Nokia launches blockchain-powered Data Marketplace for secure data trading and AI models

Press Release

Nokia launches blockchain-powered Data Marketplace for secure data trading and AI models 

• Designed to enable trusted exchanges and monetization of data via private blockchain
• Accelerates initiatives in AI and machine learning through federated learning
• Offers secure multi-party transactions to benefit a wide range of industries 

5 May 2021

Espoo, Finland – Nokia today announced the launch of Nokia Data Marketplace as-a-service to facilitate secure sharing of data and AI models, enabling digital transformation and data monetization 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 monetizing data exchanges between customers or business ecosystem participants.

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

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.*