Finnish telecom equipment giant Nokia has recently applied for a new patent with the China National Intellectual Property Administration, which centers around providing a brand-new method and device for encrypting digital assets to enhance their security, sparking speculation about Nokia potentially entering the Web3 mobile phone market. (Background: AI phones struggling to sell? Samsung lays off thousands globally, Apple iPhone 16 sales fall short of expectations) (Additional background: Verified by Dong District) Did Vitalik get the Solana Saga phone? The truth is that it's the strongest AI phone designed in Taiwan. According to information from the China National Intellectual Property Administration, Nokia Technologies has recently applied for a patent titled "Device, Method, and Computer Program," with publication number CN 119155674 A, and the application date is June 2024. The abstract shows that the patent provides a device for executing the following methods and computer programs on user devices: encrypting digital assets using a first key to form encrypted digital assets; providing the encrypted digital assets and an index for the encrypted digital assets to a first network function; and providing an identifier of the encrypted digital assets to a first entity. The core of this patent lies in providing a brand-new method and device for encrypting digital assets, aimed at enhancing the security of digital assets and helping users better protect personal and business information in the digital economy. The publication of this patent has sparked speculation about Nokia potentially entering the Web3 mobile phone market. The innovation of this patent is its multi-layer encryption mechanism, which, when implemented, allows users to enjoy higher protection when using and storing digital assets. In recent years, data security issues have received increasing attention, and more and more enterprises and individuals face the risks of privacy leakage and asset theft. Nokia's new patent may provide potential solutions for users. Nokia was once the leader in the global mobile phone market. Nokia phones, with their sturdy design and simple functionality, once swept the world. However, with the rise of the smartphone wave and changes in market demand, Nokia failed to transform in time and has gradually lost its market dominance in recent years. Today, Nokia's presence in the mobile phone market has significantly weakened. However, Nokia has continued to make important progress in the field of communication technology in recent years. With the rapid development of Web3 and blockchain technology, if Nokia launches a Web3 phone, it is expected to attract market attention again through innovative technology. Nokia focuses on the blockchain field. Notably, Nokia has made strides in the blockchain field in recent years. In the first half of this year, Nokia released a (2030 Technology Strategy Report), predicting that the future development of the metaverse, Web3, and artificial intelligence will lead to a surge in network demand and plans to fill this gap by 2030. The report focuses on building future network architectures to serve emerging innovative markets, predicting that network demand will grow by 22% to 25%. Therefore, Nokia plans to invest heavily in network equipment and services, and also intends to focus on value network ecosystems, including decentralization, blockchain, and smart contracts, and plans to pay attention to human enhancement, spatial computing, and distributed processing in the metaverse field. Nokia also launched a blockchain-based Nokia Data Marketplace in May this year, which provides information trading and analysis functions. This service allows its partners from various industries to collaborate through private chains, utilizing AI and automation mechanisms in real time to cope with the rapidly growing volume of data while ensuring secure and reliable access to the data for effective business decision-making. Related reports include the debut of Solana's new phone Seeker, which can also be bought and profited from through airdrops? The second-generation Solana phone is officially named “Seeker”: pre-orders have exceeded 140,000 units, shipments expected by mid-next year, is there still time to ambush airdrops? Huawei's first "foldable phone Mate XT" pre-orders exceed 4 million units; how did it steal the limelight from iPhone 16? "Is Nokia going to launch a Web3 phone? Applying for a digital asset encryption patent, optimistic about blockchain development" was first published on Dong District BlockTempo (the most influential blockchain news media).