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Nokia launches private enterprise blockchain

Photo of: Joseph Stone
by Joseph Stone

Nokia launches Data Marketplace, a marketplace based on private blockchain. The technology aims to secure data exchanges, especially for their use in artificial intelligence.

Data is at the heart of many companies’ business models today, starting with the GAFAs. It is also essential for training artificial intelligence models.

The problem is that it is not always easy for companies to share their data with third parties in a secure way, and thus be able to add value to it. The solution may lie in the blockchain, which offers traceability mechanisms.

Private, or permissioned, blockchain is at the heart of the new platform launched by the Finnish carmaker Nokia. Data Marketplace aims to help businesses and communication service providers by giving them real-time access to significant data sets.

Data consumption is not the only aspect of this marketplace. As its name suggests, it also allows players to enhance their assets. How do they do this? By becoming data providers.

These companies, with their consent, can link their customers’ data with ecosystems. However, trust and security must be ensured.

This is the promise made by Nokia, which is promoting “reliable” data exchange and authorization mechanisms. Thanks to its marketplace, the Finnish company believes it can meet multiple sectoral use cases.

Nokia cites in particular the charging of electric vehicles, the monetization of environmental data, supply chain automation, and preventive maintenance.

And these uses can be of interest to multiple economic domains, such as transportation, ports, energy, smart cities and health. However, Nokia is not the only market player interested in data sharing.

In France, the API-Agro platform is involved in agricultural data exchanges. It allows users, particularly farmers, to deposit data sets and retain control over them.

The data producers define precisely the mode of availability (free, paying…) and the possible users of these data. Depending on the rules defined, the purchasers can exploit them, for example to design services for farmers.

Nokia applies the same principles, but with a multi-sector approach and the ability to expand internationally. Combined with Equinix data centers, the platform enables data and algorithms to be shared globally across more than 240 Edge locations.