Nokia, the Finnish telecom giant, appears to be venturing into the digital asset encryption space.

On December 23, the China National Intellectual Property Administration (CNIPA) disclosed a patent application from Nokia Technologies for a “device, system, and software” designed to encrypt digital assets.

The patent describes a technology that includes a component dedicated to securing digital assets through encryption. It also mentions the use of digital asset indexes, which the system leverages in its primary network function to facilitate encryption.

Though the precise scope of the technology remains ambiguous, this move signals Nokia's intent to innovate within the digital asset security domain, as the company’s efforts may include the development of a hardware device capable of performing these encryption task.

Nokia’s History with Blockchain: Streamr and OSIsoft

Nokia’s interest in decentralized technologies is not new. In 2018, the company partnered with "Streamr" and "OSIsoft" to explore blockchain-powered data monetization. This initiative allowed users to securely share and profit from their personal data, showcasing Nokia’s early understanding of blockchain’s potential.

Building on this foundation, Nokia launched its Data Marketplace in 2021, a platform that leverages blockchain to facilitate secure data sharing for enterprises. This solution aimed to provide businesses with reliable tools for managing data exchanges while addressing growing concerns over data security and privacy.

Nokia and du Collaborate to Advance 5G Private Networks

In parallel with its blockchain-related initiatives, Nokia is driving innovation in telecommunications. By partnering with the UAE-based telecom operator du, Nokia aims to accelerate digital transformation through 5G private networks. This collaboration seeks to empower businesses with secure, high-speed connectivity, enabling advancements in seamless automation and generative AI applications.