Why Nokia Is Partnering with a Crypto Startup to Build an IoT Network
Nokia, a Finland-based multinational communications and information technology provider, has announced a project to give people in remote rural areas a chance to have mobile connectivity and enjoy the benefits of the digital economy, according to a a post on the company’s blog.
New tools that reduce the cost of network deployment and maintenance will bring access to these areas, and Nokia community hosted networks will collect Internet of Things (IoT) data and allow customers to monetize it, either individually or through IoT Data Community Projects.
Nokia is among the companies working with a Swiss cryptocurrency startup called Streamr that tokenizes data collected by internet-connected devices. Nokia’s community hosted networks will gather IoT generated data and integrate the data with the Streamr Data Marketplace.
Nokia community hosted networks will transfer data from internet-connected devices in these remote areas to the blockchain. Sensors have been installed in places like farms to regulate irrigation and predict weather patterns.