The Concept of Development

Ontact Protocol aims to build a decentralized Web 3.0-based IoT ecosystem.

• Efficient sharing of data resources:

In the industrialization era, material assets such as raw materials, energy, manpower, and land were recognized as important resources. However, as we enter the 4th industrial age, non-material assets, that is information, knowledge, and data rather than existing material assets are recognized as the most important resources. In particular, data is called “the crude oil of the 4th industrial age” and has become a basic resource for all 4th industries such as big data and artificial intelligence (AI).

Efficient sharing of basic resources is a prerequisite for the affluent growth of industry and society. We believe that it will be possible to achieve data democracy for individuals, businesses, and society as a whole through the establishment of a decentralized IoT ecosystem.

In the industrialization era, material assets such as raw materials, energy, manpower, and land were recognized as important resources. However, as we enter the 4th industrial age, non-material assets, that is information, knowledge, and data rather than existing material assets are recognized as the most important resources. In particular, data is called “the crude oil of the 4th industrial age” and has become a basic resource for all 4th industries such as big data and artificial intelligence (AI).

Efficient sharing of basic resources is a prerequisite for the affluent growth of industry and society. We believe that it will be possible to achieve data democracy for individuals, businesses, and society as a whole through the establishment of a decentralized IoT ecosystem.

• l Decentralized value transaction platform establishment in DAO (Decentralized Autonomous Organization) way:

In order to build a Web 3.0-based IoT ecosystem, a platform that can effectively trade such data while protecting the data sovereignty of each participant is essential. In the Web 3.0 ecosystem, these platforms are built as decentralized systems rather than centralized ones.

We aim to build a decentralized autonomous organization (DAO) type trading platform where decisions about platform operations, such as measuring the value of data, delivering, and setting transaction fees, are not made by specific centralized companies or agencies.