cryptojournalist
Patent Application Overview
Nokia has filed a patent for a “device, method, and computer program” designed to encrypt digital assets. The application, disclosed on Dec. 23 by the China National Intellectual Property Administration (CNIPA), suggests the Finnish telecom giant is exploring digital asset encryption.
The patent describes a device and program capable of encrypting digital assets using indexed data. While the details remain vague, it indicates Nokia’s potential development of an encryption-focused device.
Nokia’s Blockchain and Metaverse Projects
Nokia has been steadily advancing in blockchain and metaverse technologies:
Nokia Data Marketplace (2021): A blockchain-based platform for secure data transactions and analysis, utilizing permissioned blockchain technology.*
5G and Metaverse Integration (2023): The company collaborated on a 5G-powered microbrewery project. Researchers in Australia and Germany used augmented reality (AR) to simulate and refine beer brewing processes in a digital environment.
Nokia is also preparing for increased network demand, anticipating a 22%-25% growth by 2030. The company plans to expand its network equipment and services portfolio to support emerging innovations.
Taiwan Mobile’s Crypto Venture
In related news, Taiwan Mobile, the country’s second-largest telecom operator, obtained a Virtual Asset Service Provider (VASP) license in July 2023. This license enables the company to establish a digital asset exchange, marking a significant step into the crypto market
*Permissioned blockchains: Private networks that limit participation to authorized users, balancing security and decentralization.
