Nokia To Allow Consumers To Monetize Their Data with Blockchain 9398
News
Sharat Chandra
May 16, 2018 at 11:09 PM

Streamr has built an open source platform for the free and fair exchange of the world’s real-time data. Finnish telecom biggie Nokia and California based OSlsoft have joined hands together with Streamr to allow users to monetize their real-time data with the help of blockchain.

The Data Marketplace of Streamr would host all sorts of data on the Streamr Network so that buyers and sellers of data can transact using $DATA without any transaction fee. The data would navigate on a decentralized peer-to-peer network ensuring transparency and scalability.

"We recognize a growing movement of empowered mobile customers who want to control and monetize their own data," Nokia's radio system evolution lead Martti Ylikoski, said in a statement, adding, "our partnership with Streamr reflects our firm belief in the platform."

Earlier on May 10th, Streamr announced a partnership with Hewlett Packard Enterprises to monetize car data.“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. We want to ensure that when drivers get in their car and produce valuable data, no one is reaping the rewards but them, and with Streamr, we will always keep our users in the driving seat,” added Henri Pihkala, CEO, and founder at Streamr.

Data is the new fuel, and it is indeed bound to fuel data marketplace with many new players throwing their hat in the ring.

 

Image via Nokia