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Nokia Announces Blockchain-Based Data Marketplace

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  • Nokia has announced the Nokia Data Marketplace launch.
  • The company declared that clients could participate in the network of blockchain.

Nokia is a Smartphone maker company that has announced the Nokia Data Marketplace launch. Moreover, Nokia Data Marketplace is the enterprise-grade blockchain-based data marketplace infrastructure service of the company.

Recently, Nokia’s new blockchain service has reportedly provided data analysis and transactions within the framework of a secure private, permissioned blockchain infrastructure, according to the post on Nokia.

More so, Nokia declared that clients could participate in the network of blockchain. However, it leverages the advantages of decentralized technology for trusted data transfer.

The announcement adds,

This [the Nokia Data Marketplace] 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.

Moreover, Nokia also explained that the new service allows other communication service providers to create similar networks. However, as part of the potential of vertical integration of its blockchain data marketplace.

In addition, Friedrich Trawoeger, the Vice President of Cloud and Cognitive services at Nokia, also explained his view. However, Friedrich explained through Nokia Data Marketplace can profit from richer insights and predictive structure. In order to drive digital methods of working and enter into new revenue streams

Added to this, Nokia is also reportedly viewing the deployment of the new platform reaching artificial technology and machine learning advances through blockchain-related federated learning protocols.

Even more, Nokia is the latest company to debut the services of blockchain-based enterprise as the market sector experienced significant growth in 2020. Furthermore, the enterprise blockchain has been predicted as a major adoption driver for 2021.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.