Nokia Unveils Blockchain Marketplace for Stock Information

Finnish multinational company Nokia has introduced its own marketplace of exchange data based on blockchain technology

Nokia has introduced its own blockchain-based exchange data marketplace called Nokia Data Marketplace. The Finnish company announced the launch of the marketplace on its official website.

The company said in a statement that the marketplace will allow partners from various industries to collaborate through a private blockchain. At the same time, the operating time uses artificial intelligence in real time to process large amounts of data.

Join our telegram channel to keep up to date with the main trends of the crypto market.

According to Friedrich Travoger, inand vice president of Cloud Technology at Nokia, telecom operators can now benefit from more extensive analytics and predictive models. The marketplace is expected to be suitable for collecting data on electric vehicle charging, monetizing environmental data, and automating logistics. However, it is not known whether Nokia uses the Ethereum blockchain as the basis or a self-written decentralized network.

Finnish Blockchain

It is worth noting that this is not the first development in the field of blockchain for Nokia. Back in 2017, the company used the technology in a medical data accounting system. Then the company used the developments of the Hyperledger blockchain ecosystem. The Finnish tech giant has been trying to fix its situation with new technologies for a long time.

Since 2008, Nokia (NOK) shares have remained mostly in a downtrend. The only time Nokia shares experienced a strong rally was during the GameStop stock hype. Traders from Reddit decided to jokingly inflate the unprofitable shares of the Finnish company, raising NOK shares by 89% to $9.79 in just a day.

See also: Ebang shares fall to all-time low

Source: finance.yahoo.com

The last time the Finnish company’s quotes were traded at this level was back in 2011. It is noteworthy that the benefits of the blockchain for the growth of stocks were previously recognized in Goldman Sachs. As the bank’s analysts found out, the shares of crypto / blockchain companies significantly outperformed the S&P 500 index in terms of payback.

What do you think? Share your thoughts with us in the comments and join the discussion in our Telegram channel

Disclaimer


All information contained on our website is published in good faith and objectively, and for informational purposes only. The reader is solely responsible for any actions taken on the basis of the information received on our website.

Shibnobi Builds On Its Gains, Announces Whitelist SweepWidget Contest For $Shinja Holders

As Shibnobi, the world's deadliest Shiba, continues to gain massive momentum, the team is...

Inaugural ZENCON a resounding success

Over 200 participants and attendees of the 68-Hour-Hackathon produced 24 projects across 5 categories...

Gulf Xellence announces the most exciting and largest CRYPTO FEST 2022 to be held on 19th – 20th October in Dubai,UAE

Witness the world of possibilities under one roof – attend CryptoFest 2022. CryptoFest 2022 is...