Nokia launches blockchain-powered Data Marketplace
Written by: Richard Hook | Published:
Nokia Data Marketplace logo The blockchain-powered Data Marketplace supports secure data trading and AI models (credit: Nokia)

Nokia has launched a new platform to facilitate data monetisation for businesses with secure sharing of data and artificial intelligence (AI).

The Nokia Data Marketplace as-a-service will offer what the Swedish telecoms giant claims is a “blockchain-powered data marketplace” aimed at data enterprises and communications service providers (CSPs).

The company says its new data marketplace will link into its existing Worldwide Internet of Things Network Grid (WING), which offers global IoT connectivity for a range of markets such as logistics and healthcare.

Potential uses of the “trusted data exchange and authorisation mechanisms” offered within the marketplace include electric vehicle charging, environmental data monetization, supply-chain automation and preventative maintenance in smart cities and healthcare.

The system is based around the use of AI and machine learning algorithms. It will form part of the DEDICAT 6G project by the European Union which aims to create a blockchain-enabled security framework and trust management platform for IoT applications running on B5G (Beyond 5G) networks.

Friedrich Trawoeger, vice president 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.”

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