Finnish telecom firm Nokia has launched the Data Marketplace service, a blockchain-powered platform that facilitates instant access to huge trusted datasets. In an official press statement, Nokia stated that the service would enable partners from different sectors to collaborate via a private blockchain.
This marketplace leverages data monetization, machine learning, artificial intelligence, and multi-party transactions to provide data exchange and authorization strategies and mechanisms.
The service also plans to offer enterprises and communication service providers (CSPs) a viable platform to access trusted datasets to enable them to make better business decisions. The Vice President, Cloud and Cognitive Services at Nokia, Friedrich Trawoeger, said:
“Our customers need secure and trusted access to data for effective business decision making. Enterprises and CSPs can now benefit from richer insights and predictive models to drive digital ways of working and tap into new revenue streams.”
Other Use Cases
Nokia says that it wants the marketplace to facilitate multiple vertical applications like supply-chain automation, electric vehicle charging, preventative maintenance, and environmental data monetization.
The Nokia Data Marketplace is expected to act as a complement to the Nokia Worldwide IoT Network Grid (WING) that offers global Internet of Things connectivity and vertical applications.
Moreover, the new service is not the first time that Nokia is venturing into the blockchain ecosystem. Previously, the company partnered with Streamr, a DLT-powered data-sharing platform, to create a data monetization solution for its clients.