Monday, 10 May 2021 20:23

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

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Designed to enable trusted exchanges and monetisation of data via private blockchain, Nokia says this development accelerates initiatives in AI and machine learning through federated learning and offers secure multi-party transactions to benefit a wide range of industries.

Nokia has announced the launch of 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, Nokia reminds us that “AI and machine learning are increasingly crucial in business decision making.”

Naturally, Nokia says its 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.”

We’re told 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 further informs us its “Data Marketplace ensures trusted data exchange and authorisation 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.*

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

Wouter van Neerbos, Chief Executive Officer at Marlin, said: “Through automated data exchange among shipping participants, Nokia brings us the transparency and operational efficiency required in our global marine supply chain. This reduces waiting time for shipping participants in the marine ecosystem, enables faster turnaround for ships, and reduces our costs.”

Justin van der Lande, Principal Analyst at Analysys Mason, said: “Data is the energy needed to run all future business; critical to their success in creating the best AI based insights and needs access to the largest data sets. Data sharing between enterprise partners is vital in building complete data sets. Facilitating data sharing using a secure platform, such as Nokia’s blockchain-based Data Marketplace, accelerates enterprises’ building of new data sets and creates richer business partnerships for them.”

Here is Nokia’s Data Marketplace video:

 


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Alex Zaharov-Reutt

Alex Zaharov-Reutt is iTWire's Technology Editor is one of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

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