Nokia’s Latest Patent Application for Encrypting Digital Assets
Nokia has recently applied for a patent focused on encrypting digital assets, as reported by local Chinese media outlet Sina Finance on Dec. 23. The patent application, filed in June 2024, was published under CN119155674.
Key Features of the Technology
- The technology encrypts assets using a first key to create a secure data version.
- The encrypted asset is then assigned an index for network functionality and linked to an entity through an identifier.
As of press time, Nokia has not yet responded to requests for comment regarding this patent application.
Nokia’s Expansion into Emerging Sectors
Market observers have pointed out that Nokia’s move into digital asset encryption signifies its expansion beyond telecommunications and network technology. Despite losing ground in the mobile phone sector, Nokia remains a prominent global technology company with a diverse patent portfolio.
In earlier announcements, Nokia disclosed plans to develop network architectures tailored to innovation-driven industries, including blockchain, smart contracts, artificial intelligence, and the Internet of Value. The company anticipates significant growth in these areas by 2030.
“Advances in semiconductors, software, artificial intelligence and machine learning, metaverse technologies, Web3 and cloud technologies will continue to accelerate. These technologies will significantly extend the scope of what is possible, connecting and merging the human, physical and digital worlds to help solve some of the greatest global challenges we face.”
Nokia’s Showcase of 5G-Powered Digital Factory Twins
In a recent demonstration, Nokia showcased how its 5G-powered digital factory twins can bridge the physical and virtual worlds. Real-time data from thousands of sensors enables instant optimization and predictive maintenance for production lines.
