What is Portex?
Last updated
Last updated
Our goal is to provide an open market for data products where buyers and sellers of data can engage in price discovery.
We want data to become an explicit asset. We're optimistic about a world where data is an explicit asset that anyone can own. We believe this to be an inevitable direction as AI models proliferate. While the journey to this ideal future may be long and treacherous, we want to build the road that gets us there.
We're starting with some laser-focused use cases that we believe will help us achieve this vision. Prior to the founding of Portex, the team's shared background was in the Data-as-a-Service (DaaS) segment, where we worked with major oracle providers in the space and helped service a new type of data buyer: protocols.
Many blockchain protocols, especially in DeFi, must consume data from the outside world to perform even the most elemental services. Today, over 90% of that is pricing data, like reference rates. We expect this to change drastically as protocols evolve and require more specialized data.
More broadly, we're building Portex out of a shared realization that protocols might become major buyers of data and that a solution structured as an explicit marketplace is urgently needed.
As a starting point, our marketplace will feature highly specialized data solutions that address some of the most pressing issues faced by onchain applications today.
As a long-term mission, we want to empower users to take ownership of their data and make it easier for them to privately and voluntarily sell that data to onchain buyers.
For a more technical breakdown, please check the page below.
Fun fact: the name Portex is a reflection of our shared interests in history and the origins of modern cryptography. The Portex was a British electromechanical cipher machine used by secret services in the UK during the late 1940s and 1950s. It was similar to, but more advanced than, the infamous German Enigma, and pays homage to the early days of cryptography as an emerging field.
Note: these docs are a work in progress and are in active development
