Daimler South East Asia, a division of the Mercedes-Benz Group, has collaborated with Polygon to create a data exchange system that is housed on the Etheruem Layer-2 scaling platform.
Acentrik, a blockchain-based data sharing network launched by a Mercedes-Benz group subsidiary, is tailored for corporate customers and will enable organizations to buy and sell data in a decentralized environment.
Co-founder of Polygon Sandeep Nailwal tweeted the exciting information to the Polygon community.
The underlying data can be stored on IPFS or AWS S3 and Polygon will assist in executing transactions on their blockchain after all essential payments have been done.
The blockchain network will also be used to exchange data from various industries, such as insurance information, scientific investigations, and clinical trial data. Each dataset is represented by a non-fungible token (NFT), which also contains a metadata hash, rather than being stored on the blockchain.
The Know-Your-Business (KYB) function and other capabilities reserved for corporate usage only are included in the data sharing protocol, which was built expressly for large-scale application.
The public blockchains Polygon or the Ethereum Rinkeby test network will be used for transactions, though users have the option of paying for data with a stablecoin rather than a cryptocurrency. However, MATIC, the native token of Polygon, is required to cover the cost of Polygon gas.