peaq and Ocean Protocol Partner to Enable Decentralized Data Sharing and Monetization for Machines

The partnership seeks to add another layer of value-generation to the operations of autonomous vehicles, robots and devices through leveraging the data they accumulate. Through the partnership, Ocean and peaq will make it possible for connected and autonomous vehicles, robots and devices to share and monetize their data in a fully decentralized manner.

peaq, the Web3 network powering the Economy of Things (EoT), announces a strategic partnership with Ocean Protocol, the Web3 platform to unlock data services for AI and business innovation. Through the partnership, peaq links the economy of machine-generated goods and services with Ocean Protocol’s data marketplace and delivers a robust data monetization toolkit for builders creating decentralized applications on the peaq network.

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The partnership follows the collaboration between the two organizations at the Mobile Open Blockchain Initiative (MOBI) and the Gaia-X 4 Future Mobility moveID project, both of which are focused on building the Web3 infrastructure for the future of mobility. Early efforts in the partnership will focus on delivering moveID-focused applications.

This involves leveraging peaq’s Self-Sovereign Machine Identities (SSMIs) and Ocean’s data monetization technology to power a vast array of mobility-related opportunities such as the monetization of road condition data. This will be ensured by integrating essential components of Ocean’s technology like Compute-to-Data and data-pricing mechanisms to build a system architecture that ensures a seamless exchange of information between providers and customers of mobility applications. peaq’s Minimal Viable Gaia-X portal, which enables users to publish and monetize their data in the peaq network leveraging Ocean’s technological stack, is already up and running via the partnership with deltaDAO AG.

Till Wender, co-founder of peaq, said: “Data is a crucial resource for most of today’s businesses, but the centralized approach to its collection and distribution opens up a trove of socio-political plights. Ocean Protocol’s impressive toolset for a Web3 data economy offers a welcome alternative to the status quo, giving individual users back control over their data. Together, we will unlock the full potential of data generated through our everyday activities in a way that empowers communities, not centralized platforms.”

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Bruce Pon, Ocean Protocol founder, commented: “peaq and Ocean share a vision on the future of mobility and machines. Ocean’s technology brilliantly compliments peaq’s transaction infrastructure, greatly expanding the toolset available to those building on peaq. We’re excited to support peaq’s purpose-built network for the Economy of Things, to enable the secure, fast, and frictionless transfer of value and data between humans and machines.”

Further down the line, peaq and Ocean will expand the collaboration beyond the moveID framework for a wider integration unlocking new ways for peaq ecosystem members to share and monetize the data their machines generate during their daily routines. Future integrations will be designed to ensure that all machines running on peaq are able to seamlessly link with Ocean’s data marketplace and trade a vast array of data types in a secure peer-to-peer manner.

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