Streamr, the decentralized peer-to-peer data sharing protocol, today announced that it has joined the Trusted IoT Alliance, an open source software consortium which aims to create a secure, scalable, interoperable, and trusted IoT ecosystem. Founded by industry leaders such as Bosch, BNY Mellon, Cisco, Gemalto, and U.S. Bank, the consortium seeks to standardize an open source Blockchain protocol to support IoT technology in major industries worldwide.

Streamr CEO and Co-founder Henri Pihkala said:

“The exponential growth of IoT and the ubiquity of connected devices brings unparalleled value to data, fully transforming the service sector, the supply chain and in turn the modern economy. Yet the rapid nature of that technological evolution has come at the cost of our security and freedom, a cost that has not gone unnoticed by industry leaders.”

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. Tokenizing real-time data, Streamr facilitates a new way for machines and people to trade data on a decentralized P2P network.

“Connecting with some of the best minds in the industry helps us set the standard of robust, secure, and persistent data sharing that we so unquestionably deserve. The Trusted IoT Alliance is positioned to accelerate the emergence and widespread adoption of IoT enabled Blockchain platforms.” Pihkala added.

After founding members of the Alliance began informally cooperating as far back as December 2016, the Trusted IoT Alliance was formally launched in September 2017. The consortium aims to leverage the Blockchain and other security technologies to introduce trust into IoT and ultimately roll out practical use cases that deliver real business value and harness the disruptive power of Blockchain technologies.

Zaki Manian, the Executive Director of Trusted IoT Alliance, said: “Data Marketplaces are one of many critical applications that are emerging at the intersection of IoT and Blockchain. It was clear from the beginning of our discussions with the Streamr team that their cutting-edge platform aligns perfectly with our vision not only for the future of the Alliance, but for the industry as a whole. We look forward to active collaboration between enterprise members and great teams such as Streamr.”

The formal goal of the consortium is to enable a decentralized trust model for interoperable digitized identities of physical goods, documents, immobilized assets, sensors, and machines and to scale that model to billions of connected devices. In addition to global leaders in traditional fields, founding members of the Alliance include leading Blockchain companies Consensys, BitSE, Chronicled, Qtum, BigchainDB, Ledger, slock.it, Skuchain, and IOTA.

“This is an incredible honor and the latest in a series of exciting developments for our project. To see such early success and recognition for our platform is inspiring and further stresses our crucially important mission to create a system to transport IoT data in a decentralized, resilient, and scalable manner.” concluded Pihkala.

Following their successful precontribution period, which saw Streamr reach it’s 5 million CHF hard cap in 25 minutes, registration for the Streamr crowd contribution period commenced on Friday, October 6, 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.