We’ve partnered with data sharing ecosystem Ocean Protocol to create a new data marketplace for energy! Verv Follow May 10, 2018 · 3 min read

We’re delighted to announce a partnership with blockchain-based data ecosystem, Ocean Protocol, as we look to create a new energy marketplace using our energy trading platform and accompanying VLUX token.

Through the partnership, Ocean will facilitate the creation of our own data marketplace, empowering consumers to take control of their electrical data, where it goes and monetise it.

Our peer-to-peer energy trading platform is based on our AI-based smart hub (IoT device) that can obtain a comprehensive and real-time overview of the electricity consumption of a home. The high frequency at which the hub can sample home energy allows it to unlock vasts amounts of big data, not previously tapped into, that we want to give our customers the opportunity to sell should they so wish in order to get money off of their electricity bills.

This includes data around consumption, renewable tech, purchasing habits, suppliers and home appliances, some of which extends beyond just the energy industry.

Our goal is to create a data marketplace where consumers are empowered to have full control over their data and are given the opportunity to monetise it should they choose to share it. Ultimately, we’re aware that the data provided by our smart hub and energy trading platform is extremely valuable to third party manufacturers and strongly believe that consumers should have the opportunity to benefit from that in a way that’s fully GDPR compliant.

Ocean Protocol has recognised the exponential growth of the world’s data and the opportunity to unlock it with its blockchain-based ecosystem. With a particular focus on AI, this seemed like a natural partnership between the two companies. Ocean uses blockchain to allow data to be shared and sold in a safe, secure and transparent manner.

By integrating Verv with the Ocean ecosystem, we will not only have the opportunity to use their data trading system but also create a new-form marketplace focused on the consumer.

“Verv is developing AI technology that uses data to save energy and costs for homeowners, while supporting sustainability and smarter homes. We are excited to work with them to build a data marketplace that uses the data availability and service verification proofs of Ocean Protocol” said Bruce Pon, Founder of Ocean Protocol Foundation.

“We see further synergies to integrate their technology into our Singapore development sprints, so that a vibrant ecosystem of data providers and consumers can share data securely” he added.

As part of the collaboration, Bruce Pon of Ocean Protocol will also be joining the Advisory Board for Verv.

Speaking of the partnership, Verv CEO & Founder Peter Davies said: “Ocean’s aim is to unlock data, particularly for AI. At Verv, data is absolutely core to the quality of our service offering which is why we are so intrigued by their proposition.”

He added, “Ocean Protocol will facilitate a multitude of data marketplaces, one of which will be the Verv energy marketplace for electricity data. This will allow our consumers to have control over their own data, who they give it to and benefit financially from sharing it with third parties.”

The pre-sale for our Initial Token Offering is live now at www.vlux.io!