Nokia Launches Blockchain-Powered Marketplace for Data Trading

Nokia has designed a blockchain-based marketplace “as a service” to facilitate the data sharing and artificial intelligence (AI) models.

Nokia Launches Blockchain-Powered Marketplace for Data Trading

According to a press release issued on Wednesday, The Nokia Data Marketplace, what it is called, aiming to provide enterprises and communication service providers (CSPs) the ability to access trusted datasets and improve business decision making. Some of the stated key areas of the service are Data monetization, accelerating AI and machine learning, and multi-party transactions. Nokia emphasizes “trusted data exchange” and “authorization mechanisms.”

The marketplace also seeks to provide the ability to become data marketplace providers through the monetization of data swaps between customers or business participants.

Nokia forecasting that the marketplace will empower various vertical use cases, including electric vehicle charging, environmental data monetization, supply-chain automation, and preventative maintenance.

“Our customers need secure and trusted access to data for effective business decision making,” said Friedrich Trawoeger, vice president of Cloud and Cognitive Services at Nokia. “Enterprises and CSPs can now benefit from richer insights and predictive models to drive digital ways of working and tap into new revenue streams.”