Nokia Partners with Streamr, OSIsoft to Compensate Customers for Data

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Nokia PartneNokia Partners With Streamr, OSIsoft to Compensate Customers for Datars With Streamr and OSIsoft to Compensate Customers for Their Data

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A looming partnership between the blockchain data platform Streamr, the giant Finnish-based telecom company Nokia and California software company OSIsoft will allow mobile users to monetize their data and make purchases.

Speaking at CoinDesk’s Consensus 2018 Conference, Streamr CEO Henri Pihkala said, “This not only meant to showcase our prowess on the world’s platform but to mark an important day in the Streamr history,” as he announced the partnership.

The live launch of the real-time data marketplace took place on Wednesday, last week.

Call for privacy

Amid concerns about data privacy, Nokia is looking for ways to let their users control and sell their data when they wish. It plans to allow users to collect their data through the internet connected devices on the blockchain and make money by selling the data to the various interested organizations, for instance, advertising or government-based institutions interested in buying the data.

Data monetization through partnerships

Pihkala says that the Nokia’s Kuha base stations will integrate with the Streamr data marketplace to allow their users to make money from their data and purchase streams from the Internet of Things. The marketplace will be made of automobiles and smartphones, with a switch button to share data across the world.

Nokia’s Martti Ylikoski said that partnership with Streamr is to show the commitment of customers to the brand Nokia and that the time for securing their data for economic privileges had come.

 

The industry will need more of these partnership to transform the way companies do business. Fostering business relationships is key to business growth and customer brand loyalty.

 

Image Source: NameCoin, Flickr

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