Streamr, The Decentralized Real-time Data Economy, Successfully Reaches 5 Million CHF Pre-sale Cap in 25 Minutes

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.