ZUG, Switzerland, October 6, 2017 /PRNewswire/ --
Streamr, the decentralized real-time data economy, today announced that the Streamr Crowd Contribution Period will commence today, Friday, October 6, 2017, at 12 noon UTC. Tokenizing real-time data, Streamr facilitates a new way for machines and people to trade data on a decentralized P2P network. Last month, it reached its 5 million CHF pre-contribution hard cap in 25 minutes.
Streamr CEO and Co-founder Henri Pihkala said, "There has never been a better time to bring independence to our data systems, providers, and users. The Streamr platform looks to directly challenge the fundamental inequality and vulnerability of traditional data infrastructures and ultimately revolutionize how we view data."
After becoming frustrated with the inefficiencies and limitations associated with centralized data distribution systems, Henri Pihkala, Nikke Nylund and Risto Karjalainen co-founded Streamr Network AG in order to provide a platform that offers scalable, low-latency, and secure data delivery. Using high-level building blocks Streamr allows for data streams, smart contracts, and decentralized computing resources to be interconnected in a low-code environment.
Opening on September 14, the Streamr pre-contribution window was the first of its kind on Bitcoin Suisse, the world's leading crypto-asset broker and asset manager. Operating on a registration model, interested parties underwent a thorough Know Your Customer (KYC) evaluation prior to participating.
"The immense success of our pre-contribution period went far beyond our expectations. In light of this, and in anticipation of an equally successful crowd contribution period, we have worked tirelessly to deliver an excellent participant experience without compromising compliance or security," added Pihkala.
Connecting producers and consumers, Streamr aims to create a market for real-time data. The Data Market categorizes and showcases publicly available data streams. The Streamr token, DATAcoin, is needed to access and operate the market, and to compensate nodes in the P2P network. Subscribers pay for the data with the token while producers and participants are reimbursed automatically and securely.
The Streamr Crowd Contribution Period will follow the same KYC model as its pre-contribution window, and in order to increase transparency, registration will open on October 6, 2017. This will guarantee that all correctly submitted applications will be processed by the start of the official contribution period which will run until October 9, 2017, registrations after this time will be considered late and only processed on a best-effort basis. The Contribution Period will take place from October 12, 2017 at 12:00 noon UTC through October 26, 2017.
The contribution period is closed when a total of 30 million CHF has been reached over all contribution periods. The Streamr Crowd Contribution Period will see DATA tokens sold at a rate of 1 CHF = 18.25 DATA. The ETH/CHF rate will be locked a few hours before the start of the Small Cap Contribution Period and will remain the same until the end.
In line with the project's vision of fair and open data to all, Streamr's Crowd Contribution Period will implement a significantly lower minimum contribution limit than the standard 5,000 CHF. As a result, there will be a small cap track for contributions between 500-5,000 CHF and a large cap between 5,000-50,000 CHF.
"With our mission to create a system that excels from the equitable and open sharing of data in mind, our team has been working eagerly with Bitcoin Suisse to ensure that anyone, regardless of financial constraints, can participate," added Pihkala.
The Streamr advisory board consists of globally recognized Ethereum contributors including Wendell Davis, Thomas Greco, and Alex Leverington. Also on the board is Nicolai Oster of Bitcoin Suisse; Julian Zawistowski, CEO of Golem; Dr. Luka Müller, Partner of MME law firm and legal advisor to Ethereum; and Kimmo Halunen, Senior Scientist at VTT Technical Research Centre of Finland.
"We are incredibly grateful to our early contributors and very encouraged by the continued interest in our project. The world deserves unstoppable data for unstoppable applications, and with continued community support, Streamr will provide just that," concluded Pihkala.
For more information visit www.streamr.com.
Streamr Co-Founder and CEO Henri Pihkala is available for interview
Streamr, the technology stack for real-time data, aims to tokenize the value in data by enabling a new way for machines and people to trade it on a decentralized P2P network. Founded in 2017 by Henri Pihkala, Nikke Nylund, and Risto Karjalainen, Streamr offers scalable, low-latency, and untamperable data delivery and persistence in an effort to overcome the limitations of traditional centralized real-time data platforms.