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Ocean Protocol, a project that allows users to monetize their data by using special Ethereum-based datatokens and preserve their privacy and control at the same time, recently announced its first Ocean Shipyard grantee this year. The project’s announcement revealed Athena Protocol as the supported project, with Ocean noting that Athena will add value to the ecosystem. It can do this by developing an interface to accredit data prior to publishing and introducing easy-to-consume climate datasets.
NEW| @_AthenaProtocol is Ocean Shipyard's first grantee of 2022! 🚀
Athena will add value to the ecosystem by developing an interface to accredit data prior to publishing and introducing easy-to-consume climate datasets🌊
Let's unpack!👇 pic.twitter.com/ylr0vSSzhT
— Ocean Protocol (@oceanprotocol) July 18, 2022
The value of the Athena Protocol
The project explained its original statement by noting that Athena’s mission is to build IoT and computing solutions that would remove the gap between the on-chain and off-chain worlds. As a result, the projects would ensure transparency, equity, and algorithmic accountability in automated data collection and verification processes.
Furthermore, the project facilitates the ethical collection of data on a global scale and leverages the SolarPunk network (SPN). As a consequence, this allows for real-time monitoring without sacrificing privacy, which is typically what other centralized services have to do.
The project then discussed the impact on the move on Ocean Protocol’s ecosystem, noting that Athena is expected to develop an interface for proposing data assets and managing asset portfolios by September of this year. With it, the team will be able to focus on processes and procedures involving Social Credentials and data NFTs.
Furthermore, the first ESG asset verification suite v1 will be accredited and published after that. The project did not share the exact date, but it did note that it will be very soon after, which will allow for multi-token contracts for algorithmic consensus. Moving on, two separate pilots, each with full-scale ESG MRV project proponents to quantify ecosystem services, will also be launched.
Finally, as the year approaches its end in December 2022, the plan is to have finalized the design and token model for $ATHENA. At that point, the ESG verification suite v2 will also be deployed.
Time to move forward
The project concluded the announcement by noting that applications for the next wave of Shipyard contenders are still open, and anyone who has an idea to create something that would bring value to the Ocean Protocol and its ecosystem is welcome to apply and share the concept of their project.
Athena Protocol has been the first one this year to do so, and Ocean loved its initiative, as well as its plans and roadmap, which is why it was selected as the first winner. Athena Protocol Corp's CEO, Timothy Carter, commented on the move by saying that the Ocean Protocol Foundation and the Shipyard program go above and beyond to offer support for the work that results in bridging the gap between blockchain and the real world.
The project’s tools and services will add credibility to data assets on the Ocean market, unlocking completely new use cases, and Shipyard’s own support allows the entire ecosystem to move ahead with confidence in its development.
To learn more visit our Investing in Ocean Protocol guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.