Nokia and Hewlett Packard Enterprise Partner With Blockchain Data Streaming Startup Streamr
Streamr, a Switzerland-based open source platform for the free and fair exchange of the world’s real-time data, has made a string of announcements since the start of May, including partnerships with Hewlett Packard Enterprise (HPE), Nokia (NOK), Bancor Network (BNT), Smart Citizen, OSIsoft and Fysical.
— Streamr (@streamr) May 16, 2018
The latest announcement came at Consensus 2018 in New York City, where Streamr CEO Henri Pihkala conducted a live launch of the firm’s real-time data marketplace that makes it possible for users to provide and subscribe to a vast array of data streams in real-time. In his announcement, Pihkala said shared his vision for a more efficient data economy.
“To realise our vision of a sustainable, equitable, and efficient data economy, we needed to create a space in which buyers and sellers could come together freely, and today we have achieved just that.”
The trio will function as part of a larger ecosystem to help build a marketplace for data on Streamr’s blockchain platform, where users will be able to buy and sell data streams in real-time using DATAcoin, the ERC-20 token that serves as the platform token. By leveraging Ethereum smart contracts, clients will be able to earn money by simply trading data.
While the partnership with OSIsoft was a win for the young blockchain startup, the majority of attention has been placed on the partnerships with enterprise giants Nokia and HPE.
What’s in it for Nokia?
Nokia will leverage its collaboration with Streamr to further develop its mobile base-station devices. The devices will effectively act like Wi-Fi hotspots which can be used to deploy in low-signal-range areas, including rural areas, to assess the dynamic data patterns and react accordingly to control relevant processes. Ultimately, this system allows users to monetize their data and integrate with IoT sensors and devices.
Martti Ylikoski, Nokia’s Radio System Evolution Lead, shared more on what drove the partnerships with Stream.
“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.”
And for HPE?
Streamr partnered with HP’s enterprise spin-off to produce a data aggregator and analytics tool for data feeds from an Audi Q2. The new software uses Streamr’s engine to power its platform and is currently being prototyped to collect vital data points, including the collection of activities from car windshields. The data can be used to trigger weather warnings at a specific location, or even monitor fuel quantity available in the car which may help predict fuel demand in an area. Another example is the monitoring of wear and tear of car components, where the system may issue necessary live alerts for replacements.
In an interview with Fortune, HPE’s worldwide director for blockchain tech, Rachel Davison, highlighted the importance of leveraging the blockchain for vehicle data.
“The data that’s stored in your car is extremely valuable and right now us drivers just give it away. This kind of technology with blockchain allows you to have control over it, and therefore you control it, you can monetize it.”
More about Streamr:
Streamr Network AG is a complete system that is able to tokenize real-time data, allowing people as well as machines to trade it via the system’s decentralized P2P network. They successfully raised $30 million through an ICO last year to build out the concept of a secure “data marketplace” using blockchain technology. The data that gets uploaded and stored on the blockchain network is monetized using the platform’s token, DATAcoin (DATA).