A subsidiary group of automobile giants Mercedes-Benz, Daimler South East Asia, has partnered with Polygon Blockchain to develop a data exchange system that will be hosted on Ethereum’s Layer-2 scaling platform. The data sharing system is named Acentrik, and will allow companies to perform data transactions.

Acentrik will allow corporations to buy and sell data without any middle men on a decentralized protocol. Polygon will contribute to the project by providing data exchange between companies from different sectors that are affiliated to Mercedes Benz.

On Acentrik, the data will not be stored on the protocol. Rather, a metadata set will be stored on datasets which will be represented by non-fungible tokens (NFTs). The data-sharing protocol is being specifically developed for large-scale use and will include a KYB (Know-Your-Business) feature and others which are restricted to corporate use only.

Companies can carry out transactions on the data exchange platform on any of the public chains hosted on the Polygon network but users will have the choice to select whether to pay for their data processing using stable coins or other cryptocurrencies. Also, the gas fee for Polygon will be paid in the blockchain’s native token (MATIC). Once the client’s payment is confirmed, the platform will store the data on either the IPFS protocol or the AWS S3 protocol.

Polygon’s co-founder, Sandeep Nailwall was the one who revealed that the popular automobile giant is the most recent brand to be powered by the Polygon blockchain. Nailwall stated that Polygon is a special technology that makes data hosting and sharing seamless. The Polygon network has been one of the most consistent performers in the blockchain industry and this new partnership will produce more innovative ideas to partner using the platform.

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