Telecom Giant Nokia Will Help to Monetize User Data Using Blockchain

Telecom Giant Nokia Will Help to Monetize User Data Using Blockchain

 Steamr has partnered up with telecom giant Nokia and OSIsoft to help mobile customers monetize user data and also make purchases of valuable data they need.

Steamr is a Blockchain company which is an open source platform for a free and fair exchange of world’s real-time data.  

Nokia is a Finnish based company known the world over for its technology in telecom and mobile phones.

This partnership will help Steamr and Nokia to benefit and take the companies to another level concerning technology in their respective fields.

The Chief executive of Steamr, Henri Pihkala had announced the partnership at CoinDesks’ Consensus 2018. He showed a live presentation of the real-time data marketplace which users can help in providing and subscribing to real-time data streams.

“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,” Pihkala was quoted saying.

Hence the base stations of Nokia which are used for low signal areas in rural parts such as farms will help to gain data on weather patterns and regulate irrigation processes.

Nokia’s radio system evolution lead Martti Ylikoski said,

“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,” Ylikoski further added.

Streamr is rapidly gaining momentum with a partnership earlier in May with Hewlett Packard Enterprise. This partnership used Streamr Engine which is a data aggregator and analytics tool to collect data from the luxurious Audi Q2.

Streamr has tokenized data in the form of cryptocurrency and calls it DATAcoin also known as DATA.  It had already raised $30 million in an initial coin offering (ICO) last year.

Image Source: “Flickr”

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