Nokia, HPE Partner with Blockchain Startup Streamr to Help Users Monetize Data

Swiss startup Streamr has partnered with Nokia, HPE, and OSIsoft, providing its blockchain technology for projects that help users collect data and monetize it.

Blockchain startup Streamr recently partnered with Nokia and Hewlett Packard Enterprise (HPE), among others, sharing its technology to create a data marketplace. More details about the collaborations were unveiled during the Consensus 2018 event in New York City. Streamr’s marketplace, which was launched on Wednesday, enables customers to put their data on blockchain and then generate profits by selling it to different entities. Data can be collected from any kind of device.

To create the platform, Streamr raised $30 million during an initial coin offering (ICO) held in 2017. The Swiss startup wants to tokenize the data via a new digital currency called DATAcoin (DATA), which ranks at number 166 on Coinmarketcap.

Streamr partnered with Nokia to help its customers monetize data collected on the latter’s mobile base stations, which are generally used in rural zones. The farms also use these stations to leverage Internet-based sensors to predict the weather and control irrigation.

Martti Ylikoski, Nokia’s head of radio system evolution, told media:

“Farmers want to have a weather station—they might also want to sell that data.”

“Providing smart mobile coverage for up to four billion individuals across the world is a major challenge, and current solutions don’t go far enough. We recognize a growing movement of empowered mobile customers who want to control and monetize their own data,” he said in a statement.

Last week, Streamr partnered with IT giant HPE, which has developed a blockchain-based platform allowing the collection of car data through its Edgeline service. The data can range from fuel consumption and car location to acceleration and gearing.

As HPE’s blockchain director Raphael Davison explains, “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,” he added.

“This partnership with HPE not only solves some of the challenges associated with smart cities, it also proposes a solution to the question of data ownership,” Streamr CEO Henri Pihkala said.

Besides Nokia and HPE, the blockchain startup also partnered on Wednesday with OSIsoft, a company providing data and analytics software to operators in the oil & gas, pharmaceuticals, mining, power generation, and manufacturing sectors.