Polygon (MATIC) is continuing its march of widespread adoption in various sectors as it has added a new deal to its roster, this time with Daimler South East Asia, part of the Mercedes Benz Group, which will use Polygon to launch a blockchain-based data sharing platform.
This platform will be called Acentrik and will allow businesses to buy and sell data, including everything from insurance information to clinical trials.
How Polygon will be used
The buying and selling of data will take place on Polygon and the test network, Ethereum Rinkeby and businesses will pay for this data using stablecoins. However, since transactions will take place on Polygon, users will have to pay transaction fees using the network’s native cryptocurrency, MATIC.
Once each transaction is completed, the buyer can access the underlying data stored in AWS 53 or IPFS.
Cheers from Polygon
Sandeep Nailwal, the co-founder of Polygon, took to Twitter to celebrate this new deal, noting:
“Mercedes Benz is the latest company to be powered by Polygon Onwards!”
The initiative further demonstrates the widespread adoption of the Polygon network by leading brands. Polygon continues to demonstrate its potential as one of the leading blockchain platforms that businesses can rely on.
Importance of data sharing
There is a need for data sharing in various sectors, including technology. Machine learning and artificial intelligence require a lot of data to operate efficiently. Some companies have enough data at their disposal that took them years to gather, while others were not as fortunate to get an early start.
However, businesses that have not had the privilege of starting early can benefit from the data sharing initiative.
To illustrate, Trent McConaghy, the co-founder of Ocean Protocol, revealed in an interview that Google’s self-driving car initiative, Waymo, is ahead of other companies simply because it has been working on the solution for years.
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