Ocean Protocol is the latest blockchain platform to hit the market. By using the decentralized ledger, users will be able to transfer data across borders.
Healthcare companies, startups, governments and data and artificial intelligence experts will have access to move data among themselves using the blockchain system, set to launch by the end of the month.
"Due to concerns around control, privacy and security, people are afraid to share data," Ocean Protocol founder Trent McConaghy said. Hospitals and health systems are among the industries with privacy and security concerns due to the amount of data and personal information they hold.
Now these healthcare providers can use blockchain technology and smart contracts to better ensure safe and secure data-sharing. Users will have control and auditability to protect privacy as well as access to improved transparency within the payment system.
"Our goal is to remove frictions in data-sharing, breakdown data silos and equalize access to data so that it can be applied to advance industries and solve societal problems. It's time that people gain back control and actively participate in an open data economy," Mr. McConaghy said.