VTT Technical Research Centre of Finland Ltd, and realtime data tech startup Streamr are teaming up to ensure companies and individuals are more empowered to use public blockchain technology.
In their first move into utilising public blockchains and value transfer using cryptographic tokens, the government-backed Finnish technology centre of excellence, which has well over 2,000 employees and an annual operating turnover of €188M, will partner with Streamr, who specialise in realtime data, to create a number of Web 3.0 applications.
Together, Streamr and VTT hope to integrate Ethereum smart contracting with live data flows from the rapidly growing IoT economy and beyond.
VTT has maintained a strong interest in blockchain technology. The partnership with Streamr, however, not only represents VTT's first move into utilising public blockchains, but also the first time they will use cryptographic tokens such as Ether and Streamr's DATA coin in a commercial demonstration.
Swiss-based Streamr Network AG, which tokenises streaming data to enable people and machines to trade on a decentralised P2P network, allows easy access to both smart contract technology and realtime data integration.
"Finland is a fantastic testbed for new solutions. Regulations, public servants and the government allow and even encourage trials and exploiting new opportunities. Collaboration between different players is fluent and the Finnish people are very positive towards new ideas and innovations," says Tua Huomo, executive vice president of knowledge intensive products and services at VTT.
"It's wonderful to be teaming up with VTT, and for them to not just be supporting Streamr but the wider blockchain and crypto space. They have an impressive reputation for innovation and so I'm really looking forward to what we can do together and showcasing their forthcoming presentation at our pavilion in New York at Consensus 2018," says Streamr CEO, Henri Pihkala.
Further services based on Streamr's data platform are in the works for VTT. To cement their cooperation, VTT will be exhibiting at Streamr's pavilion at the blockchain technology summit Consensus, held May 14-16 2018 in New York City, to demo their use of Anti Theft Sticker, a smart tag technology to help safeguard precious goods without exposing their location.
More About Streamr
Streamr is based in "Crypto Valley", aka Zug, Switzerland, but was born out of a Finnish company in Helsinki now named Data in Chains. The first version of the software that resembles the current Streamr vision was created for internal use in algorithmic high-frequency trading five years ago. Core team members all come from a financial background, being either quants, trading system developers, algorithmic traders and, in some cases, all of the above.
- Streamr Crowdfunding officially closed on Oct 26 2017, and raised $30m in just over 24 hours.
- Streamr already has functioning data analytics technology, a drag-and-drop visual programming user interface for fast prototyping and app creation, and smart contracting capabilities built on top of the Ethereum blockchain.
- Scheduled for launch in Q2 2018, Streamr's realtime data Marketplace will allow users to trade information over their P2P data network using the cryptographic token DATA as a means of payment.