Will Nokia launch a Web3 phone? Apply for a digital asset encryption patent and be optimistic about the development of blockchain
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According to information from the China National Intellectual Property Administration, Nokia Technologies Limited recently applied for a patent titled "Device, Method and Computer Program", with publication number CN 119155674 A, with an application date of June 2024.
The abstract shows that the patent provides a device, method and computer program for use on a user device: using a first key to encrypt a digital asset to form an encrypted digital asset; providing the encrypted digital asset and an index for the encrypted digital asset to a first network function; and providing an identifier of the encrypted digital asset to a first entity.
The core of this patent is to provide a brand-new method and device for encrypting digital assets, aiming to enhance the security of digital assets and help users better protect personal and business information in the digital economy. The publication of this patent has sparked speculation that Nokia may be entering the Web3 mobile phone field.
The innovation of this patent lies in its multi-layer encryption mechanism, which can provide users with higher protection when using and storing digital assets. In recent years, data security issues have become increasingly prominent, and more and more enterprises and individuals are facing the risks of privacy leakage and asset theft. Nokia's new patent may provide a potential solution for users.
Nokia was once the global leader in the mobile phone market, with its sturdy and durable design and simple and easy-to-use features, making Nokia phones popular worldwide. However, with the rise of the smartphone wave and the change in market demand, Nokia failed to transform in time and has gradually lost its market dominance in recent years.
Nowadays, Nokia's presence in the mobile phone market has significantly weakened, but 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 mobile phone, it may have the opportunity to regain market attention through innovative technology.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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