Nokia announces blockchain-powered data marketplace

Smartphone maker Nokia has introduced the launch Nokia Data Marketplace — the corporate’s enterprise-grade blockchain-based data marketplace infrastructure service.

In a launch issued on Wednesday, Nokia revealed that its new blockchain service reportedly presents data transaction and evaluation inside the framework of a safe personal, permissioned blockchain infrastructure.

As a part of the announcement, Nokia declared that purchasers throughout numerous industries can take part within the blockchain community, leveraging the advantages of decentralized technology for trusted data switch.

An excerpt from the discharge reads:

“This [the Nokia Data Marketplace] enables 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.”

As a part of the vertical integration potential of its blockchain data marketplace, Nokia additionally said that the brand new service may allow different communication service suppliers to develop related networks.

“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,” added Friedrich Trawoeger, vice chairman of cloud and cognitive companies at Nokia.

Apart from trusted data alternate and monetization, Nokia can also be reportedly eyeing the deployment of the brand new platform towards advances in synthetic technology and machine studying by way of blockchain-based federated studying protocols.
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Nokia turns into the most recent firm to debut a blockchain-based enterprise service because the market sector skilled vital progress in 2020. As beforehand reported by Cointelegraph, enterprise blockchain has been touted as a major adoption driver for 2021.

This vital progress within the enterprise blockchain area has additionally positively impacted the worth motion of decentralized ledger technology initiatives which can be constructing options on this market section.

Indeed, enterprise-focused cryptocurrencies like Stellar Lumen (XLM), XinFin Network’s XDC, and XRP have skilled upward price movements in latest occasions.