Protector was developed with Blebricks technology in order to give a quick and concrete response to the growing…
EcoSteer and Bleb Technology collaborate to develop an integrated data sharing platform
EcoSteer and Bleb Technology combine their expertise in IoT and Blockchain technologies and hardware components respectively to develop an integrated data sharing platform. The platform allows to share real-time data streams of one’s choosing produced by Bleb Technology’s customisable sensors in a controlled and GDPR-compliant manner, thanks to EcoSteer US-patented Data Ownership Platform. The collaboration enables the generation, sharing and monetization of IoT data streams in a simple, personalised and versatile way.
EcoSteer is an IoT and Blockchain software start-up for data ownership and monetization. Based on end-to-end encryption and smart contracts, EcoSteer patented Data Ownership Platform (DOP) provides the means to have full control over the visibility of data streams generated by connected IoT devices, namely the granting and revoking of data access, as well as its monetization. The compliance with the General Data Protection Regulation (GDPR) is implicit in its technology.
Bleb Technology is a start-up in the field of IoT that has developed and patented an instant sensor prototyping technology – Blebricks – allowing anybody to create new Wi-Fi devices. These hardware components are modular products permitting instant and simple prototyping of electronic devices for IoT applications, such as motion, presence or air quality sensors, just to name a few.
Blebricks with integrated Data Ownership Platform
The collaboration between EcoSteer and Bleb Technology gives life to customisable IoT sensors that produce real-time data streams, which can be shared and monetised in a GDPR-compliant manner via an integrated Data Ownership Platform. It represents a compelling opportunity to create significant value for both companies and individuals.
Given that the number of IoT devices worldwide is forecast to almost triple from 8.74 billion in 2020 to more than 25.4 billion IoT devices in 2030, spurring the growth of the IoT data monetisation market, which is set to reach €6.1 B by 2025, it is crucial to establish means of individual engagement and agency within this new data economy, from which individuals are still largely excluded. EcoSteer and Bleb technology partnership gives power back to the data owners, enabling them to control third-party access to the data streams produced by their sensors and to be compensated for data sharing. It endows the individual with an active role as a valuable and informed participant in the new data economy, without the fuss of having to know any of the underlying technical specifics.
At the same time, thanks to the availability of a wide range of sensors, including motion, infrared and air quality sensors, Blebricks allow companies to fast prototype new devices, massively reducing development time and costs from concept to production. Due to such an acceleration of device industrialization, companies have an opportunity to pervasively and rapidly digitalize domestic, urban and business environments.
Take an example of a Blebrick that monitors air quality. Due to the simplicity in which Blebricks can be assembled, a Util looking to monetize IoT Data could quickly produce customized air quality sensors and distribute them among consumers. After having connected the sensor to the network, a consumer is not only able to see whether the air in his/her home is clean, but also to share that data with third parties interested in acquiring it. The possibility to control third party access to sensors’ data and to monetize it is facilitated by EcoSteer’s Data Ownership Platform that is integrated directly into Blebricks.
Based on end-to-end encryption and blockchain smart contracts, the Data Ownership Platform has been granted a US patent in only two months, empowering data owners to have granular control over third-party access to their data and to be compensated for data sharing in tokens. Most importantly, data is encrypted at the point of its generation – the air quality sensors – and can only be decrypted at the point of usage – any third party’s application – after explicit and informed consent from the individual. This consent is granted through a blockchain smart contract that also sets the value of data in tokens.
Moreover, the Data Ownership Platform allows companies – the Utility in this case – to deploy their own Data Streams Marketplaces and involve consumers and business partners into the data value chain. Consumers can then share their sensors’ data directly with chosen corporate business partners – e.g. energy efficiency management companies, white goods manufacturers, insurance companies – and be remunerated for it with tokens that can be used to buy products and services on the same Marketplace. The Utility will generate new revenue streams from marketplace transaction fees, at the same time providing its customers with a new and rewarding user experience.
Therefore, the Bleb Technology-EcoSteer integrated data sharing and monetization platform establishes a strong foundation for a flourishing data economy for both companies and customers. By minimising the effort and investment needed to produce IoT devices and facilitating the tools to acquire data in a GDPR-compliant manner, it transforms businesses into Data Companies that are future-proof. In turn, individual customers become the main actors of a new data economy that have control over sharing and monetising their data.