Nokia Technologies has filed a patent application related to digital asset encryption in China, indicating ambitions to expand into this emerging technology market.
Finnish telecommunications group Nokia is showing an increasing interest in the field of digital asset encryption. On December 23, the National Intellectual Property Administration of China (CNIPA) announced Nokia Technologies' patent application related to 'devices, methods, and computer programs' that allow digital asset encryption. This move signals that Nokia may be developing specialized equipment and software to support this function, opening new directions for the group alongside its traditional network equipment business.
According to the description in the application, Nokia's patent includes equipment and software integrating components that support digital asset encryption. The use of digital asset indexing is clearly stated as one of the core functions of the program. Although technical details have not yet been fully disclosed, Nokia's patent application clearly shows the group's ambition to engage in the rapidly growing digital asset encryption market.
Translation of CN 119155674 A from Nokia Technologies. Source: CNIPA
This is not the first time Nokia has shown interest in new technologies. In 2021, the group launched Nokia Data Marketplace, a data infrastructure platform for enterprises using licensed blockchain technology. This platform enables transactions and data analysis on a distributed ledger system with tightly controlled access layers. This indicates that Nokia has certain experience in applying blockchain technology, a foundational technology for many types of digital assets.
In addition, Nokia has also been actively testing applications of metaverse technology. In 2023, the group launched a 5G-connected microbrewery project using metaverse technology, incorporating augmented reality (AR) to assist researchers in Australia and Germany in collaborating on simulated brewing process experiments. The project demonstrates that Nokia is exploring the potential of advanced technologies, including the metaverse, to optimize production processes and remote collaboration.
In the context of network demand forecasted to increase from 22% to 25% by 2030, Nokia has announced plans to build a new network architecture to serve the innovative market. The group expects to invest heavily in its portfolio of network equipment and services in the coming years.