Nokia (NOK) enters blockchain space, stock skyrockets

Nokia (NOK) enters blockchain space, stock skyrockets

It’s official, Nokia (NOK) has finally entered the blockchain space. The company has announced that is has launched a blockchain marketplace for secure data trading and artificial intelligence (AI).

It is designed to enable trusted exchanges and monetization of data via private blockchain and accelerates initiatives in AI and machine learning through federated learning. It currently offers secure multi-party transactions to benefit a wide range of industries.

The launch of Nokia Data Marketplace as-a-service will enable digital transformation and data monetization for enterprises.

The release states that 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.