Ocean Protocol

Ocean Protocol is a decentralised data exchange protocol designed to unlock data for artificial intelligence (AI) and other purposes, enabling data owners to share and monetise their data securely while maintaining control and privacy. It utilises blockchain technology to ensure transparency, trust, and traceability, allowing data to be shared without compromising privacy. 


Ocean Protocol offers Ocean Market for data publishing and monetisation, Data Tokens for access control, and Compute-to-Data for privacy-preserving computations. The Ocean Protocol Blockchain supports the ecosystem, ensuring decentralised data sharing. OceanDAO provides grants and funding to support growth and development.

The market capitalisation of Ocean Protocol is approximately $407 million, with a circulating supply of 568 million OCEAN tokens out of a total supply of 1.41 billion. The OCEAN token serves as the utility token within the ecosystem, used for accessing data services, governance, and rewarding participants. The company has also raised $5 million in funding.

Ocean Protocol has formed strategic partnerships to expand its ecosystem. Notably, it has collaborated with Aethir, a leader in decentralised cloud computing, to expand access to decentralised computing for AI builders. Additionally, Ocean Protocol is part of the Artificial Superintelligence (ASI) Alliance, along with Fetch.ai and SingularityNET, aiming to advance decentralised AI development.

Ocean Protocol was co-founded in 2017 by Bruce Pon and Trent McConaghy with the goal of creating a decentralised data exchange protocol that would transform how data is shared and utilised. Recognising the increasing importance of data in the digital age, they aimed to develop a system that would enable secure, transparent, and efficient data sharing while ensuring privacy and control for data owners. Ocean Protocol was designed to unlock data for artificial intelligence (AI) and other applications, facilitating the use of data in ways that benefit both providers and consumers.
 

Bruce Pon, with a background in engineering and business, had previously worked on various blockchain projects, while Trent McConaghy brought his expertise in AI and blockchain to the initiative. Their combined knowledge and experience helped shape a protocol that would bridge the gap between data providers, such as individuals and organisations, and data consumers, including researchers, developers, and businesses. Together, they sought to create a solution that would address the growing need for a secure, transparent, and efficient way to share data without compromising privacy.
 

Ocean Protocol is built on blockchain technology, ensuring transparency, trust, and traceability in data transactions. By using blockchain, the protocol creates a secure, immutable ledger that tracks data sharing, offering verifiable proof of transactions. This allows data owners to have confidence that their data is being used appropriately and that they are fairly compensated. The use of blockchain is central to the protocol’s aim of decentralising the control over data, enabling users to control and manage their data while making it available for monetisation.

One of the protocol’s key innovations is the use of smart contracts and tokenisation. Smart contracts are self-executing agreements with the terms directly written into code, automating the process of data sharing and payments, reducing the need for intermediaries, and improving efficiency. Tokenisation refers to the conversion of data and services into digital tokens, making them tradable on the Ocean marketplace. This enables data to be exchanged easily and securely, and Ocean Protocol’s native token, OCEAN, is used to access data services, participate in governance, and reward users.
 

The mission of Ocean Protocol is to create a more equitable data economy by connecting data providers and consumers in a way that benefits both parties. By allowing data providers to publish and monetise their datasets securely, the protocol enables them to earn value from their data. For consumers, such as researchers, developers, and businesses, the protocol facilitates access to valuable datasets that can drive innovations and discoveries across various industries. This exchange of data helps foster the development of new insights, advancements, and technologies in sectors like AI, healthcare, finance, and smart cities.
 

In healthcare, for instance, Ocean Protocol enables secure data sharing that improves research and treatment outcomes. In finance, it allows for better risk assessment and decision-making through access to diverse data sources. The protocol also supports the development of smart cities by enabling the sharing of urban data that can aid in efficient city planning and management. Additionally, in the research field, Ocean Protocol allows researchers to access large datasets, which can drive scientific breakthroughs and discoveries.

Since its launch, Ocean Protocol has achieved several milestones and made significant progress in the data economy. The protocol has partnered with various organisations, including the World Economic Forum, to develop data policy frameworks, and has been involved in pilot projects that showcase the potential of decentralised data sharing. Ocean Protocol has also been a strong advocate for data sovereignty and privacy, believing that individuals and organisations should have control over their data and how it is shared. This commitment to data sovereignty is reflected in the protocol’s design and governance structure, which ensures that users retain ownership of their data.

Ocean Protocol’s governance model is based on the OceanDAO, a community-driven initiative that supports the development and growth of the ecosystem. OceanDAO funds projects and proposals that align with Ocean Protocol’s mission, and its decentralized voting system ensures that the community has a say in the direction of the protocol. Through this model, Ocean Protocol aims to foster a collaborative, transparent, and inclusive ecosystem that benefits all participants.


As of May 2025, the market capitalisation of Ocean Protocol is approximately $407 million, with a circulating supply of 568 million OCEAN tokens out of a total supply of 1.41 billion. The OCEAN token serves as the utility token within the ecosystem, used for accessing data services, governance, and rewarding participants.

Ocean Protocol's mission is to unlock the value of data for AI and other applications by creating a decentralised data exchange. It aims to empower individuals, businesses, and organisations to share and monetise their data securely while maintaining control and privacy. By using blockchain technology, smart contracts, and tokenisation, Ocean Protocol ensures transparency, trust, and efficiency in data transactions. Its goal is to create a more open and equitable data economy that fosters innovation, enabling data to drive advancements in industries such as research, healthcare, finance, and smart cities. This approach helps build a fairer digital ecosystem.

Ocean Protocol's vision is to build a new data economy where data is easily accessible, securely shared, and fairly monetised. It envisions a world where data ownership is in the hands of individuals and organisations, not controlled by a few big corporations. By leveraging blockchain technology, Ocean Protocol aims to create a transparent and trust-based environment for data exchange. This vision supports innovation and growth in industries like AI, healthcare, and finance, ultimately contributing to a more open, equitable, and efficient global data ecosystem.

Ocean Protocol has garnered significant recognition for its innovative contributions to the data economy. It has been commended for pioneering blockchain-based solutions that enhance data privacy and accessibility. Key accolades include accolades such as the Outstanding Enterprise AI Solution at the AIconics Awards and the Most Promising Data Collaboration Platform by AI Breakthrough Awards. These awards underscore Ocean Protocol's impact in fostering transparent, decentralised data markets that empower individuals and organisations worldwide. Such recognition highlights its role in shaping the future of data sharing and monetisation, ensuring trust, fairness, and efficiency in the digital age.

Ocean Protocol offers a suite of products and services designed to facilitate the secure and efficient sharing, monetising, and utilisation of data. This ecosystem is built on blockchain technology, ensuring transparency, trust, and decentralisation. Here’s a detailed look at their key offerings:
 

Ocean Market

Ocean Market is the flagship product of Ocean Protocol, serving as a decentralised marketplace for data. It allows data owners to publish and monetise their data assets while ensuring control over their data. Key features include:
 

• Data Publishing: Data providers can publish datasets and set terms for their usage, including pricing and access conditions.
• Data Discovery: Consumers can search and discover datasets relevant to their needs. The marketplace uses metadata to make finding data easy and efficient.
• Data Access: Access to datasets is managed through a secure and transparent system using smart contracts. This ensures that only authorised users can access the data.
   

Ocean Data Tokens
 

Data Tokens are a core innovation of Ocean Protocol. They represent the value and access rights to specific datasets. Each dataset on the Ocean Market is tokenised, allowing it to be traded like a digital asset. Important aspects include:
 

• Tokenisation: Datasets are turned into unique Data Tokens, enabling them to be easily traded and used within the ecosystem.
• Liquidity: Data Tokens can be traded on decentralised exchanges, providing liquidity and making it easier for data owners to monetise their assets.
• Staking: Users can stake tokens on datasets they believe have high value, earning rewards and contributing to the dataset’s visibility and credibility.

Compute-to-Data
 

Compute-to-Data is a unique service that allows data computations to be performed without exposing the raw data. This ensures data privacy and security while enabling valuable insights to be extracted. Key elements include:
 

• Privacy-Preserving Computation: Algorithms are sent to the data, rather than the data being moved, ensuring it remains secure and private.
• Access Control: Data owners can set specific conditions under which computations can be performed, maintaining control over their data.
• Integration: This service can be integrated into various applications and industries, such as AI and machine learning, where secure data computation is crucial.
   

Ocean Protocol Blockchain
 

The Ocean Protocol Blockchain underpins the entire ecosystem, providing a decentralised and secure infrastructure for data sharing and monetisation. Key features include:
 

• Smart Contracts: Automated contracts that enforce the terms and conditions of data usage, ensuring transparency and trust.
• Decentralisation: Data transactions are managed across a distributed network, reducing the risk of centralised control and data breaches.
• Interoperability: The blockchain is designed to work seamlessly with other blockchain networks and data platforms, enhancing its usability and reach.

OceanDAO
 

OceanDAO is a community-driven initiative that supports the development and growth of the Ocean Protocol ecosystem. It funds projects and proposals that contribute to the protocol’s mission. Important aspects include:
 

• Funding: Grants and funding are provided to projects that align with Ocean Protocol’s vision, encouraging innovation and development.
• Community Governance: Decisions about funding and project support are made through a decentralised voting process, ensuring community involvement and transparency.
• Ecosystem Growth: By supporting a wide range of projects, OceanDAO helps expand the ecosystem, driving adoption and innovation.

Partnerships and Integrations

Ocean Protocol collaborates with various partners to enhance its offerings and expand its reach. These partnerships help integrate Ocean’s services into different industries and platforms. Key collaborations include:
 

• AI and Machine Learning: Partnerships with AI companies enable secure and efficient data sharing for training and model development.
• Healthcare: Collaborations with healthcare organisations ensure secure and private data sharing for research and patient care.
• Finance: Financial institutions use Ocean Protocol to share and monetise data while maintaining compliance with regulations.