Nokia, a global leader in the manufacture of smart devices and provider of different forms of wireless networks in different industries has launched a blockchain service that aims to solve the challenges that inhibit full adoption of many IOT products in urban settings. The new service is a turnkey product in the market that no one else offers at such high infrastructure levels.
The idea behind the Nokia’s blockchain sensor-as-a-service is to enable Internet of Things devices, which pretty much means all smart hardware in the open world, to access mobile network operators (MNOs) , most of which are invested in Nokia’s cell site equipment. Nokia can set up and upgrade such devices to boost their efficiency and expand their functionality while cutting the costs of equipment and manpower.
The network providers can benefit from the service by making commission from the monetization of existing infrastructure like cell towers, and by selling environmental data captured by sensors to third-parties.
Why Blockchain Will Help IOT Devices And MNOs
The primary function of the sensor-as-a-service that Nokia launched is to sell captured sensor data and offer them to other companies and organizations at a fee. As mobile network operators suffer loss of revenue due to improved global connectivity and the flattening of the consumer smartphone sales, it is important that they diversify to begin providing data that cities, companies, and even individuals need to improve their day-to-day operations and activities.
Nokia has discovered that cities are striving to be smarter, and digital strategies being put in place to increase service delivery efficiency, manage public and private assets, and generally turn a city ‘smart’ requires granular real-time data. Such data may include traffic and transportation, and environmental data such as temperature and rainfall.
By adopting blockchain technology, Nokia has ventured into the unchartered waters as far as data capture is concerned. The best part about this strategy is that the new blockchain technology will not only ensure that the data captured is securely stored and transmitted, but also ensure the integrity of the transmitted data.
Nokia’s Sensing-as-a-Service And Smart Cities
Sensing as a service is designed to provide real-time data and comes with intelligent analytics software that industry players can use to choose the exact type, format, and amount of data to retrieve from the sensor stations. Considering that smart cities of the future will be set up on a fully integrated, scalable modular framework, it is vital that network operators and city planners take advantage of such a unified management system Nokia is offering.
Blockchain will be used ingeniously to capture and record data, for billing and payment, and basically eliminate all expenses and costs associated with ensuring data integrity and security. It is already clear that network operators are embracing Nokia’s Sensing as a service – it is only a matter of time before it becomes a mainstream product.