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.
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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.
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.
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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.
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