- Mercedes-Benz uses its Acentrik product to win the Industry Innovator of the Year award in the just-ended Tech Ascension Awards.
- This product was recently deployed on the Polygon network to provide enterprise-grade tools to organizations.
It was recently reported that Acentrik, a strategic initiative by Mercedes-Benz, has been deployed on the Polygon network to provide enterprise-grade tools to organizations. According to the latest report, Mercedes-Benz Singapore has, thanks to its Acentrik product, won the Industry Innovator of the Year in 2023’s Tech Ascension Awards. It was nominated in the Big Data category.
Its deployment on Polygon has contributed exceptionally to the area of data exchange. Its uniqueness comes from its ability to address the critical challenges of data silos within enterprises. The partnership with the Polygon blockchain and its business model innovation makes it possible to provide solutions across multiple industries.
Acentrik ensures that enterprises are connected to consume and share data in an open ecosystem. It is important to note that the Tech Ascension Awards only awards the very best Innovations in technology. The award scheme also uses technology innovation, market research, and competitive differentiators to judge applicants.
How Acentrik works
Acentrik has its state-of-the-art technology properties of peer-to-peer nature and immutability, and transparency to translate all benefits to enterprises. Based on tokenization principles, it verifies data ownership through tokens representing access and controls. This enables data to stay within the control of the owner.
Acentrik’s standout feature is its pioneering Compute-to-Data approach, coupled with edge computing capabilities. This innovative feature allows privacy-preserving compute jobs to be performed in a trusted environment. By bringing algorithms to the data instead of transferring the raw data, Acentrik provides an unparalleled level of data privacy and security. Confidential data remains within the data provider’s environment, ensuring compliance and protecting against access to the raw data.
According to reports, Acentrik’s combined features, including its blockchain foundation, and Compute-to-Data capabilities, makes it unique and spearheads data exchange innovations. This sets it apart from its competitors. It also resolves critical market and end-user challenges by connecting enterprises to their deeper data sources.
It takes out data silos’ barriers and ensures that organizations unlock the true value of their data asset. Some of its business outcomes include the provision of new opportunities for data monetization through external data sharing. It as well empowers new organizations to assess new revenue generation streams.
Acentrik fosters process refinement and optimization by facilitating internal data sharing, driving operational efficiency, and improving decision-making. Additionally, as a turnkey solution, Acentrik empowers enterprises to build their own data exchange platforms, tailored to their unique needs and ecosystem.
The achievement of Acentrik is expected to accelerate Polygon adoption and boost the MATIC price. In the first quarter of 2023, Polygon became the most favorable destination for brands as it received 41 percent of the total share of brands establishing blockchain projects within the Web3 ecosystem. This was followed by Ethereum with a 34 percent share. It is so far the go-to place for larger institutions that seek to make an entry into Web3.
MATIC is, however, struggling to make gains in the market as it declined by 7.7 percent in the last seven days to trade at $0.673456.
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