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Ocean Protocol CEO: The 'potential' from Intersecting 'AI and blockchain' is 'massive'

Web3/Crypto

Bruce Pon, co-founder and CEO of Ocean Protocol | LinkedIn

By Crypto Republique

Nov 14, 2024

Bruce Pon, co-founder and CEO of Ocean Protocol, said that the combination of "AI and blockchain" unlocks significant "potential" for new entrepreneurial opportunities and substantial value creation. Pon made this statement during his talk at Binance Blockchain Week.

"When you intersect two general purpose technologies, AI and blockchain…the amount of potential and use cases and billions on the table that can be created by entrepreneurs is massive," said Pon.

According to a report by Future Market Insights, the global blockchain AI market is expected to grow from approximately USD 440 million in 2023 to USD 3,536.2 million by 2032, with a compound annual growth rate (CAGR) of 22.9% during the forecast period.

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Business Insider reports that venture capitalists have identified numerous startups at the intersection of blockchain and AI as among the most promising in 2024, reflecting growing investor confidence in this combined technology sector.

Pon has developed blockchain tools like Ocean Protocol for AI data exchange, BigchainDB, ascribe.io for creator rights, and IPDB. He previously founded Avantalion International Consulting, which built over 18 banks globally before being acquired by Teamwill Group. Earlier roles include international expansion at Daimler Financial Services and consulting at Accenture.

Ocean is a platform that enables monetization of AI models and data while maintaining privacy and control. With tools like Ocean Nodes, users can maximize computational resources for AI, while Data NFTs protect intellectual property by securing access to data and digital assets.

Binance Blockchain Week is a conference that brings together innovators, founders, investors, regulators, and officials to discuss the future of blockchain and Web3. The theme of this year's conference is "Momentum." According to the event's website: "Momentum propels our industry, not only taking us through challenges but also leading us to our biggest achievements."