Streamr Data Challenge Drives The Paradigm Shift Towards The Web3 Wave In Data Economy Among The Ind
Streamr, the world’s leading decentralized network for real-time data, announced project Vidhira from team Atmanirbhar from Shri Ramdeobaba College of Engineering and Management, Nagpur as the winner of the Streamr Data Challenge, an open innovation program that encourages the Indian developer ecosystem to create more valuable data economies through Streamr’s Data Union framework. The winning four-member team will receive $5000 as grant money along with go-to-market support through its vast investor network and mentoring to build a strong foundation for capital-efficient growth. The Hackathon was launched by Streamr Network in India in partnership with Lumos Labs, an innovation management firm specializing in running technology open innovation programs in India to expand Streamr’s developer ecosystem to India.
The project Vidhira by team Atmanirbhar was selected after multiple rounds of shortlisting from a pool of over 200 registrations spanning across various industry verticals, including healthcare, media/entertainment, and IoT-based products. The 4 months long Hackathon was interspersed with multiple meetups followed by a two-week-long intensive integration period. The 20 projects selected for the first cohort were incentivized by a $200 build grant each and the top five startups and developers pitched their projects to a live panel of judges including Mathew Fontana, Head of Ecosystem, Streamr along with Marlene Ronstedt, PR and Events Executive, Streamr at a virtual Demo day. The event also saw a panel discussion on the Internet of Ethereum with experts from the blockchain space who understand decentralized performance, developer and user experience, and most importantly data handling including Henri Pihkala, Founder & CEO, Streamr, Harsh Rajat, Founder, EPNS, Aniket Jindal, Founder, Biconomy, Arjun Kalsy, VP- Growth, Polygon, Ganesh Swami, Co-founder, Covalent and Raghu Mohan, Co-founder & CEO, Lumos Labs.
Vidhira is an application developed by a four-member team, team Atmanirbhar, from the Shri Ramdeobaba College of Engineering and Management to safeguard content creators from plagiarism. Their decentralized web application, Vidhira, allows content creators to showcase their work without having to worry about their content being plagiarised by tagging their content with a unique ID. The Data Union records this information and streams it to a marketplace where people looking to buy content can pay for it, which in return rewards the creator of the content.
As the world evolves to the next phase of the internet- the Web3 ecosystem that transitions towards a democratized internet, creating an internet ecosystem that works for the people and by the people; the Streamr data union enables internet users the ability to sell their data. By integrating into the Data Union framework, the participating developers of the Streamr Data Challenge can easily bundle and crowdsell the real-time data that their users generate, gain meaningful consent from users and reward them by sharing data sales revenue. In effect, this enables the Indian developers to create an open data ecosystem and thereby democratizing the data economy.
Henri Pihkala, CEO and Co-Founder at Streamr, said:
“The Streamr Data Challenge was established with the goal to educate Indian developers about Streamr’s unique Data Union framework. We’re touching a completely new territory here right now, where the combination of crypto and data crowd-sourcing can open up entirely new incentive models and use cases for internet users. And I’m excited and happy to see that this fusion has brought about some pretty interesting use cases. We’ve seen projects integrate the framework into existing apps such as medical ML use cases, but also entirely new products which are primarily focused on crowd-sourcing information. This is only the beginning of building the decentralised Web 3 and I’m looking forward to seeing the space grow going forward.”
Streamr is a distributed, open-source, software project, founded in 2017 with the mission of creating a decentralized platform to trade and distribute information while allowing people to regain control over the data they produce. Through its Data Union concept, individuals can crowdsell their information through the Streamr Network along with their fellow Data Union members. Designed for safe data delivery and exchange, the Streamr Network is scalable, low-latency, and secure.
Learn more: https://www.streamrdatachallenge.com
Streamr is a distributed open-source project, crowdfunded in 2017. The project’s goal is to build a decentralized infrastructure for real-time data, replacing centralized message brokers with a global peer-to-peer network. By relying on cryptography instead of trust, the open-source network aims to enable data sharing and monetization in IoT and smart cities, business consortia, individual crowd selling through Data Unions, and the decentralized web (Web 3.0).
The Streamr tech stack includes a pub/sub messaging network, a data marketplace to trade and crowdsell real-time data, and a real-time data toolkit.
For more details, visit – https://streamr.network/
About Lumos Labs
Lumos Labs is a Singapore-based innovation management firm that specializes in running technology open innovation programs. Founded in 2018, the company has run several accelerators and open innovation programs for multiple Indian and international technology firms, corporates, governments, and investment firms. Our services include Growth Services, Open Innovation, Start-up Enablement, and organizing large-scale developer & technology conferences & hackathons. Our clients include Aeternity Starfleet Blockchain startup accelerator, T-block blockchain startup accelerator, Genesis hack – A Blockchain Hackathon, Binance Build for Bharat Accelerator
For more details, visit – https://www.lumoslabs.co/
Head of PR