Blockchain Allows Nokia Users to Monetize their Data

Blockchain Allows Nokia Users to Monetize Data

Streamr chief executive Henri Pihkala announced his firm’s partnership with Finnish telecoms giants Nokia and California software company OSIsoft. These companies will be collaborating to allow Nokia customers to monetize their user data with blockchain and purchase streams from the Internet of Things devices.

His firm was also launching its real-time data marketplace where users subscribe to real-time data streams.

At the CoinDesk’s Consensus 2018 conference Wednesday, Pihkala said in a statement that

“today marks a hugely significant day in Streamr’s history, not only showcasing our platform to the world on-stage at Consensus but announcing two stellar partnerships.”

Nokia, with its Kuha base stations, will fuse with Streamr’s data marketplace in this joint undertaking. The partnership with OSIsoft brings in their expertise as a manufacturer of application software for real-time data management.

Ethereum smart contracts will power the transactions and participants will use an ERC-20 token called DATAcoin to buy and sell real-time data streams.

“We recognize a growing movement of empowered mobile customers who want to control and monetize their own data,”

Martti Ylikoski, Nokia’s radio system evolution lead said in a statement, further adding,

“our “partnership” with Streamr reflects our firm belief in the platform.”

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