Nokia has patented a new encryption technology aimed at enhancing the security of digital assets, addressing significant vulnerabilities that led to $2.2 billion in losses in 2024. This innovative system encrypts assets like Bitcoin and Ethereum, making them nearly inaccessible without the private key, and supports encrypted transactions post-confirmation. As part of its shift from mobile phones to emerging technologies, Nokia's efforts in blockchain and 5G could reshape secure data management in a rapidly evolving market.
Nokia has filed a patent for a device and program aimed at encrypting digital assets, as revealed by the China National Intellectual Property Administration. This development suggests the company is exploring encryption technologies, potentially enhancing its blockchain initiatives, which include a data marketplace and a 5G-connected microbrewery project. Meanwhile, Taiwan Mobile has secured a virtual asset service provider license, enabling it to establish a digital asset exchange.
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