Nokia announces blockchain-based data market

Smartphone manufacturer Nokia announced the launch of Nokia Data Market, the company’s enterprise-level blockchain-based data market infrastructure service.

In release release On Wednesday, Nokia revealed that its new blockchain service reportedly provides data transactions and analysis within a secure privately licensed blockchain infrastructure.

As part of the announcement, Nokia announced that customers from all walks of life can participate in the blockchain network and use the advantages of decentralized technology for trusted data transmission.

The excerpt from this version is:

“This [the Nokia Data Marketplace] Supports a wide range of vertical use cases, including electric vehicle charging, environmental data monetization, supply chain automation and preventive maintenance, and powers many vertical market segments such as transportation, ports, energy, smart cities, and healthcare. “

As part of the vertical integration potential of its blockchain data market, Nokia also stated that this new service may enable other communication service providers to develop similar networks.

Friedrich Trawoeger, Vice President of Nokia Cloud and Cognitive Services, added: “With the help of Nokia Data Market, companies and CSPs can now benefit from richer insights and predictive models to drive digital work. Ways and use new sources of income.”

According to reports, in addition to reliable data exchange and monetization, Nokia also hopes to achieve advances in artificial technology and machine learning in the deployment of new technologies through a blockchain-based joint learning protocol.

With the significant growth of the market in 2020, Nokia has become the latest company to launch blockchain-based enterprise services.As previously reported by Cointelegraph, enterprise blockchain is touted as Main adoption drivers in 2021.

This significant growth in the enterprise blockchain field has also positively affected the price behavior of decentralized ledger technology projects that build solutions in this market segment.

Indeed, enterprise-centric cryptocurrencies such as Stellar Lumen (XLM), XDC of XinFin Network and XRP experienced Price increased recently.