Nokia unveils as-a-service blockchain-enabled Data Marketplace

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Nokia has launched Nokia Data Marketplace as-a-service to facilitate secure sharing of data and AI models, enabling digital transformation and data monetisation for enterprises.

As data volumes continue to surge, AI and machine learning are increasingly crucial in business decision making. Nokia Data Marketplace is designed to help enterprises and communications service providers (CSPs) use data in strategic decision making, by providing real-time access to massive trusted datasets.

The new service also enables enterprises and CSPs to become data marketplace providers themselves, by monetising data exchanges between customers or business ecosystem participants.

Nokia Data Marketplace ensures trusted data exchange and authorisation mechanisms. This enables a wide range of vertical use cases, including electric vehicle charging, environmental data monetisation, supply-chain automation and preventative maintenance powering numerous vertical segments, including transportation, ports, energy, smart cities and healthcare.

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Friedrich Trawoeger, Vice President, 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.*

Kaladhar Voruganti, Senior Fellow, Office of the CTO at Equinix, adds: “Nokia Data Marketplace combined with Equinix data centers allows organisations 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 mitigates 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.”