Automating Private Business Intelligence with Ocean Protocol, Fetch.ai and Datarella
Big Tech has taken control over your data privacy to help them addict you to their apps. But Ocean Protocol and Fetch.ai are building the industry’s next best data tooling to solve data privacy problems while keeping your apps epic too.
The ‘Ocean’ of Data
Ocean Protocol is an ecosystem of open-source tools for data exchange on the blockchain. The protocol enables software applications to consume user data in a secure and privacy-preserving fashion using Web3 technology. Ocean Protocol’s smart contracts include permissioned datatokens and data NFTs that enable IP rights management in data wallets. Ocean Protocol tools are built to extract value from data by improving its algorithmic accessibility & security.
Ocean Market is the primary use case of Ocean Protocol’s smart contracts. Data and algorithms can be bought and sold on Ocean Market with token-gated accessibility to computation. Ocean Protocol’s data market is becoming an industry best practice architecture for sharing private data securely — MoveID consortium and GAIA-X (where Datarella is also a partner) use Ocean Market code to exchange data! Indeed, spinoffs of the Ocean Market are already being used in the wild (see Pontus-X for a GDPR compliant example).
That’s So Fetch!
Fetch.ai offers powerful open-source software tools that leverage AI and automation algorithms on-chain to carry out complex tasks in the Web3 digital economy. Fetch’s Autonomous Economic Agents (AEAs) and Microagents gather resources and execute smart contracts using their own private keys to transact business logic autonomously. AEAs delegate on-chain tasks and record their completion, providing auditable traces of transaction history. A popular use case of Fetch’s protocol is its stop loss agents that allow traders to autonomously provision liquidity on DeFi protocols and avoid manual transactions.
Getting Smart Recommendations Without Forking Over Your Data Privacy
Nowadays, smart recommendations in software apps are standard practice to improve these applications’ usability and retention. For example, Amazon curates and recommends relevant products to our feeds based on our recent search history. However, to gain such smart recommendations, we sacrifice our data privacy. Such applications leverage data lakes full of our historical user data to provide these smart recommendations. Not only does this strategy compromise individuals’ data privacy, but it increases the security risk for hacking such valuable data aggregated in one place. What if there was an elegant solution to both get excellent smart recommendations in apps and protect user privacy concerns?
From this idea, the integration of Fetch.ai’s Autonomous Economic Agents with Ocean Protocol’s Compute-to-Data (C2D) workflow was born.
In this software release, Ocean Protocol smart contracts for Compute-to-Data interface with AEAs to exchange their data on-chain while protecting user data privacy!
Let’s describe an excellent use case for the Ocean Protocol and Fetch.ai integration: In the realm of IoT devices, this tech integration now makes it possible for IoT devices to determine based on their location and other algorithmic conditions when and how to publish their data on-chain for sale. Data consumers on-chain can query and purchase the data that they need from these IoT outputs. Together, this approach provides the basis for autonomous adaptive machine learning without having to scrape data online.
Ocean Protocol x Fetch.ai x Datarella
TL;DR: By enabling Fetch Agents to post data to Ocean Marketplace Compute-to-Data recommendation engines can be driven without violating privacy.
Ocean Protocol has joined forces with Fetch.ai and Datarella over the last few months to build an Ocean Connection Agent to take private data available to itself, store it confidentially, and then spin up a fixed-rate exchange on the Ocean Market or with C2D enabled as shown in the previous figure. You can imagine that in the near future, this might be your current location data or data about your preferences or searches performed locally within an app (the MOBIX app for example). This data never leaves the sovereign control of the user and the user doesn’t have to worry about handling or organizing or authorizing the data because the AEA does that on behalf of the user well, autonomously! The same applies to companies running AEAs on IoT devices too. You might be asking now why this is even beneficial. It’s useful because it solves the problems associated with those vast data lakes that are driving the recommendation engines behind all sorts of “smart” services.
Protecting User Privacy and Developing Business Intelligence On-Chain
Ocean Protocol’s Ocean Market offers data and algorithms for sale on-chain, without any centralized control. Ocean’s Compute-to-Data smart contracts enable dApps and AEAs to publish data and algorithms privately while only selling the computational output of these datasets. The computed insights of the data that are sold, rather than the data itself!
In the primary use case for the Fetch.ai and Ocean Protocol integration, smart apps are then able to use this architecture to produce context-aware recommendations, without accessing users’ data directly. This architecture obfuscates user data to only permit the app to see data insights using C2D. Such decentralized tooling enables compliance with strict privacy regulations such as GDPR, HIPAA, etc.
The world of data-sharing is changing quickly — and we’re setting the industry best standards of keeping your data private from algorithms while still gaining new context-aware smart recommendations to improve in-app user experiences. Coupling the Ocean Market with Fetch.ai AEAs means for the everyday person that it’s increasingly going to be possible that you can have your (data) cake and eat it too. You won’t have to choose between amazing functionality and privacy — you’ll be able to have both.
Developer Resources
Dive into the code for Fetch.ai and Ocean Protocol on Github — it’s open-source! Similarly, the docs for Ocean Protocol and Fetch.ai provide valuable explanations on how to use this integration. If you’re already an AEA developer, then check out the package in the AEA registry. In the near future, we’re also planning to release the Storj AEA but for now, you can take any S3-compatible storage you choose. Let’s start automating private business intelligence generation! Lastly, jump into the Ocean Protocol or Fetch.ai Discord servers to chat with the engineers directly!
Ocean Protocol was founded to level the playing field for AI and data. Ocean tools enable people to privately & securely publish, exchange, and consume data.
Follow Ocean Protocol on Twitter or Telegram to keep up to date. Chat directly with the Ocean community on Discord. Or, track Ocean progress directly on GitHub.
