Widespread adoption of the popular altcoin Polygon in various industries continues to gain momentum. Daimler South East Asia, part of the Mercedes Benz Group, is leveraging the Ethereum Layer-2 scaling solution Polygon to launch a blockchain-based data sharing platform. Here are the details…
Mercedes Benz and Polygon form partnership
Called Acentric, the platform will enable businesses to buy and sell data. Although Acentrik is launched by a Mercedes-Benz partner, the blockchain platform can be used to trade different data, from insurance information to clinical trials, among others. Unlike most platforms with similar initiatives, Acentrik’s data is not stored on the Blockchain. According to the Ledger Insight report, a non-fungible token (NFT) is used to represent each dataset, along with a metaverse hash stored with it.
https://twitter.com/sandeepnailwal/status/1552288590020849664
According to the report, trading of the data will be done via the Polygon and Ethereum Rinkeby testnet. As part of efforts to preserve the monetary value of data, businesses are expected to pay for data using stablecoins. However, since transactions are processed on Polygon, users will have to pay gas fees using the network’s native cryptocurrency MATIC. After the transaction is complete, the receiver can access the underlying data stored in AWS 53 or IPFS. Meanwhile, Sandeep Nailwal, co-founder of Polygon, took to Twitter to celebrate the success:
Mercedes Benz is the latest brand powered by Polygon Onwards!
Polygon mesh adoption is growing
The initiative demonstrates the widespread adoption of the Polygon network by top brands. Polygon continues to showcase its potential as one of the best Blockchain platforms businesses can trust. There is a need for data sharing between various industries, including technology. Machine learning and Artificial Intelligence require a lot of data to work effectively. Some businesses have enough data that takes years to collect, while others are not lucky enough to get started early.
Fortunately, organizations that do not have the early start privilege can benefit from the data sharing initiative. Trent McConaghy, co-founder of Ocean Protocol, explained in an interview that Google’s self-driving car startup Waymo is ahead of other businesses as it has been working on the solution for years.
Altcoin price appreciates
Meanwhile, MATIC has gained 7.6 percent, according to the data. Currently, the cryptocurrency is changing hands at $0.0877. It rallied to an intraday high of $0.90. Ranked 12th with a market cap of $7.04 billion, the cryptocurrency is about 70 percent below the record level of $2.92 recorded on December 27, 2021.
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