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November 27, 2022
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Nokia is launching a new service based on blockchain –

Nokia unveiled Nokia Data Marketplace on Wednesday, a service related to blockchain technology, which is expected to offer paid data exchange and analysis capabilities. IN statement the company said the service will allow its partners across industries to collaborate via a private blockchain, using artificial intelligence and real-time automated mechanisms. All this to cope with rapidly growing data volumes.

Nokia is betting on blockchain

In a statement, the company mentions the advantages of the new service:

The new service enables enterprises and communication service providers to become data market providers by monetizing the exchange of data between customers or participants in the business ecosystem.

Friedrich Trawoeger, vice president of Cloud Data Exchange Technologies at Nokia, said:

Our clients need secure and trusted access to data to make effective business decisions.

It should be noted that Nokia’s blockchain differs from a decentralized open-source blockchain such as Bitcoin is based on. Its network is protected by a single company, not – as is the case with the BTC blockchain – by multiple participants such as miners or programmers.

The largest ones invest in blockchain

The new activities of Nokia are in line with a broader trend that we see on the market. For example, Commerzbank and Deutsche Börse have just started cooperation aimed at creating a blockchain-based real estate and works of art market. Both financial institutions have also established cooperation with 360X, a company from the fintech market. We wrote about it here.

In turn, the Australian authorities will most likely create a land registry that will be based on a blockchain. Australian Senate Committee published report calling on his country’s government to do so.

Nevada Governor Steve Sisolak also wants a special zone for new technologies:

The Innovation Zones are a bold proposition for our state that deserves additional attention and discussion – and not under the pressure of less than 40 days remaining until the end of the current legislative session. I know lawmakers, stakeholders and Nevada residents still have questions, and I want these questions discussed and answered. I want people to be enthusiastic about this occasion, not skeptical about it.

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