The Oracle of Oracles: AllianceBlock Launches Data Tunnel MVP, Powering the New Data Economy
Leveraging funding from Ocean Protocol’s Ocean Shipyard Grant, and existing partnerships with Aikon and API3, the decentralized Data Tunnel increases data traceability, efficiency, and ease of use
AllianceBlock, the first globally compliant decentralized capital market, has announced the launch of the AllianceBlock Data Tunnel MVP, a data marketplace that allows data providers in both DeFi and TradFi to benefit from a secure and easy-to-use solution to access users of both spaces. The Data Tunnel makes it possible to publish, monetize and use data in a decentralized and simple way, without needing to understand blockchain, while ensuring traceability, transparency, and trust.
AllianceBlock’s cross-chain scalable Data Tunnel also simplifies usability for data consumers and developers through a standardized output format. This is in contrast to other current offerings, where datasets are offered in a wide range of formats, making it more difficult for consumers to use. Features include: full support for files of any size; revenue sharing; a subscription service; a native query language; and payment through ALBT, the AllianceBlock token.
Matthijs de Vries, CTO and Co-founder of AllianceBlock said, “Datasets are hard to monetize and often come in incompatible formats. Thus, data often becomes siloed. Further, once data is shared with another party, it is difficult to trace. The AllianceBlock Data Tunnel will become the oracle of oracles in its ability to take data from select oracles to the Data Tunnel and not only simplify it but also enrich it, and then channel it back to providers. In this way, it is the ‘tunnel’ through which DeFi and TradFi users can access and take advantage of increased data opportunities.”
The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 creating a new financial infrastructure. To achieve this, the protocol is focusing on compliance and regulation, data, and DeFi technology. Since its inception, AllianceBlock has been making strides in the DeFi industry from all angles, announcing partnerships with, Chainlink, Ocean Protocol, Injective Protocol, Orion Protocol, CertiK, and many more, as well as with TradFi groups such as the London Stock Exchange Group Partner Program.
Rachid Ajaja, CEO and Co-founder of AllianceBlock said, “It’s a big data world, but the extent of big data’s value is not yet realized, and the buying and selling of data is difficult. The product will enable a host of possibilities for SMEs, both inside and outside the blockchain industry, allowing them to monetize data while maintaining control. This could include anything from city planning and utilization data to water quality measurements of a country, traffic flow on a highway, or power consumption statistics. The AllianceBlock Data Tunnel is an important step toward the creation of a fully decentralized capital market.”
Recommended AI News: VukGripz Becomes Official Bat Grip Partner of Perfect Game
Spearheaded by a team of ex-JP Morgan, Barclays, BNP Paribas, and Goldman Sachs investment bankers and quants, AllianceBlock is on a mission to disrupt the $100 trillion securities market and become a major player in decentralized finance and open banking.
De Vries concluded, “The forthcoming release of the MVP includes select features that will be expanded on over time. We have designed the MVP to be as user friendly as possible, with a refreshing, modern, and easy to use user interface. This is just the beginning.”
AllianceBlock is also working to onboard data publishers (both those looking to publish a dataset and consumers looking for specific data), and has plans to launch ‘AllianceBlock for Developers’, an online portal containing any information developers might need.
Recommended AI News: Arabesque S-Ray ESG Data Products Now Available on AWS Data Exchange