Daimler South East Asia has introduced a blockchain-based data sharing network, a part of the Mercedes Benz Group, using Polygon, an Ethereum Layer-2 scaling solution.
The platform dubbed Acentrik will enable enterprises to buy and sell data. Although a Mercedes-Benz associate launched Acentrik, the blockchain platform can be used to trade different data ranging from insurance information to clinical trials, among others.
The blockchain will utilize the data from its users in a decentralized way. This includes car insurance, data trials, and others.
The information gathered from the users will be stored in the blockchain with a non-fungible token (NFT) representing each piece of data stored with it.
Buying and selling of the data will be conducted on Polygon and Ethereum Rinkeby test network. Since the transaction will be performed on Polygon, users will be required to pay gas fees using the network’s native cryptocurrency, MATIC.
Following the announcement, MATIC’s price increased by 10% to a day high of $0.90 from CoinGecko.
