Crypto Almanac - Part 267 Beginners Guide

Source. Crypto info.com

What is Streamr DATAcoin?

Streamr DATAcoin is a product focusing on the frictionless exchange of data and the monetization of that data. It works off-chain (as in, it doesn't have its own blockchain) and the aim is to work with any other blockchain (for example Bitcoin, Ripple) that requires its services. At the moment Streamr DATAcoin works solely on the Ethereum network, allowing developers to utilize Smart Contracts to facilitate machines and individuals to trade data.

What it all boils down to is that Streamr DATAcoin is a marketplace for users to publish and consume data. The hope of the company is to break the hold that big business has over data monetization with their cloud services (such as Amazon and Google).

The Streamr DATAcoin marketplace hopes to offer a huge amount of data for endless use cases. Machines can transmit data to each other across the world, developers can use the system to access data streams for their decentralized Apps (DApps) or individual users can simply input their own workout metrics from their Fitbit and allow researchers to access the information (at a price!) for an exercise study.