Nokia Blockchain Powered Marketplace for Secure Sharing of Data and AI Models 

The launch of the Nokia blockchain-powered Data Marketplace was announced on Wednesday by the smartphone company. According to the announcement, the Nokia marketplace will facilitate secure sharing of data and AI models, enabling digital transformation and monetization for enterprises.

Nokia Announces Blockchain-Powered Data Marketplace

As data volumes continue to surge on a daily basis, Artificial Intelligence AI, and machine learning are playing a significant role in business decision making. 

Nokia Data Marketplace is designed to assist enterprises and Communications Service Providers (CSPs) that make use of data in strategic decision making, by delivering real-time access to huge trusted data sets.

The new service by the company monetizes data exchanges between customers or business ecosystem participants, which allows enterprises and CSPs to become data marketplace providers themselves. 

A statement from Justin van der Lande, Principal Analyst at Analysys Mason reads,

“Data sharing between enterprise partners is vital in building complete data sets. Facilitating data sharing using a secure platform, such as Nokia’s blockchain-based Data Marketplace, accelerates enterprises’ building of new data sets and creates richer business partnerships for them.”

Nokia Data Marketplace Features

According to the reports, Nokia Data Marketplace ensures;

“Trusted data exchange and authorization mechanisms. Enabling a wide range of vertical use cases, including electric vehicle charging, environmental data monetization, supply-chain automation and preventative maintenance powering numerous vertical segments, including transportation, ports, energy, smart cities and healthcare.”

Nokia Data Marketplace increases the AI initiatives through integrated learning. The approach combines the orchestration capabilities, facilitating collaboration with highly accurate machine learning models for analytics use cases. 

It also concerns the growing demand for a platform that can effectively apply both AI and machine learning algorithms to in situ data.

Friedrich Trawoeger, Vice President, Cloud, and Cognitive Services at the company said;

“With Nokia Data Marketplace, enterprises and CSPs can now benefit from richer insights and predictive models to drive digital ways of working and tap into new revenue streams.”