Nokia has announced the launch of its Data Marketplace, a blockchain-based service providing real-time access to massive trusted datasets.
Friedrich Trawoeger, VP of Cloud and Cognitive Services at Nokia, said:
“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.”
Nokia Data Marketplace accelerates AI initiatives through federated learning. This approach, combined with orchestration capabilities, facilitates collaborative development of highly accurate machine learning models for analytics use cases. It also meets growing demand for a platform that can efficiently apply AI and machine learning algorithms to in situ data.
Nokia Data Marketplace complements Nokia Worldwide IoT Network Grid (WING), which offers global IoT connectivity and vertical applications. For example, Nokia WING’s asset tracking solution is enriched by Nokia Data Marketplace’s blockchain to provide secure and automated data exchange and transactions between logistics’ ecosystem partners for faster turnaround.”
Data Marketplace facilitates the sharing of data and AI models between enterprises and communications service providers (CSPs).
Kaladhar Voruganti, Senior Fellow, Office of the CTO at Equinix, commented: “Nokia Data Marketplace combined with Equinix data centres allows organisations to share data and algorithms globally at more than 240 metro edge locations.”
The platform also enables the monetisation of data exchanges between customers or business ecosystem participants.
Wouter van Neerbos, Chief Executive Officer at Marlin, explained: “Through automated data exchange among shipping participants, Nokia brings us the transparency and operational efficiency required in our global marine supply chain.
“This reduces waiting time for shipping participants in the marine ecosystem, enables faster turnaround for ships, and reduces our costs.”
After losing their early association with cryptocurrencies, blockchains are now finding increasing real-world adoption in enterprises around the world as powerful digital ledgers which provide trust and security.
Justin van der Lande, Principal Analyst at Analysys Mason, commented: “Data is the energy needed to run all future business; critical to their success in creating the best AI-based insights and needs access to the largest data sets.
“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.”
More information about Nokia Data Marketplace can be found here.
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