Nokia is Allowing Consumers Monetize their Information with Blockchain

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Nokia is Proceeding Customers to Monetize their Data with Blockchain Technology

Streamr, a Blockchain data platform, is collaborating with California software company OSIsoft and Finnish telecom giant Nokia to enable mobile users to monetize their user information and make purchases.

On Wednesday, Chief executive Henri Pihkala declared the partnership at Consensus 2018 conference, while further conducting a live launch of its real-time data marketplace, through which customers can provide and subscribe to real-time data streams.

He stated in an announcement that “today marks an important day in Streamr’s history, not only showcasing our platform to the world on-stage at Consensus but declaring two stellar partnerships.”

The alliance with Nokia will see Nokia’s Kuha base stations combine with Streamr’s data marketplace, enabling Nokia users to both monetize their user information and buy streams from the Internet of Things devices.

Nokia’s radio system evolution lead Martti Ylikoski stated in an announcement:

“We recognize a growing movement of empowered mobile customers who want to control and monetize their own data, our partnership with Streamr reflects our firm belief in the platform.”

Participants purchase and sell real-time streams through Ethereum smart contracts. Buyer and seller use an ERC-20 token called DATAcoin.

The collaboration with OSIsoft will see the company’s enterprise customer gain the ability to earn money for their operations data.

Streamr just declared another partnership, with Hewlett Packard Enterprise, to utilize the Streamr Engine a data aggregator and analytics tool to gather data feed from an Audi Q2.

Suzat Fernandes

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