On Dec. 23, the Chinese news outlet Sina Finance revealed that Nokia had applied for a new patent focusing on digital asset encryption.
According to reports, the patent application was filed on June 20, 2024 and published as CN119155674.
The report states that the technology uses a key to encrypt assets, creating a version of secure data. It is assigned a network index and then linked to a specific entity using an identifier.
Nokia had not yet responded to any comments received by press time.
Pivot rumors
This move, according to market observers, signals the expansion of the giant mobile company beyond its legacy in telecommunications.
Nokia, although it has lost its leadership in the smartphone sector due to the rise of smartphones, remains an important global technology leader with a patent portfolio that spans diverse fields such as mobile communications, IoT (Internet of Things), and digital asset security.
Nokia has revealed its plans for future networks architectures, tailored towards innovation-driven industries. These include blockchain, intelligent contracts, AI, and Internet of Value. Nokia expects that demand for these services will grow between 22% and 25% by 2030.
Please note:
“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 demonstrated in October how their 5G powered digital factory twins connect the real and virtual worlds. The company showed off how the real-time information from thousands sensors enabled immediate optimization and preventative maintenance of production lines.
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Oluwapelumi Adejumo
Oluwapelumi believes in the potential of Bitcoin. He gives insights into a variety of topics, including DeFi hacks, culture and mining, while highlighting its transformative potential.
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