The Mercedes-Benz Group’s Singapore hub Daimler South East Asia has launched Acentrik, a blockchain-based data sharing network or “decentralized data marketplace” leveraging Polygon.
Businesses will be able to buy and sell data in a decentralized setting thanks to the new data-sharing platform.
Despite the fact that it is a Mercedes-Benz affiliate product, Acentrik will be used to exchange data from a variety of businesses, including insurance information, scientific studies, and clinical trials data.
It is tailored to corporate users, with Know Your Business and other stringent access controls. Instead of storing the data on the blockchain, NFT represents each dataset and stores a metadata hash with it.
Transactions are carried out on the Polygon or the Ethereum Rinkeby test network. Users will be required to pay gas fees in MATIC, the network’s native cryptocurrency.
When the transaction is completed, the buyer will have access to the underlying data, which is stored on AWS 53 or IPFS.
The Polygon CEO said in a tweet, “The initiative further showcases the widespread adoption of the Polygon network by top brands. Polygon continues to showcase its potential as one of the top blockchain platforms enterprises can rely on.”