New Datatokens

On-ramp and off-ramp for data assets into DeFi

Ocean makes it easy to publish data services (deploy and mint ERC20 datatokens), and to consume data services (spend datatokens). Crypto wallets, exchanges, and DAOs become data wallets, exchanges, and DAOs.

Datatokens are the interface to connect data assets with blockchain and DeFi tools. Crypto wallets become data wallets, crypto exchanges become data marketplaces, DAOs for data co-ops, and more via DeFi composability. It’s “data legos”.

The data itself does not need to be on-chain, just the access control.

Ocean-based apps make data asset on-ramps and off-ramps easy for end users. Ocean smart contracts and libraries make this easy for developers.

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  • Out-of-the-box data wallets, exchanges, more.

    Datatokens repurpose ERC20 crypto wallets as data wallets, crypto exchanges as data marketplaces, and more.

  • Drive more value to DeFi.

    Datatokens bridge the multibillion data industry into DeFi assets under management, and help valuable data get used to optimize DeFi yields and capital efficiency.

  • Simple decentralized access control.

    The benefits of decentralized access control combined with a simple developer experience, user experience, and code.

How It Works

Datatokens are ERC20 tokens to access data services. Each data service gets its own datatoken.

You can access the dataset if you hold 1.0 datatokens.

To access the dataset, you send 1.0 datatokens to the data provider (running Ocean Provider). To give access to someone else, send them 1.0 datatokens. That's it.

Because datatokens are ERC20, and live on Ethereum mainnet, there's a whole ecosystem to leverage.

Holding a datatoken implies the right to access the data. We can formalize this right: the datatoken would typically automatically have a license to use that data. Specifically, the data would be copyrighted (a form of intellectual property, or IP), as a manifestation of bits on a physical storage device. The license is a contract to use the IP in that specific manifestation. In most jurisdictions, copyright happens automatically on creation of the IP. Alternatively, encrypted data or data behind a firewall can be considered as a trade secret.

'Ownership' is a bundle of rights. 'Owning' a token means you hold the private key to a token, which gives you the right to transfer that token to others. Andreas Antonopoulos has a saying: 'Your keys, your Bitcoin. Not your keys, not your Bitcoin'. That is, to truly own your Bitcoin, you need to have the keys to it. This crosses over to data:

'Your keys, your data. Not your keys, not your data'.

That is, to truly own your data, you need to have the keys to it.

Datatokens Resources

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