Streamr, the decentralized real-time data economy, successfully hits the presale cap of CHF 5 million in 25 minutes

Streamr, the decentralized peer-to-peer data exchange protocol, today announced the success of its pre-contribution window, which reached its hard cap of CHF 5 million in 25 minutes. By tokenizing real-time data, Streamr enables a new way for machines and humans to trade data on a decentralized P2P network.

“The centralization of existing data infrastructure has made current systems vulnerable, concentrated and uninspiring. As we watch the explosion of decentralized apps and technologies, now is the time for real-time data from connected devices to share that independence in a robust, secure, and durable way. Our platform provides the missing link that makes dreams of unrestricted, unstoppable data a reality,” said Henri Pihkala, CEO and co-founder of Streamr.

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 worked together for years to build an advanced streaming analytics platform that is now being decentralized by Streamr.

Henri Pihkala, CEO of Streamr, previously worked as a software developer and 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 industry. With a Ph.D. COO Risto Karjalainen brings a wealth of knowledge about real-time computing, machine learning and behavioral finance with a degree in Decision Sciences from the Wharton School at the University of Pennsylvania. Karjalainen previously worked as a quant and portfolio manager at JP Morgan and Merrill Lynch before delving into the world of real-time data and decentralized computing.

Streamr connects producers and consumers and aims to create a market for real-time data. The data market categorizes and presents publicly available data streams. The Streamr token, DATAcoin, is required to access and operate the market and to compensate nodes on the P2P network. Subscribers pay for the data with the token, while producers and participants are compensated automatically and securely.

As a technical expert, Streamr advises Julian Zawistowski, CEO and co-founder of Golem, the first global marketplace for untapped computing power. Recognizing the shared vision and complementary goals of the two projects, Streamr and Golem began addressing the technical overlap together in July 2017.

“This partnership brings together some of the most innovative minds in the industry. By working with Streamr, we not only improve efficiency, but also benefit the wider community. Working simultaneously opens the door to tremendous talent and technology. The partnership will take us step by step towards a decentralized future,” said Zawistowski.

Julian Zawistowski, a luminary in decentralized technology, joins Streamr’s distinguished Advisory Board, which consists of pioneers such as Wendell Davis, an early initiator for many blockchain-related companies and projects, including OmiseGO and Golem, Thomas Greco, Special Advisor to OmiseGO, and Dr. Luka Müller, co-founder of MME and legal advisor to Ethereum, Consensys and Bancor. Kimmo Halunen, Senior Scientist at VTT Technical Research Center of Finland with over 20 publications on information security and cryptography, has also joined Streamr as Cybersecurity Advisor.

“Streamr tries to provide unstoppable data for unstoppable applications. We cannot do this without the continued support of our passionate community. The overwhelming success of our pre-contribution phase is both encouraging and inspiring, and we are incredibly grateful to our early participants as well as the broader Streamr community,” added Pihkala.

The Streamr Precontribution Window opened on September 14 and was the first of its kind at Bitcoin Suisse, the world’s leading crypto asset broker and wealth manager. Based on a registration model, interested parties underwent a thorough Know Your Customer (KYC) evaluation prior to participation. Under this model, Streamr could proactively manage and prevent all risks associated with token sales while raising a significant amount.

Bitcoin Suisse Head of ICO and Streamr Advisor Nicolai Oster said:

“Working closely with the Streamr team has been exceptional and I am proud to help them as an advisor. In my job role, I see dozens of new projects every day, and Streamr stands out as a project with tremendous potential, backed by extensive technical experience and expertise.”

After the successful pre-contribution period, registration for the Streamr crowd contribution period will start on October 9, 2017 at 12:00 UTC with DATA tokens available at a rate of 1 CHF = 18.25 DATA. The total cap for all contributions is CHF 30 million.

Visit www.streamr.com for more information.

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