AllianceBlock Launches Data Tunnel MVP
AllianceBlock, a decentralized capital market, has launched the AllianceBlock Data Tunnel MVP, a data marketplace that allows data providers in both DeFi and traditional finance to benefit from access to users of both spaces. The Data Tunnel makes it possible to publish, monetize and use data in a decentralized and simple way, without needing to understand blockchain, while ensuring traceability, transparency, and trust, the company said.
AllianceBlock’s cross-chain scalable Data Tunnel also simplifies usability for data consumers and developers through a standardized output format. Features include full support for files of any size; revenue sharing; a subscription service; a native query language; and payment through ALBT, the AllianceBlock token.
“Datasets are hard to monetize and often come in incompatible formats,” cofounder and CTO Matthijs DeVries said. “Thus, data often becomes siloed. Further, once data is shared with another party, it is difficult to trace. The AllianceBlock Data Tunnel will become the oracle of oracles in its ability to take data from select oracles to the Data Tunnel and not only simplify it but also enrich it, and then channel it back to providers. In this way, it is the ‘tunnel’ through which DeFi and TradFi users can access and take advantage of increased data opportunities.”
The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 creating a new financial infrastructure. To achieve this, the protocol is focusing on compliance and regulation, data, and DeFi technology. Since its inception, AllianceBlock has announced partnerships with Chainlink, Ocean Protocol, Injective Protocol, Orion Protocol and CertiK, as well as with the London Stock Exchange Group Partner Program.
“It’s a big data world, but the extent of big data’s value is not yet realized, and the buying and selling of data is difficult,” AllianceBlock cofounder and CEO Rachid Ajaja said. “The product will enable a host of possibilities for SMEs, both inside and outside the blockchain industry, allowing them to monetize data while maintaining control. This could include anything from city planning and utilization data to water quality measurements of a country, traffic flow on a highway, or power consumption statistics. The AllianceBlock Data Tunnel is an important step toward the creation of a fully decentralized capital market.”
The company is spearheaded by a team of ex-JP Morgan, Barclays, BNP Paribas, and Goldman Sachs investment bankers and quants.