Mercedes Benz Uses Polygon (MATIC) To Launch Data Sharing Platform
Daimler South East Asia, part of the Mercedes Benz Group, is using Ethereum Layer-2 scaling solution Polygon to launch a blockchain-based data exchange platform. The platform, dubbed Acentrik, will allow businesses to buy and sell data.
Acentrik can be used to trade data ranging from insurance information to clinical trials. 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 with a metadata hash stored with it.
Buying and selling data will be carried out on the testnet Polygon and Ethereum Rinkeby. As part of efforts to protect the monetary value of data, businesses are expected to make payments for data using stablecoins. Since transactions are conducted on Polygon, users will have to pay for gas using the network's native cryptocurrency, MATIC. After the transaction is completed, the buyer can access the underlying data stored in AWS 53 or IPFS.