Polygon and Mercedes-Benz to Introduce a New Data Exchange Platform

Polygon and Mercedes-Benz to Introduce a New Data Exchange Platform
  • The new Acentrik platform will allow users to buy and trade various types of data.
  • Each Acentrik dataset is represented by an NFT, which contains a metadata hash.

The parent company of Mercedes Benz, the Daimler Group, has recently revealed that the company’s South East Asia division will release its blockchain-based data sharing platform, called Acentrik, using the Ethereum Layer-2 scaling solution, Polygon.

The Acentrik will enable its users to buy and trade data. The users will be able to trade a variety of data on this blockchain-based platform, including insurance details, results of scientific trials, and much more. Additionally, Acentrik’s data are not saved on the blockchain, in contrast to the majority of platforms with comparable efforts. Each dataset is represented by a non-fungible token (NFT), and a metadata hash is saved with it.

A New Platform for Data Exchange

As per reports, the data will be bought and sold on the Polygon and Ethereum Rinkeby test networks. Enterprises are anticipated to pay for the data using stablecoins as part of measures to safeguard its monetary value. Users have to use MATIC, the network’s native coin, to pay gas fees because transactions take place on Polygon. Also, the buyers can obtain the underlying data that is kept on AWS S3 or IPFS when the transaction is completed.

According to Sandeep Nailwal, co-founder of Polygon, the project demonstrates the rising confidence that major brands have in Polygon. Also, Polygon is quickly becoming one of the most popular blockchain platforms among businesses.

At the same time, Polygon (MATIC) is currently trading around $0.959712 with a 24-hour trading volume of $1,939,486,504, as per CMC. Polygon is up 9.30% in the last 24 hours. At the time of writing, the live market cap of Polygon is $7,708,217,448. 

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