Nokia Launches Blockchain Data Marketplace
Nokia has announced a new blockchain-based service that will allow data to be sold and used for AI and machine learning.
The Nokia Data Marketplace aims to incentivize businesses and telecommunications companies to share their data by providing a monetary incentive.
To ensure the confidentiality and legitimacy of the data exchanged, the solution employs the Hyperledger Fabric enterprise blockchain and allowing.
The ultimate goal is to compile data from disparate sources for machine learning. It also allows federated understanding.
Data is kept local, a machine learning algorithm is run, and updates are fed back to enhance the model without the underlying information being shared.
The data could come from IoT devices in many cases. Nokia sees the solution being used in various industries, including connected cars and aerospace, as well as ports, electricity, smart cities, and healthcare.
Data sharing and connected cars are a hot subject. Denso and General Motors recently led a working group to develop the MOBI Alliance’s new blockchain mobility data sharing standards.
In addition, China’s automakers have introduced a blockchain-based solution for sharing connected vehicle data.
Data monetization has proven to be the everyday use of public blockchains. Daimler, for example, is conducting a test with Ocean Protocol.
Because many businesses do not want to share their underlying data, analytics and AI can be performed locally, and the main metrics communicated back.
Fetch is a public blockchain AI solution.
Recently, AI collaborated with Bosch. It wants to use collective learning to train AIs that will be used in its devices.