ZUG, Switzerland, October 3, 2017 /PRNewswire/ --
Streamr, the decentralized peer-to-peer data sharing protocol, today announced the success of its precontribution window which reached its 5 million CHF hard cap in 25 minutes. Tokenizing real-time data, Streamr enables a new way for machines and people to trade data on a decentralized P2P network.
"The centralization of existing data infrastructure has left current systems vulnerable, concentrated, and uninspiring. As we see the explosion of decentralized apps and technologies, it is now time for real-time data from connected devices to share that independence in a robust, secure, and persistent manner. Our platform provides the missing link that makes pipe-dreams of unrestricted, unstoppable data a reality," Streamr CEO and Co-founder Henri Pihkala said.
Frustrated by the inefficiencies and limitations of traditional centralized data distribution systems, Streamr Network AG was co-founded this year by Henri Pihkala, Nikke Nylund and Risto Karjalainen to offer scalable, low-latency, and secure data delivery. The founding team has worked together for years building an advanced streaming analytics platform which is now being decentralized by Streamr.
Streamr CEO Henri Pihkala previously worked as a software engineer and an algorithmic trader, leading the development of several high-frequency algorithmic trading platforms. Nikke Nylund is a serial entrepreneur with several successful exits in the software sector. With a Ph.D. in Decision Sciences from the Wharton School of the University of Pennsylvania, COO Risto Karjalainen brings a wealth of knowledge on real-time computing, machine learning, and behavioral finance. Karjalainen previously worked as a Quant and Portfolio Manager with JP Morgan and Merrill Lynch before immersing himself into the world of real-time data and decentralized computing.
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.
Advising Streamr as a Technical Expert is Julian Zawistowski, CEO and Co-Founder of Golem, the first global market for idle computer power. Recognizing the shared vision and complementary goals of the two projects, Streamr and Golem began to mutually address the technical overlap in July 2017.
"This partnership brings together some of the most innovative minds in the industry. As we collaborate with Streamr we are not only improving efficiencies but benefiting the wider community. Working simultaneously opens the door to tremendous talent and technology. The partnership will take us, one step at a time, towards a decentralized future," Zawistowski said.
A luminary in decentralized technology, Julian Zawistowski joins Streamr's stellar board of advisors, consisting of trailblazers like Wendell Davis, an early instigator for many blockchain-related companies and projects, including OmiseGO and Golem, Thomas Greco, special advisor to OmiseGO, and Dr. Luka Müller, Co-founder of MME and legal advisor to Ethereum, Consensys, and Bancor. Kimmo Halunen, Senior Scientist at VTT Technical Research Centre of Finland with over 20 publications on information security and cryptography, has also joined Streamr as its Cybersecurity Advisor.
"Streamr seeks to deliver unstoppable data to unstoppable applications. We cannot do so without the continued support of our passionate community. The overwhelming success of our precontribution period is both encouraging and inspiring, and we are incredibly grateful to our early participants as well as to the wider Streamr community," added Pihkala.
Opening on September 14, the Streamr precontribution 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. Following this model, Streamr could proactively manage and prevent any risks associated with token sales, while also raising a substantial amount.
Bitcoin Suisse Head of ICO and Streamr advisor Nicolai Oster said, "Working closely with the Streamr team has been extraordinary, and I am proud to help them as an advisor. In my professional capacity, I see dozens of new projects every single day, and Streamr stands out as a project with terrific potential backed by deep technical experience and competence."
Following the successful precontribution period, registration for the Streamr crowd contribution period will commence on October 9, 2017, at 12 noon UTC with DATA tokens available at a rate of 1 CHF = 18.25 DATA. The overall cap for all contributions is 30 million CHF.
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.