A recent patent application revealed the company’s development of a device, method, and program for encrypting digital assets.
The patent was filed with China’s National Intellectual Property Administration (CNIPA) and disclosed on December 23rd. It hints at Nokia’s ambitions in digital asset security.
Nokia Explores Digital Asset Security with New Patent
The patent details a device and program that can encrypt digital assets, leveraging an index of these assets for its network function. While the technicalities may be a bit murky, one thing is clear: Nokia is exploring how to safeguard digital assets, potentially through a new encryption device. It’s a move that could open doors in a rapidly growing sector where security is king.
Nokia is stepping into the crypto space! The company has filed a patent for a “digital asset encryption program.”
Big moves in the blockchain world! #Crypto #Blockchain #Innovation pic.twitter.com/UChk9Ex8oA
— TradeDucky (@tradeducky) December 23, 2024
Cointelegraph reached out to Nokia for further details, but the company has yet to comment. However, this isn’t Nokia’s first foray into blockchain or innovative technology. In 2021, Nokia launched the Data Marketplace, a blockchain-based infrastructure for secure data transactions and analysis. Unlike fully decentralized blockchains, Nokia’s platform used permissioned blockchain technology. This will give participants access only after receiving approval.
Nokia’s Innovation: Metaverse Brewing and Digital Asset Patent
Nokia’s knack for thinking outside the box doesn’t stop there. In 2023, the company dabbled in metaverse technology, building a 5G-connected microbrewery. Using augmented reality (AR), researchers from Australia and Germany collaborated on brewing experiments, aiming to “perfect beer in the digital space.”
This latest patent aligns with Nokia’s larger vision for the future. Earlier this year, the company announced plans to invest heavily in its network architecture to support growing demands. By 2030, Nokia predicts a 22% to 25% surge in network needs, driving its commitment to expanding its equipment and services portfolio.
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