Mercedes Benz relies on Polygon blockchain for data sharing, MATIC up 10%

The Southeast Asian arm of Mercedes Benz parent company Daimler Group has announced that it will leverage the Polygon (MATIC) scalability platform to launch its blockchain-based data sharing platform.

The platform, called Acentrik, will allow users to buy and sell data. This blockchain platform will allow users to exchange various data, including insurance information, clinical trials, etc. For privacy-minded users, they can share data in a privacy-preserving way only to calculate results, but without sharing the underlying results.

Acentrik is certainly not the first blockchain-based data sharing initiative to leverage blockchain technology. However, unlike other players, Acentrik uses a non-fungible token (NFT). to represent each dataset, along with a hash of the metadata stored with it.

The Ledger Insights report indicates that data buying and selling will continue on the Rinkeby test network. In addition, companies are also looking to preserve the monetary value of data. They are doing so by paying for data using stable currencies, which are linked to fiat currency.

Interestingly, all transactions will take place on Polygon’s blockchain network. Therefore, users will have to pay the gas rate using the MATIC network’s native cryptocurrency. Once the transaction is complete, the buyer can access the underlying data stored in AWS53 or IPFS.

Sandeep Nailwal, co-founder of Polygon, said of this:

Mercedes benz is the latest brand to be powered by Polygon on the go!

This initiative is a testament to the growing confidence of consumer brands in Polygon. As a result, Polygon is emerging as one of the leading blockchain platforms among enterprises…

Data exchange via blockchain

Data sharing is a very sensitive issue in today’s exploding internet world. However, with the growth of online services, the need for data sharing has exploded in various sectors, including technology. Next-generation technologies, such as artificial intelligence, require a large amount of data to function effectively.

On the other hand, high-tech organizations have accumulated a large amount of data that they took years and decades to collect. However, companies that didn’t have the chance to join early can be part of the blockchain-based data sharing initiative.

This will certainly help them position themselves in this highly data-driven competitive world. Moreover, sharing data through blockchain ensures greater security and privacy for users.

MATIC price soars by 10%.

Polygon’s native cryptocurrency, MATIC, has been on a roll recently. In the past 24 hours, MATIC’s price has soared more than 10 percent and the crypto is now trading at 88 cents. On the development front, Polygon recently unveiled its zkEVM solution, which offers significantly better performance while maintaining the security of the Ethereum network…