NEWS

LOOMIA Announces Collaboration WithStorj Labs, Introduces Smart Fabrics and Consumer Data to Blockchain Technology

Technology company LOOMIA and Storj Labs bring decentralized, peer-to-peer cloud storage directly to consumers

LOOMIA, a technology company adding intelligence to everyday objects, today announced a partnership with Storj Labs, a decentralized cloud storage provider, to host consumer data collected by smart products integrated with LOOMIA technology. LOOMIA brings enhanced functionality to everyday objects by collecting data from consumer habits, such as frequency of wear, location, level of activity, and temperature, among others. The partnership with Storj will allow users to transfer their data from LOOMIA’s hardware component, the Tile, to a secure peer-to-peer, decentralized cloud storage network. This partnership will directly introduce LOOMIA consumers to the practicality and security of Storj’s decentralized platform, connecting two companies that are bringing innovation to traditional industries through their distinctive technological advances.

JanettLiriano CEO of LOOMIA said: “LOOMIA is excited to partner with STORJ and leverage their expertise and platform to provide a truly decentralized platform for LOOMIA TILE. Beyond the clear security and data storage benefits, this partnership adds another layer of utility for TILE tokens which can be seamlessly exchanged for access to Storj’s network. By leveraging expertise of great partners like STORJ, we look forward to pioneering bringing the benefits of blockchain technologies to a wider audience.”

LOOMIA is transforming consumer goods to be data-collecting identity tools where customers have complete control over the information collected from their clothing and other devices. First, data is gathered from the LOOMIA Electronic layer (LEL), which is composed of a flexible circuitry embedded in the materials. The data coming from the LEL is stored on a hardware component called the LOOMIA Tile. Data from the Tile is backed up to Storj, which secures users’ data through its decentralized, end-to-end encrypted cloud storage platform. Users also have the choice to sell their data to brands and other third-parties through the LOOMIA Data Exchange. Users control access to the data and earn tokens which can be converted to digital currencies or exchanged for rewards with brands or third parties. LOOMIA’s technology and partnerships are turning consumer goods into a new category of smart devices, and empowering users to monetize that intelligence through a crypto-rewards system.

John Quinn co-founder and Chief Revenue Officer of Storj Labs said: “One of our goals when starting Storj Labs was to give our community control of their data, as opposed to hosting data on legacy cloud platforms where it was controlled by third-parties. This parallels LOOMIA’s mission as well, making us natural partners aligned around securing the data of our users. We look forward to working together to revolutionize data ownership for the modern, digital age.”

LOOMIA’s collaboration with Storj will create an additional layer of security for users and assist in organizing data that consumers are affirmatively willing to sell through blockchain-based transactions. Storj encrypts, shreds, and distributes data pieces across its global network and provides only the customer with an encrypted access key. This process, along with a large decentralized network and LOOMIA’s anonymous, biometric digital identity, further protects consumer data. By leveraging Storj Labs’ decentralized cloud storage platform, LOOMIA users can take advantage of the network’s inherent security and user benefits over legacy solutions.

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