Nokia’s latest encryption patent is a major step in protecting digital assets. On December 23, 2024, Nokia submitted the patent application titled “Device method and computer program.” The National Intellectual Property Administration registered it under publication number CN 119155674 A, and it aims to improve encryption techniques for digital assets.
This move highlights Nokia’s focus on the blockchain and cryptocurrency sectors, which increasingly rely on robust encryption to secure assets. Nokia’s proposed technology introduces a system that employs a “first key” to encrypt digital assets.
This key could be part of either symmetric or asymmetric encryption. In symmetric encryption, the same key is used for both encryption and decryption. In contrast, asymmetric encryption uses a pair of keys: one for encryption and another for decryption.
Key Features of Nokia’s Encryption Patent
- Encryption with the First Key
- The system uses a “first key” to encrypt digital assets.
- This ensures only authorized users can access and manage the assets.
- Index Monitoring
- An index monitors the encryption process.
- This ensures transparency and proper tracking during encryption.
- Network Functions
- A “first network function” handles encrypted assets.
- It acts as a trusted node, performing tasks like verification and processing.
- Identification Mechanism
- Encrypted assets are linked to a unique identification.
- This mechanism helps trace assets and ensures only authorized parties validate or authorize them.
- Secure and Traceable Transfers
- Assets can be securely managed and transferred across networks.
- The system ensures transactions are validated and authorized before execution.
Cryptocurrency and other digital assets are best protected by encryption. To stop unwanted access, it transforms data into a secure code. To guarantee that only the wallet owner can access and handle their funds, Bitcoin, for example, uses private key encryption. Digital assets are susceptible to hacking and theft in the absence of encryption.
Nokia’s technology adds another layer of security by incorporating a process to trace and validate encrypted assets. This ensures digital assets remain secure from creation to transaction. The identification mechanism acts as an added safeguard, making assets traceable and verifiable.
Nokia’s Legacy in Innovation
Nokia has a long history of technological advancements. The company’s patent portfolio spans various fields, including:
Field | Focus Area |
Digital Asset Encryption | Securing cryptocurrencies and blockchain assets |
5G Networks | High-speed, reliable communications |
Mobile Communications | Pioneering cellular technology |
Internet of Things (IoT) | Connecting devices for smart solutions |
This patent represents one more step in the innovation journey of Nokia. It sets Nokia as a leader within the digital asset space, utilizing its networking and telecommunications prowess. There is an increasing demand for the secure and efficient management of digital assets.
The need for secure and efficient management of digital assets continues to grow. Nokia’s encryption system aims to address this demand by ensuring assets are not only secure but also traceable and verifiable. This technology could significantly impact how digital assets are managed and safeguarded in the future.
