Data: Monetising Data Contributions

Though data is not explicitly listed as a component in the AI economy, it plays a crucial role at almost every step. GPUs crunch terabytes of data stored in data centres, leading to the development of foundation models, which are, in turn, used by applications and services.

Over the years, we have seen the rise of data unions such as Swash and Streamr that reward users for providing data and helping create the data economy. Ocean Protocol, for example, provides a platform for such providers/unions to operate effectively. They can then sell the data on the marketplace. Ocean’s robust framework ensures that the data follows the required laws of the operating countries. The users providing the data would be rewarded via a part of the fee generated by consumers of the data.