Decentralized finance infrastructure player AllianceBlock has announced a key partnership that will make it possible for DeFi builders to leverage the mountains of startup data provided by Crunchbase.
The two companies are collaborating to bring Crunchbase’s invaluable proprietary data to the AllianceBlock Data Tunnel, a decentralized data marketplace designed to make information more accessible to the blockchain community.
Data Tunnel brings together data providers and consumers in both DeFi and traditional finance and makes it possible to publish, use and even monetize data easily, in a decentralized fashion, and without any knowledge of how blockchain works. With Data Tunnel, AllianceBlock helps to tackle a number of problems, including the difficulty of monetizing data, accessing siloed information, and issues with multiple data formats. It also solves the pressing concerns around losing control over data access once that information is sold.
AllianceBlock believes that Data Tunnel will serve as the foundation of a global and circular data economy that enables information to be shared, analyzed, and integrated with revenue-sharing models that benefit both individuals and businesses. It does this in a decentralized way, meaning no intermediaries. It’s a collaborative and open ecosystem that rewards all users for their participation, no matter if they provide data, enrich existing datasets, improve their quality and combine it with additional information.
The addition of Crunchbase’s data to the Data Tunnel is a nice validation of the offering. Crunchbase is widely regarded as the go-to platform for investors and deal makers who’re looking to discover, qualify, track, and engage with new opportunities. It provides the world’s most comprehensive database of startups and private companies.
AllianceBlock co-founder and Chief Executive Officer Rachid Ajaja explained that the buying and selling of data is a multi-billion dollar growth industry that’s accelerating rapidly as data ecosystems grow exponentially. However, it’s an industry that’s challenged by the fact that data providers are still operating in silos, where they’re unable to interact with one another. It means that companies are unable to tap the full potential of the world’s data, he explained.
“There is significant demand for a means for decentralized and centralized actors to buy and sell data from one another seamlessly,” Ajaja said. “With the addition of Crunchbase’s world-leading business data to the Data Tunnel, AllianceBlock is filling this demand and allowing the industry to realize its full potential while encouraging new actors to join the movement.”
The collaboration highlights the incredible potential of what is still a very nascent decentralized data-sharing industry. It’s another example of how the DeFi industry stands to benefit from enhanced access to traditional data sources.
By making its data available in Data Tunnel, Crunchbase says this information will become much more accessible to the rapidly growing world of blockchain businesses and crypto developers. Best of all, users will be able to combine the Crunchbase datasets with those provided by other contributors, helping users to create a new breed of applications around customer acquisition profiles, default probability models, and untapped markets.
