• Tue. May 28th, 2024

Mercedes Benz Partners with Polygon to Develop a Blockchain-Powered Data Sharing Platform

Hassan Mehmood

ByHassan Mehmood

Aug 8, 2022

It is not uncommon for tech companies and the automotive industry to go in partnership with various cryptocurrency platforms and decentralized entities.

Many businesses out there literally accept crypto tokens as a mode of payment, while others have partnered up with many DeFi projects to launch their individual services or blockchain-oriented products. But something a bit different has happened recently as Mercedes Benz goes into partnership with Polygon, which is an Ether Layer 2 solution to create a decentralized data sharing platform.

Decentralized Data Sharing Platform

It is exactly what it sounds like; it is a decentralized entity having no affiliation with the centralized world where sharing of data could take place in real-time. Companies, individuals, or simple crypto users could explore the platform to get their hands on all kinds of data that has been made available by other users by their own consent. The idea is to create a decentralized data vault that is accessible to all at all times.

Think of the possibilities that this kind of project would have, people from the banking sector, stock markets, clinical tries conducted, educational elements, or even mathematical geniuses could use all share data with each other in a completely decentralized manner. It won’t be wrong to say that this kind of project was long overdue, and Mercedes Benz and Polygon have knocked this one out of the park.

This project has been given a name, and that is ‘Acentrik’. While it might not be the very first data-sharing platform based on decentralization but it is the most refined one. There are proper protocols and smart contracts in place that would allow for the transfer of data from one person to another, and the payment for the retrieval of the data will also be orchestrated in the native token of the platform.

Instead of using the block-oriented linear approach of a standard blockchain to store and sort data, NFT technology is going to be used, which should interpret or represent individual datasets.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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