DUBAI, Feb 29, 2024 — Today, award-winning data marketplace technology provider Acentrik and web3 infrastructure provider Biconomy announce a milestone collaboration to bring seamless, web2-like experiences for organisations in the web3 world.

This partnership drives Acentrik’s service offering, which provides a whitelabel end-to-end and customisable data marketplace, powering cross-border exchanges securely with full data control, and unlocking greater data value between governmental institutions and private entities.

With a trusted network of over 400 web3 ecosystem partners, including J.P. Morgan, Trust Wallet, The Sandbox, and dYdX, Biconomy has been appointed as Acentrik’s Account Abstraction solutions provider. This will revolutionise data exchanges in the web3 space, setting user experience (UX) standards for decentralised data transactions.

Account Abstraction Infrastructure Partnership

By leveraging Biconomy’s on-chain and off-chain ERC-4337 infrastructure — a UX-based standard for Account Abstraction in web3 — Acentrik is building solutions for secure, low-friction, and white-label data marketplaces deployed for organisations.

With Account Abstraction, enterprise users can enjoy the benefits of web3 through Smart Accounts, which abstracts the burden of gas fees, token, or seed phrase management, resulting in simplified onboarding and enhanced UX efficiencies.

Key implementations in the Acentrik and Biconomy partnership include:

1. Simple User Onboarding — Using Biconomy’s Social Login module, Acentrik introduces email-based OTP login, eliminating the dependency on web3 wallets (EOAs) and ensuring a secure authentication and user experience.
2. Smart Account Wallet — Acentrik offers a unified approach to asset management via a single, non-custodial wallet shared within the organisation. This streamlines the user experience and accessibility to decentralised data solutions.
3. Gas-free Transactions — Acentrik enables gas-free transactions through Biconomy’s Sponsorship Paymaster, significantly reducing costs and providing a user-friendly environment in the data exchange.

Srikanth Kaja, General Manager, Centre of Excellence, Web3 of Mercedes-Benz Singapore, says, “Our collaboration with Biconomy is pivotal in driving the mass adoption of Web3 through Acentrik. By integrating seamless UX principles from Web2 with the innovative benefits of Web3, we're crafting an enterprise-grade product that not only meets the evolving needs of global enterprises and government institutions but also incorporates direct customer feedback to ensure a transformative experience."

Aniket Jindal, COO and co-founder of Biconomy adds, “We’re thrilled to partner Acentrik’s data marketplace. The use cases for effective data management and on-chain analytics continue to grow every year. As more institutional players develop their intellectual properties on the blockchain, they will require user-friendly, secure, and dynamic data solutions to power cost-effective data points to inform their businesses.”

About Biconomy

Biconomy is a developer platform setting UX standards for seamless blockchain transactions. Biconomy empowers the world’s best developers to deliver web2-like experiences in their dApps. As pioneers of Account Abstraction (ERC-4337), Biconomy has on-boarded over 4M unique users across 400+ dApps while partnering with companies such as J.P. Morgan, dYdX, The Sandbox, and FanTV.

About Acentrik

Acentrik, a strategic product by Mercedes-Benz, is an award-winning enterprise solution for decentralized data exchanges. Built for organizations with a focus on creating value out of data, Acentrik’s vision is to revolutionize the world of data exchanges and contribute to the greater ecosystem of enterprises. It is explicitly geared to the needs of organisations, enabling greater data sharing in a private and sovereign manner.

Media Queries:

Head of Brand & PR
Tommy@biconomy.io

Marketing and Communications
cheryl.kwek@mercedes-benz.com

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