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Nokia (EURONEXT: NOKIA), the Finnish transnational company, in a cooperation with Streamr, a blockchain platform and OSIsoft, will develop a blockchain product that allows smartphone users to monetize information.

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Chief executive Streamr Henri Pihkala announced the partnerships at Consensus 2018 conference on Wednesday.

According to its developers, Nokia's Kuha base stations will integrate with Streamr's data marketplace and will allow Nokia customers to both monetize their user data and purchase streams from Internet of Things devices (IoT).

The solution will involve smart contracts Ethereum, and a token of the standard ERC20 called DATAcoin. OSIsoft will provide corporate customers the opportunity to receive revenue from the sale of data related to their operations.

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