Nokia patents new method for digital asset security technology in China
Nokia patents digital asset encryption technology
Finnish telecommunications giant Nokia Technologies, which dominated the mobile communications market in the early 2000s, is making a move into the rapidly growing field of digital assets.
According to crypto.news, Nokia has filed a patent application with China’s National Intellectual Property Administration under the title "Method, Device, and Computer Program for Enhancing Digital Asset Encryption" (CN 119155674 A).
The patent abstract outlines a system that allows user devices to securely encrypt digital assets using a "primary key," which ensures the security of assets during encryption.
Encryption, the process of converting data or information into a code to prevent unauthorized access, ensures that only authorized individuals can access and manage digital assets, such as Bitcoin and other cryptocurrencies.
A New chapter in Nokia’s development?
Technologies in this field are crucial for advancing blockchain and cryptocurrency systems. Securing a patent guarantees the viability of Nokia’s proposed method for tracking and verifying digital assets during transactions.
Although Nokia has lost its dominance in mass mobile phone production, the company has a long history in network technologies and telecommunications and remains a leading global tech company.
Nokia’s portfolio includes hundreds of patents related to mobile communications, 5G, the Internet of Things (IoT), and now digital asset encryption, marking an intriguing shift for the Finnish multinational giant.
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