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Nokia is now launching a new blockchain-powered service

The blockchain-powered marketplace will offer trusted data and AI models for enterprises.
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The blockchain-powered Nokia Data Marketplace will offer trusted data and AI models for enterprises.

The feature was built to make it easier for enterprises and communications service providers (CSPs) to utilize data for improving their decision-making. This will be achieved through immediate access to reliable datasets according to Nokia.

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Friedrich Trawoeger

“Our customers need secure and trusted access to data for effective business decision making. 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.”

Friedrich Trawoeger, Vice President, Cloud and Cognitive Services at Nokia

According to a press release published on Wednesday, the new feature will also allow enterprises and CSPs to be contributors to data gathering as well. The marketplace will enable several 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.”

The new service adds to Nokia Worldwide IoT Network Grid (WING). Nokia’s WING offers users global IoT connectivity and vertical apps. Nokia WING’s asset tracking feature is boosted by the data marketplace’s blockchain, offering a reliable and automatic exchange of data and transactions.

“Nokia Data Marketplace combined with Equinix data centers allows organizations to share data and algorithms globally at more than 240 metro edge locations. Our Metal platform augments this to provide secure, proximate, on-demand infrastructure to enterprises and government agencies. Sharing and processing of data close to its point of creation mitigate issues related to latency, compliance, and network backhaul cost. These neutral and secure edge locations are connected via high-speed and secure networks to data sources spanning across public clouds, private enterprise data centers, and data brokers.”

Kaladhar Voruganti, Senior Fellow, Office of the CTO at Equinix

Services the marketplace will offer:

  • Enable trusted exchanges and monetization of data via private blockchain
  • Accelerates initiatives in AI and machine learning through federated learning
  • Secure multi-party transactions to benefit a wide range of industries
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