub. Oraichain's AI services data will be monetized via the Ocean Market.
SINGAPORE, March 12, 2021 /PRNewswire/ -- Oraichain and Ocean Protocol announced a new long-term partnership that allows both companies to work together to integrate products, services, and AI data to expand both companies' AI-powered ecosystem offerings.
After the Oraichain Mainnet (Oraichain's blockchain network) launch in February, this new partnership connects Oraichain with Ocean, the leader in Web3 data economy tooling, to help accelerate the rate of adoption of both organizations' platforms.
Oraichain and Ocean will work together on key pillars of their ecosystems:
Ocean will support Oraichain by providing Compute-to-Data technology to Oraichain's AI Request Hub and AI Marketplace.
Ocean will enable its ecosystem partners to leverage Oraichain's Request Hub to request data, compute services, AI oracles, and other AI services provided by Oraichain.
Oraichain will publish and monetize data from Oraichain's AI services such as AI APIs and AI-generated data via the Ocean Market.
Oraichain and Ocean will explore further integrations of future products and services within their ecosystems.
Oraichain is developing an AI Marketplace which aims to be the one-stop-shop for AI services, featuring an AI Request Hub that will be the platform where companies (AI services & data buyers) will be able to request customized AI solutions, and AI providers (AI services & data sellers) will offer and monetize their solutions.
The collaboration with Ocean will fast-track Oraichain's AI Request Hub to be a solution-driven product providing direct access to Oraichain's AI services, including AI Oracles - that contain AI APIs - and data for training and testing for those AI models.
The Request Hub is expected to launch in the second quarter of 2021 and will utilize Oraichain's AI Data Hub and Ocean Protocol's Compute-to-Data technology in order to attract customers and AI solution providers. Oraichain's Request Hub will run several AI and Machine Learning competitions to call for an online community of data scientists and machine learning practitioners, which is similar to Kaggle - a subsidiary of Google. Oraichain also intends to fund innovative AI projects via the Request Hub.
Commenting on the partnership, Dr. Chung Dao, CEO, Oraichain Pte. Ltd., said: "I am confident in the strong impact that the partnership between Oraichain and Ocean will have in terms of innovation in the AI and Blockchain space. Artificial Intelligence is the core of both companies, and the combined efforts, synergies and future integrations will create plenty of new opportunities".
Commenting on the partnership, Bruce Pon, Ocean Protocol founder, said: "Ocean Protocol's engagement with Oraichain promises to be a dynamic addition to our data and AI ecosystems. The presence of Oraichain data on Ocean Market diversifies our offerings while Oraichain can benefit from leveraging our Compute-to-Data feature in their Request Hub. We're excited to further explore the potential synergies."
The partnership opens up a window of new opportunities for Oraichain as it expands its AI ecosystem with services and products such as the AI Marketplace (that includes more than 100 AI APIs), Publisher Service, Training Service, Dapp Hosting, and more. Check Oraichain's roadmap for more information.
Oraichain is the world's first AI-powered oracle and ecosystem for blockchains. Oraichain data oracle platform aggregates and connects Artificial Intelligence APIs to smart contracts and regular applications. Founded by Dr. Chung Dao, Oraichain's mission is to be the portal between AI and blockchain technologies, serving as a foundational base for the creation of a new generation of smart contracts and Dapps leveraging AI technologies, aiming to revolutionize the AI, DeFi, and Blockchain industries.
Unlike regular oracles using raw data, Oraichain's AI oracle uniquely uses AI APIs to process and create data on-the-fly via virtual machines on smart contracts. Data quality, reliability and security are enhanced by using test cases, which help to avoid intermediaries, increase trust and open up unprecedented application functionalities.
Oraichain network provides the infrastructure and consensus mechanisms for Blockchain and AI training. These interconnected ecosystems accelerate the development of Web3, DeFi, enterprise and academia applications. yAI.finance is the first use case of Oraichain, a DeFi platform using unique AI-based features and strategies. Oraichain AI Marketplace offers AI products and APIs with the goal of becoming the one-stop-shop for Artificial Intelligence services.
Ocean Protocol's mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.
Ocean datatokens turn data into data assets. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other DeFi tools. Projects use Ocean libraries and OCEAN in their own apps to help drive the Web3 Data Economy.
Ocean's "Compute-to-Data" feature gives compute access to privately-held data, which never leaves the data owner's premises. With it, Ocean Market enables the monetization of private data while preserving privacy.