Streamr ICO Raises $31 Million

P2P Data Sharing Startup Streamr ICO Raises $31 Million

Peer-to-peer (P2P) data sharing startup Streamr reasoned its initial coin offering (ICO) on Monday, reaching its approximately $31 million hard cap almost two weeks early.

The Streamr ICO, that was handled by Swiss crypto-asset agent Bitcoin Suisse, increased 30 million CHF, a value roughly $30.7 million, from over 1,300 people and groups. Streamr plans to utilize these resources to encourage the evolution of its own P2P data sharing protocol and technology pile.

The startup envisions a market where users may wrest back control of the information from businesses, providing them the liberty to purchase and sell information as they choose. The native currency of this platform is going to probably be DATAcoin, a token spread throughout the recently-completed crowdsale.

Risto Karjalainen, chief operating officer of Streamr, told BMI that the protocol provides a great number of use cases. He’s especially enthusiastic about its ability to assist “smart cities” work economically:

“Particularly interesting use cases can be seen in smart cities. As a specific example, you could crowdsource a near real-time view of free parking slots across the city using a smartphone app. You’d be automatically compensated with DATAcoin for the useful data you contribute, and those who find the space will pay a small amount for the service. There’s less time wasted, less pollution, and information gets monetized.”

The system will include a visual programming environment designed to make it easy to create decentralized software (Dapps) that utilize data streams from the Streamr network, and also the DATAcoin token will be used to pay for subscriptions to those data providers. The token will also be distributed to node users and operators who sell their information to the market.

Streamr chief executive Henri Pihkala expressed gratitude for the tremendous support the project had obtained, allowing its crowdsale to attain its hard cap nicely ahead of its official end date.

“Our team is incredibly thankful and humbled by the exceptional results from our Crowd Contribution Period. The support, not only for our platform but for our assignment, is truly inspirational and a memorable benchmark in the evolution of real time infrastructure,” he explained. “While our challenging goal leaves us with a very long trip ahead, this early success is a huge jump in making this dream a reality.”

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