In this article, I want to talk about the market value and opportunities present in the world’s oceans with a more in-depth look into their natural resources and ecosystem functions.
Whether relating to ocean fisheries and their tourism potential or their climate-regulating functions, the ocean is an integral part of the globe with several other uses that can still be economically measured.
What is Ocean Protocol?
Ocean Protocol is a specialized platform that allows peers, businesses, and organizations to share, sell and access data without concern thanks to the decentralization.
Ocean Protocol, a blockchain-based technology, enables the construction of digital markets, consolidating the requests of data providers and users who require data for different activities.
Each data set or piece is digitized in ‘datatokens’ which control usage of the data and such tokens can be redeemed by users who require such information.
The concept is quite interesting as it intends to allow gaining profits from data but in a secure manner.
How Much is The Ocean in US Dollars
Today, the price of 1 Ocean Protocol (OCEAN) is approximately USD 0.6062. Please note that cryptocurrency prices fluctuate frequently, so checking for the most up-to-date rates on a reliable exchange platform is always a good idea.
The Ocean’s Value in Ecosystem Services
The ocean is of great value, and through its ecosystem services, it has four major categories which are:
Provisioning Services
These consist of fisheries, building materials, and other resources that are useful to man.
Supporting Services
These are life-cycle maintenance for fauna and flora, nutrient cycling, and other activities that maintain the ecosystem.
Regulating Services
The ocean acts as a carbon sink and storage, regulating the environment, preventing coastal erosion, treating wastewater, and moderating extreme events.
Cultural Services
These relate to tourism, other recreational activities, and the aesthetic enjoyment and spiritual benefits people get from the ocean.
The total value of these services is around 29.5 trillion dollars per year, much more than the GDP figures for many other countries.
This shows how critical it is to conserve and protect marine ecosystems since they benefit humanity for ages.
How much has the OCEAN price to USD changed?
The OCEAN/ price has increased by 0.91% in the last hour and decreased by -4.77% in the past 24 hours on a trading volume of 1100224.71 $.
Future Implications and Preservation Efforts
The consequences that will deviate from the norms regarding the oceans and their ecosystem services in the future are important.
Concerning future provisions of these services, several actions are being taken to protect them from further:
Marine Protected Areas (MPAs)
There is a need to establish and enhance the coverage of MPAs to protect specific habitats and biological diversity from humans.
Climate Action
To manage climate change effects on marine systems, attempts have to be made to reduce carbon discharge and other contributing factors.
Sustainable Fisheries
Overfishing should be discouraged by promoting judicious fishing practices and enhancing the protection of marine species.
Restoration Projects
Projects for restoring degraded ecosystems, such as coral reefs, mangroves, and other coastal marine habitats, should be instituted.
Research and Monitoring
Restructuring and extension of research in the area and monitoring to explore another aspect of ecosystem transformations and conservation measures.
Global Cooperation
Integrating international collaboration to respond to global challenges and apply appropriate conservation measures.
All these measures are necessary to help keep in place the ocean’s ecosystem services, which are very important for mankind and the Earth. Any comment on these measures of preservation?
Conclusion
To conclude, the current value of one Ocean Protocol (OCEAN) is about USD 0.6062 as of this present date.
Such a figure can be expected to be quite volatile owing to the nature of cryptocurrency.
Ocean Protocol is a notable force in the decentralized data exchange field and aims to make data monetization processes secure, fast and transparent.
This protocol’s constant growth and expansion demonstrate the paradigm shift of focus to data in the modern economy.
When several data exchange alternatives are offered, understanding the state and perspective of Ocean Protocol and its prospects will assist users and investors in making the right decisions in the fast-changing world of cryptocurrency.
