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HPE, Nokia Tap Streamr to Allow Consumers to Monetize Data Tokenized Blockchain

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Nokia and Hewlett Packard Enterprise partnered with a Swiss start-up called Streamr that will allow consumers to control and market the collected data. by Internet-connected devices, according to Fortune. The partnerships, announced at the Consensus conference in New York, signal emerging efforts to use blockchain technology to empower consumers.

Streamr will split the data into a cryptocurrency called DATAcoin that raised more than $ 30 million last year in an ICO.

Prototype developed

HPE has already developed a prototype that collects data on the use of the automobile on the company's Edgeline server and then stores them in a blockchain. The car owner will be able to sell their data to anyone who needs it. These data could include fuel levels that could help energy companies determine fuel demand, or data on the activity of windshield wipers that could be used to develop weather warnings.

Raphael Davison, global director of blockchain at HPE, said that at present, drivers are distributing car data that could be very useful. Local government administrators may want data on traffic or pothole locations. The auto insurance companies might want the data to determine the driver's risk with which they can determine the insurance premiums.

The HPE prototype was installed in an Audi Q2, but it could be used in any car, according to Davison. Such data could also be useful for smart cities.

& # 39; Blockchain 3.0 & # 39;

Davison calls the project "blockchain 3.0". When blockchain 2.0 has used technology to connect businesses to each other, blockchain 3.0 will eliminate intermediaries and link consumers directly to entities seeking to take advantage of consumer data.

Blockchain makes the party that generates the data its owner, says Davison. HPE is also looking for ways to give patients control over their medical records.

Nokia, for its part, works with Streamr to transfer data from its Wi-Fi access points to the blockchain. These mobile "base stations" are typically used in low signal locations such as farms where sensors are installed to regulate irrigation and predict weather conditions.

Martti Ylikoski, who oversees the activity of Nokia's radio system, said that farmers might want to sell such data.

Also read: P2P Streamr Data Sharing ICO Raises $ 31 Million

Streamr's partnership emerges

Streamr is also associated with a company called OSIsoft that provides analysis for data tracking in industrial operations. According to the company, OSIsoft customers may want to exchange Streamr data tokens between them.

Henri Pihkala, CEO of Streamr, said various devices could possibly have an off / on switch to enable data sharing and sales. The technology exists, he said. the challenge is to get companies to deploy it.

At the time of writing, DATAcoin was trading around 12 cents after falling 30 cents at the beginning of this year.

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