Finnish multinational Nokia started its own blockchain data marketplace for AI-powered devices that use machine learning.
The project was named Nokia Data Marketplace. It will allow corporate clients to sell data used in the AI industry. In doing so, the company intends to encourage telecommunications companies to share the information they collect by offering a monetary incentive in return.
The software solution works on the basis of the Hyperledger Fabric blockchain, and the main purpose of applying the technology is to create an aggregator of data from decentralized sources to improve the machine learning process. Nokia hopes that the idea will find its application not only in telecommunications but also in electric vehicles, aerospace, transport and logistics operations, green energy, health protection, and even in the creation of smart cities of the future!
One of the above-mentioned topics today is critical for international carmakers. It is about the exchange of data about cars and electric vehicles connected to the common system. Companies will be able to transfer them to law enforcement agencies in the event of a controversial accident and car theft. Denso, in partnership with General Motors, is leading a group that is developing a vehicle information exchange system within the MOBI Alliance blockchain. Chinese automakers are also trying to keep up, regularly raising the issue of vehicle data sharing.
The company's vice president, in charge of cloud technologies, noted that carriers and their consumers will be able to tangibly benefit from the analytic data that will be exchanged within the network. Moreover, it's not the first development in the field of decentralized technologies for Nokia. In 2017, the company tested the Hyperledger blockchain-based storage system for healthcare institutions in collaboration with OP Financial Group.