Streamr Signs Data Union Deal With Telecoms Body GSMA

Reading Time: 2 minutes
  • Streamr has signed a deal with the GSM Association to pilot their platform with three mobile companies
  • Streamr allows users of platforms to sell their data to the platform for DATA tokens owners rather than unwittingly handing it over for free
  • The trial will see users of the mobile companies trial the data union concept

Streamr, the data-focused blockchain project that aims to allow users to monetize their data, has taken a huge step towards adoption by signing a deal with the GSM Association (GSMA), the industry body for mobile telecom communications. The deal will see three mobile network operators (MNOs) joining forces with Streamr to provide a service that will allow users to share and monetize their information in return for the Streamr coin. STREAMR says MNOs have been attempting for over a decade to find a way to monetize user data, and it finally seems like a solution has been found that benefits all parties.

Streamr Hopes for “Fast Track” Adoption of Data Unions

Streamr announced the collaboration on Monday, with the Swiss company revealing that they will work with GSMA to develop a “technological accelerator programme” in order to “fast-track potential adoption” of the new, fairer platform.

The pilot program will see users invited to join a data union – a pool on the Streamr platform to which user data is submitted by users and purchased by companies. Users can opt out of sending their data to a data union, although they will naturally miss out on monetizing information that they are generating anyway.

Trial Will Inform Final Product

The Streamr/GSMA linkup is a huge step toward potential widespread implantation of data unions, which puts control back in the hands of the users rather than the platforms they use. Shiv Malik, Streamr’s Head of Growth, who explained the concept on the FullyCrypto podcast last month, said in a press release that gaining user consent was the only way in which MNOs were likely to get their hands on the data they so prize:

Given regulatory changes, and rapidly changing consumer attitudes to both privacy and the value of their data, the only sustainable way for MNOs to monetize mobile data, is by gaining overt consent from their users. We are confident that Streamr’s revolutionary Data Union framework allows them to capture and record this consent dynamically and securely.

The pilot will also allow valuable research to be undertaken as to how, and with whom, users share their data, as well as their opinions on being rewarded in cryptocurrency for handing it over. Such information will be of vital importance for Streamr as they improve their product before a full launch.