In an issue released on Wednesday, Nokia announced that its new blockchain service offers transactions and data analysis as part of a secure, proprietary and authorized blockchain infrastructure.
As part of the announcement, Nokia stated that customers from various industries can join the blockchain network using decentralized technology to transfer data securely.
Text excerpt from the statement:
“[Nokia Data Marketplace] supports a wide range of vertical applications, including charging electric vehicles, generating revenue from environmental data, supply chain automation and predictive maintenance, that drive many vertical sectors including transportation, ports, energy, smart cities and healthcare. ”
As part of the vertical integration potential of the blockchain data market, Nokia also said the new service could allow other telecom providers to develop similar networks.
“With the Nokia Data Marketplace, companies and cloud service providers can leverage richer analytics and predictive models to drive digital adoption and take advantage of new revenue streams,” added Friedrich Traviger, vice president of cloud and cloud knowledge services, Nokia.
In addition to robust data sharing and revenue generation, Nokia is reportedly also planning to roll out a new platform to advance synthetic technology and machine learning through federal blockchain-based learning protocols.
Nokia will be the last company to launch a blockchain-based business service as this market segment sees significant growth in 2020. As previously reported by Cointelegraph, the enterprise blockchain has become a token-token as the main driver of adoption in 2021.
This significant growth in the company’s blockchain space has also positively impacted the price dynamics of decentralized ledger projects creating solutions in this market segment.
In fact, there has been a recent rise in the price of business-oriented cryptocurrencies such as Stellar (XLM), XinFin Network (XDC), and XRP.
Smartphone maker Nokia has announced the launch of Nokia Data Marketplace, a blockchain-based enterprise data marketing service.