SmartPlaces partners with Ocean Protocol to unlock data monetization for Web3 social interaction app
This story was originally posted on the Ocean Protocol Medium. It has been duplicated here for consistency
SmartPlaces Protocol is partnering with Ocean Protocol to enable users who contribute to social interactions through the SmartPlaces app to securely monetize their data while preserving their privacy.
The mission behind SmartPlaces Protocol is to provide users with a new way of social interaction based on the benefits of blockchain technology. SmartPlaces Protocol makes it possible for people to interact and connect in real-world situations. This is done through a geo-location based mobile application that allows them to make their thoughts and interests visible for others in a direct real-life environment.
With the “1-click-wingman”, people can easily seize everyday’s life opportunities and immediately connect with others. The hyper-localized application will be launched at a later stage in 2022 and, based on strategic partnerships, it will be made available in approx. 40 countries. In addition, SmartPlaces will provide use cases for the Metaverse, as it allows users to earn an identity and trust label based on the volume and the quality of real-life interactions with the others.
The SmartPlaces app data will be shared and monetized on Ocean Market. Ocean’s Compute-to-Data technology aligns perfectly with SmartPlaces Protocol’s need, as it provides a means to exchange data while preserving privacy — the data stays on-premise with the data provider, and data consumers can run compute jobs on the data — to train AI models.
Bruce Pon, CEO of Ocean Protocol, commented:
The current data economy is not inclusive, transparent, nor does it allow for easy entry and access. The collaboration between Ocean and SmartPlaces Protocol is adding to the opportunities for people to take control over their data and monetize–this is the social media of tomorrow, fair, responsible, open, beneficial for everyone who is a part of it.
Hung Luu, CEO of SmartPlaces Protocol added that:
The digitalised world lacks real-life interactions between people. Smart Places Protocol’s vision is to create a new era of social interaction by engaging people to connect with others. I’m sure that our values and vision have the potential to align decentralized technologies with everyone on a real social level. We believe that Ocean Protocol could play a major role in enabling this ambitious but realistic plan in a distributed way. We envision that our cooperation will build a redistributed social data ecosystem, by being a solid proposition to our society.
We’re aware that the data produced by the user’s activities, like geolocation, consuming behaviors, and other metadata is private and must be protected. With Ocean Protocol we’re sure to have the right partner to combine privacy requirements with opportunities for monetizing these data in favor of the users, says Björn Heinze (COO & Legal) expert and specialist in data protection / GDPR.
About Ocean Protocol
Ocean Protocol is a decentralized data exchange platform spearheading the movement to unlock a new Data Economy, break down data silos, and open access to quality data. Ocean’s intuitive marketplace technology allows data to be published, discovered, and consumed in a secure, privacy-preserving manner. By giving power back to data owners, Ocean resolves the tradeoff between using private data and its public exposure.
About SmartPlaces Protocol
SmartPlaces’ mission is to provide users with a new way of social interaction based on the benefits of blockchain technology and to build a decentralized ecosystem. As a result, SmartPlaces Protocol helps to (re)connect people in real life and creates unique user experiences.
SmartPlaces Protocol introduces the “connect2earn” approach and rewards all users who contribute to interact with other users. SmartPlaces Protocol will also allow users to earn NFT-based identity and trust label that covers various use cases within the Metaverse.
We’ll keep you informed with further information about our project!
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