H2O, the First Non-pegged Stable Asset for the Web3 Data Economy is Here

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Toronto, Canada, 27th April, 2022, Chainwire

After eight busy months of hard work, the H2O team announced the launch of H2O, an important milestone for the entire Web3 Data Economy. H2O is a non-pegged and decentralized stable asset backed by OCEAN. H2O is now live on Ethereum mainnet.

Across all industries, the transformational power of data is impossible to ignore. McKinsey reports that data “can help unlock USD 3 trillion to USD 5 trillion in economic value.” The Economist writes that “The world’s most valuable resource is no longer oil, but data.” With AI mature enough to unlock the value of data, data is becoming the most important asset on the planet.

In its infancy, the Data Revolution was dominated by Big Tech. Fortunately, Web3 is beginning to capture an important share of the innovation design space, reaping the benefits of the parabolic growth of the data economy with the many in mind, instead of concentrating value in the hands of the few.

While access to data in the Web2 paradigm is gated by mega-corporations like Google, Amazon, and Meta - Web3 brings forward a new way for users and builders to level the playing field for this valuable asset.

No longer do individuals have to remain in the dark or act as passive users without rights to the value they create. It's now 2022, and Ocean Protocol has greatly matured towards realizing its vision of democratizing access to data while preserving the privacy of the ones who create it and respecting the human values of the individuals who otherwise would be considered as mere farmable assets by the Tech Giants.

H2O was conceived to be the stable asset to catalyze trading and staking of data