# LOOMIA Announces Collaboration WithStorj Labs, Introduces Smart Fabrics and Consumer Data to Blockchain Technology Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-10-27 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: LOOMIA and Storj Labs Partner to Bring Decentralized Cloud Meta Description: LOOMIA and Storj Labs team up to offer secure, peer-to-peer cloud storage for consumer data collected by smart products integrated with LOOMIA technology. URL: https://financedigest.com/loomia-announces-collaboration-withstorj-labs-introduces-smart-fabrics-and-consumer-data-to-blockchain-technologyhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd271017-17-1736843350534-compressed.jpg) _Technology company LOOMIA and Storj Labs bring decentralized, peer-to-peer cloud storage directly to consumers_ [LOOMIA](http://www.loomia.co), a technology company adding intelligence to everyday objects, today announced a partnership with [Storj Labs](https://storj.io/index.html), 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](https://www.financedigest.com/direct-to-consumer-the-rite-of-passage-for-retail-in-2022.html "Direct to Consumer: the rite of passage for retail in 2022") 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](https://www.financedigest.com/vodafone-leverages-gumgums-contextual-intelligence-platform-to-increase-purchase-intent-around-samsung-galaxy-z-flip3.html "Vodafone leverages GumGum’s contextual intelligence platform to increase purchase intent around Samsung Galaxy Z Flip3") their expertise and platform to provide a truly decentralized platform for LOOMIA TILE. Beyond the clear security and [data storage](https://www.financedigest.com/data-storage-market-revenue-is-expected-to-increase-at-a-cagr-of-13-6-during-2021-2025.html "Data Storage Market revenue is expected to increase at a CAGR of 13.6% during 2021-2025") 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](https://www.financedigest.com/sales-of-vacuum-blood-collection-devices-are-forecast-to-reach-us-4-2-bn-by-the-end-of-2031.html "Sales of Vacuum Blood collection Devices are forecast to reach US$ 4.2 Bn by the end of 2031"). First, [data is gathered from the LOOMIA Electronic layer](https://www.financedigest.com/three-layers-of-hybrid-workforce-data-for-financial-institutions.html "Three Layers of Hybrid Workforce Data for financial institutions") (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](https://www.financedigest.com/binance-to-convert-users-usd-coin-into-its-own-stablecoin.html "Binance to convert users’ USD Coin into its own stablecoin") 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](https://www.financedigest.com/smart-home-devices-market-is-expected-to-grow-at-a-healthy-cagr-of-over-18-during-the-study-forecast-period-2021-2031.html "Smart Home Devices Market is expected to grow at a healthy CAGR of over 18% during the study forecast period 2021-2031"), 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](https://www.financedigest.com/community-giving-an-investment-that-really-matters.html "Community Giving: An Investment That Really Matters") 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](https://www.financedigest.com/navigating-consumer-data-in-the-finance-industry.html "NAVIGATING CONSUMER DATA IN THE FINANCE INDUSTRY") 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](https://www.financedigest.com/industrial-degreaser-market-2022-by-global-key-players-types-applications-countries-industry-size-and-forecast-to-2030.html "Industrial Degreaser Market 2022 by Global Key Players, Types, Applications, Countries, Industry Size and Forecast to 2030"). This process, along with a large decentralized network and LOOMIA’s anonymous, biometric [digital identity](https://www.financedigest.com/transparency-and-decentralisation-the-remedy-to-our-digital-identity-fears.html "Transparency and decentralisation, the remedy to our digital identity fears"), 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](https://www.financedigest.com/securing-financial-institutions-with-the-help-of-pam-solutions.html "Securing financial institutions with the help of PAM solutions"). --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---