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Nokia Is Letting Consumers Monetize Their Data With Blockchain

Blockchain data platform Streamr is partnering with Finnish telecom giant Nokia and California software company OSIsoft to allow mobile customers to monetize their user data and make purchases.

Chief executive Henri Pihkala announced the partnerships at CoinDesk’s Consensus 2018 conference Wednesday, while also conducting a live launch of its real-time data marketplace, through which users can provide and subscribe to real-time data streams.

He said in a statement that “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.”

The partnership with Nokia will see Nokia’s Kuha base stations integrate with Streamr’s data marketplace, allowing Nokia customers to both monetize their user data and purchase streams from Internet of Things devices.

“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.”

Participants buy and sell real-time data streams through ethereum smart contracts. Buyers and sellers use an ERC-20 token called DATAcoin.

The partnership with OSIsoft will see the firm’s enterprise customers gain the ability to earn money for their operations data.

Ealier in May, Streamr announced another partnership, with Hewlett Packard Enterprise, to use the Streamr Engine – a data aggregator and analytics tool – to collect data feeds from an Audi Q2.

Data image via Shutterstock

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Nokia Trials Blockchain in Bid to Secure Health Data

Finnish communications giant Nokia has announced a new blockchain pilot aimed at developing new ways to store healthcare data.

In a press release on its website, Nokia announced that it had begun the project with OP Financial Group. One hundred participants are taking part in a bid to test how they could store and share their health data while also enjoying a degree of privacy around that information.

The companies are using a blockchain due to the security features it offers, according to Nokia’s website. The software allows the company to control access to the data being collected, ensuring that only verified parties can access it.

As Nokia explained in its announcement:

“While the value of connected health data is widely recognised, it is often not leveraged to its full potential due to authenticity, availability and privacy concerns. Trust is a vital requirement in order for health data to provide the greatest benefit to individuals, families and our global society.”

The program uses wearable devices to track daily steps and hours of sleep, storing this data on a blockchain. These results are compared to users’ fitness goals. Users who meet or make progress toward these goals will receive loyalty points depending on their participation in the pilot.

Nokia said that it believes this program can help develop “insights on global health issues” – provided that users trust the systems being used, that is.

OP Financial’s laboratory head, Kristian Luoma, said this pilot program is an example of how blockchain can be applied to health programs in the future, particularly to applications which require trust from users.

Nokia was one of a number of technology firms to join the Linux Foundation-led Hyperledger blockchain project in late 2016.

Image Credit: 360b / Shutterstock.com

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