HOME PAGE THANKS TO OCEAN FOR DATA OWNERSHIP – BIGCHAINDB-INTERVIEW PART 2
In the first part of our interview Bruce Pon told the story of BigChainDB and the Ocean Protocol. In the second part Ocean Protocol will be discussed in more detail. We will talk about the role of data in AI and the token sale.
To help readers understand the vision behind Ocean Protocol: Why does artificial intelligence need a Bitcoin revolution?
The roots of artificial intelligence research lie in the middle of the last century. The concepts of that time could only be implemented 50 years later with the advent of the Bitcoin revolution, because now there was access to the vast amount of Bitcoin revolution data.
The data available on the Internet is often available in unstructured form. We therefore had to look at this data from a new perspective and needed new databases. Conversely, the development of non-relational databases such as MongoDB led us to look at existing data from a new perspective and to re-examine it against questions that could not be articulated in relational databases.
This in turn advanced the use of AI. The use of old algorithms to classify these data increased the prediction accuracy from 80% to 99%. Even with different models, the same results were obtained and it was seen that the algorithms themselves were not as relevant as the database that was the basis for the data analyses.
When you realize that it’s the data itself that determines the quality of statements, you can understand why Google and other companies are so fond of our data. But it’s not just Google, Facebook and others that use our data on a large scale: MasterCard now knows more about a country’s economy than the country itself.
What if the data these giants access were to suddenly become open source? That would mean huge empowerment for everyone. That’s exactly the goal of Ocean Protocol: First, everyone should have access to all shared data. Second, everyone should be perceived as a data provider and paid for shared data. The sovereignty over the data is to be restored and the individual is to be master of his privacy again.
In order to draw a bow to artificial intelligence: data provenance, i.e. the origin of the data, is important for good artificial intelligence. The closer it is to the object under investigation, the higher the security of the models.
If we shift this data provenance to the Bitcoin loophole, this also gains power
With a price on this data, the owners of the Bitcoin loophole could get money without a job. With the advent of artificial intelligence, many professions are being replaced. What are we doing with this coming wave of unemployed, which does not only include Bitcoin loophole?
Which must be clear to us: Our power grid is already controlled by artificial intelligence – if you consider the problems of a fluctuating, decentralized power supply, especially in the context of the energy revolution, this is a challenge that no human being can face. So we have already put electricity in the hands of AI – and things are going well here in Germany!
You mentioned that those who provide data should be paid for it. How are the associated rewards distributed? Does the on-chain happen?
Of the Ocean Token generated, 55% is distributed to investors, the founding team and cooperating companies. 45% will be used for a Block Reward. This will be distributed to Miner, which ultimately also processes data. However, a large proportion goes to all nodes that feed data into the system.
Especially for data for which no price has been charged so far, this is intended to create an incentive to disclose the same. Data validation and other services also receive part of the block reward. So people can also buy algorithms with which they can look more closely at their own data.
The market price of these data should be subject to the laws of the market.
I understand that the Ocean Protocol gives power back to the individual: Anyone can build such a node, share their data and receive their share of the block rewards. But what could be a problem is the prevention of spam. Many systems solve this through initial investments that make pure spam intentions economically unattractive. However, this leads to the dilemma that while spam is prevented by high barriers, this excludes the small man. How does Ocean solve this problem?
To put it another way: How do you go about it?