Name of project: Cluster Finance
Website : Cluster Finance
We are a new project and asking funds for first time in OceanDAO
Proposal Wallet Address :
The proposal in one sentence :
Cluster is a easy to use non-crypto friendly data union toolkit built on Ocean Protocol. Think ‘shopify’ or ‘stripe’ but for data unions with native Ocean Protocol integration.
Which category best describes your project? Pick one or more.
Build / improve applications or integrations to Ocean.
Project Description :
Cluster finance aims to be a toolkit for developers around the world to easily build data centric apps like data unions and social networks on Ocean Protocol. For example, if Facebook decides to give more power to users by sharing ad revenue and data control rights to its users, then they would ‘clusterify’ their platfrom with few lines on code using our toolkit and monetise their data on Ocean Protocol with built-in revenue share and data ownership features. It’s as simple as that.
Cluster comes with many in-built features
- Maintain fractional ownership
- Revenue split with users
- Finer access control over data
- Lifetime royalty on user contribution
- Data curation and filtering for PII
- In-built support for regulatory compliance
So, what could be built or integrated with Cluster?
- Social networks (e.g. Facebook)
- Video/audio streaming apps (e.g. Netflix)
- Data Unions (e.g. Swash, GeoDB),
- Telegram/Discord bots that incentivizes productive behaviour in groups.
Possibilities are many.
What problem is your project solving?
Ocean Protocol has developed very intuitive tech for sharing and monetising datasets in a permissionless and trustless manner while maintaining data privacy and data ownership. However, the current tech stack caters mostly to individual datasets. This is beneficial and has use cases for institutions and corporations with numerous and large datasets. But, it does not cater to smaller datasets like someone’s credit scoring data or individual’s smart watch data.
This is because an individual’s dataset is tiny and not that valuable. Institutions and data scientists cannot extract enough value out of it. Because AI needs data. Solution is to create a data union which aggregates similar datasets into a giant dataset which becomes valuable for a lot of use cases.
But there is no simplified toolkit (drag, drop - shopify style or code snippets - stripe style) that devs can use to create data unions apps or integrate data unions into their existing apps. We aim to build that and solve this problem.
What is the final product?
web based platform
How does this project drive value to the Ocean ecosystem?
Cluster will provide a toolkit and platform for devs to integrate their existing apps or create new data union apps directly on Ocean Protocol. This will not only open data flood gates on Ocean Market but will also help with the adoption.
Currently, there are very handful of data unions built on Ocean like Swash and DataUnion.app. It’s because creating data unions is difficult. But with Cluster, creating data unions will be a breeze (thats our ultimate goal). This will increase no. of apps building on Ocean Protocol.
More apps on Ocean Protocol will bring and attract more users on Ocean Protocol, leading to more usage and hence giving way to adoption.
Calculations for ROI
Let’s take example of one of the popular data union dapp being built on Ocean Protocol - DataUnion.app
Total funding for dataunion until now has been about 87300 OCEAN (source - Dataunion proposal from Round 6). And they are doing amazing job at building it. But, it is one data union dapp. Ocean needs tens of unions for mass adoption. Clsuter can unlock that.
Conservatively considering that Cluster will help create 10 more data unions on Ocean Protocol. If these apps started from scratch and asked for funding from OceanDAO till now, it would have costed OceanDAO about 873,000 OCEAN. But with Cluster they dont need extra work to be done on Ocean Tech. All they have to focus on building their user experience and growing their userbase.
So Bang here comes down to 873,000 OCEAN
Buck = 32,000 OCEAN
So ROI = bang / buck = 873,000 / 32,000 = 27.28
Our estimate of % chance of success = 50%
So expected ROI = 0.5 * 27.28 = 13.64
- web3 wallet creation and binding to a cluster
- create and register a cluster (cluster is a data union)
- create datatokens for new clusters (using Ocean Protocol in-built)
- register new members to cluster
- adding data points to cluster
Our best estimate for deliverables is end of September 2021 or earlier.
Cluster Finance is being built by HashMesh Labs