Nokia has reportedly filed a patent application focused on digital asset encryption, local Chinese media outlet Sina Finance reported on December 23.
The patent would have been filed in June 2024 and the application would have been published under CN119155674.
According to the report, the technology encrypts assets using an initial key that creates a secure version of the data. This encrypted asset is then assigned a network functionality index and is linked to an entity via an identifier.
Nokia has not yet responded to requests for comment at the time of publication.
Pivotal rumors
Market observers pointed out that the move signals that the mobile giant is expanding beyond its strong legacy of telecommunications and networking technologies to expand into the emerging sector.
Despite losing its lead in the mobile industry following the advent of smartphones, Nokia remains a leading global technology company with an extensive patent portfolio covering diverse areas such as 5G, mobile communications, IoT and encryption of digital assets.
Earlier this year, Nokia revealed plans to develop future network architectures suited to innovation-driven industries, including blockchain, smart contracts, artificial intelligence and the Internet of Value. The company expects demand in these areas to increase by 22-25% by 2030.
He noted:
“Advancements in semiconductors, software, artificial intelligence and machine learning, metaverse technologies, Web3 and cloud technologies will continue to accelerate. These technologies will dramatically expand the scope of what is possible, connecting and merging the human, physical and digital worlds to help solve some of the biggest global challenges we face.
In October, Nokia showed how its 5G-powered digital twin factories connect the physical and virtual worlds. The company highlighted how real-time data from thousands of sensors enabled instant optimization and predictive maintenance of production lines.
