Nokia, the global leader in mobile technology, is making significant progress in the field of blockchain and cryptocurrencies with its latest patent filing. The company filed a patent titled “Device Method and Computer Program,” signaling its intent to improve the security of digital assets in the blockchain ecosystem. This is Nokia’s inaugural venture into blockchain security, as revealed by the China National Intellectual Property Administration.
The patent focuses on creating a system designed to secure digital assets through advanced encryption methods. The proposed innovation ensures that only authorized parties can decrypt and access encrypted assets. It also incorporates a “network first function” to safeguard assets, while an index is provided to monitor and manage the encryption process. By introducing this system, Nokia aims to address growing concerns regarding the security, efficiency and reliability of blockchain systems.
NOKIA, THE POWER OF TELECOMMUNICATIONS, ENTERS THE FIELD OF BLOCKCHAIN SECURITY
– Leading mobile technology provider Nokia has filed a patent titled “Device Method and Computer Program” to improve encryption of digital assets in the blockchain industry.
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– The patent, recently… pic.twitter.com/gHeCnpYcwp
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A history of blockchain innovation
Nokia’s involvement in blockchain technology is not entirely new. In 2018, the company partnered with Streamr and OSIsoft to develop a blockchain-based solution for users to securely monetize their mobile data. This initiative demonstrated Nokia’s early interest in decentralized systems, with a focus on transparency and user empowerment.
Building on this foundation, Nokia launched Nokia Data Marketplace in 2021, a blockchain-based service offering enterprise-grade data infrastructure solutions. This platform highlights the company’s commitment to leveraging blockchain for secure and efficient data sharing.
Nokia’s efforts extend beyond blockchain, encompassing innovations in Metaverse, Web3 and artificial intelligence (AI). The company continues to design cutting-edge network architectures to seamlessly integrate these emerging technologies, establishing itself as a leader in digital transformation.
Expand your global footprint
Nokia has also taken strategic steps to expand its presence in the blockchain and crypto sectors. Recently, it obtained a Virtual Asset Service Provider (VASP) license from the Taiwan Financial Supervisory Commission. This regulatory approval allowed the company to establish a digital asset exchange in the region, strengthening its focus on digital asset management and security.
These advancements reflect Nokia’s proactive approach to shaping the future of blockchain technology. By addressing critical challenges such as transaction security and data storage, the company is positioning itself to play a central role in the evolution of the digital economy.
Joining the ranks of global innovators
Nokia’s foray into blockchain parallels the efforts of other global technology leaders. For example, Amazon entered the blockchain arena in 2019 with its Amazon Managed Blockchain (AMB) service. This platform simplifies the creation and management of blockchain networks, offering support for frameworks like Ethereum and Hyperledger Fabric. Amazon’s initiative highlights the growing importance of blockchain in improving data security, transparency and operational efficiency across all industries.
Nokia’s patent filing marks a bold step in its legacy of innovation, underscoring its commitment to digital security and decentralized technology. By adopting blockchain, the company is not only watching the industry grow, but actively working to shape its future. These efforts reinforce Nokia’s role as a pioneer in driving advancements that address critical needs in an evolving digital landscape.
