Nokia has reportedly filed for a patent aimed at encrypting digital assets, reports local Chinese media outlet Sina Finance reported on December 23.
The patent was reportedly filed in June 2024 and the application was published under CN119155674.
According to the report, the technology encrypts assets using an initial key that creates a secure data version. This encrypted asset is then assigned a network functionality index and linked to an entity via an identifier.
Nokia has not responded to requests for comment at the time of writing.
Spin rumors
Market observers have pointed out that the move is a signal that the mobile giant is extending its robust legacy in telecommunications and networking technology to the emerging sector.
Despite losing its leading position in the mobile phone sector following the rise of smartphones, Nokia remains a leading global technology company with an extensive patent portfolio spanning areas such as 5G, mobile communications, IoT and digital asset encryption.
Earlier this year, Nokia announced plans to develop future network architectures tailored to innovation-driven industries, including blockchain, smart contracts, artificial intelligence and the Internet of Value. The company expects demand in these areas to grow 22% to 25% by 2030.
It was noted:
“Advances in semiconductors, software, artificial intelligence and machine learning, metaverse technologies, Web3 and cloud technologies will continue to accelerate. These technologies will significantly 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 on display how the 5G-powered digital factory twin bridges the physical and virtual worlds. The company highlighted how real-time data from thousands of sensors enabled instant optimization and predictive maintenance for production lines.
