siliconindia | | June 20218BY SI TEAMCypher Capital, a venture capital firm located in the UAE, today announced that it has set up an ecosystem fund together with Ocean Protocol according to which it will be allocating $5 million to invest in Ocean Protocol projects. Ocean Protocol is a platform for data exchange and monetization that builds on Ethereum and other EVM-compatible blockchains. Ocean Protocol is available on WazirX, India's Most Trusted Bitcoin & Cryptocurrency Exchange.The open-source protocol facilitates the exchange and monetization of data and data-based services, allowing people to buy and share information securely while preserving privacy. Ocean Protocol makes use of "datatokens" to give businesses and individuals access to data, where tokens can be redeemed to access information.Ocean Protocol aims to build a new Data Economy powered by a dynamic group of builders and start-ups. So far, over 150 projects have been funded via OceanDAO and Shipyard programs to encourage and support grassroots innovation. Projects like Algovera, DataUnion, Data Whale, DataX, Felt, Ocean Pearl, Swash and Transport Genie are some of the many funded initiatives that are now positioned as catalysts for Ocean's wide scale adoption. Created by an Indian Founder, Manan Patel, DataX aims to further the IN FOCUSCYPHER CAPITAL ALLOCATES $5 MILLION FUND TO INVEST IN OCEAN PROTOCOL ECOSYSTEM PROJECTS
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