Nokia Technologies has filed a groundbreaking patent aimed at enhancing the security of digital assets through advanced encryption methods. The patent, titled "Device method and computer program," was submitted to China's National Intellectual Property Administration in June 2024 and received publication number CN 119155674 A in December.
The newly patented system introduces a novel approach to securing cryptocurrencies and other digital assets using a "first key" encryption mechanism. This technology enables user devices to encrypt digital assets securely, protecting them from unauthorized access and potential theft.
At the core of Nokia's innovation is a sophisticated process that combines encryption with asset tracking capabilities. After the initial encryption phase, the system employs a "first network function" that processes the encrypted assets and maintains an index to monitor the entire encryption workflow. This creates a transparent and traceable path for digital asset management across networks.
The patent also includes a robust identification system that validates encrypted assets through authorized entities. This additional layer of security helps prevent fraud and ensures that only legitimate transactions are processed through the network.
Nokia's entry into digital asset security comes at a time when cryptocurrency protection is becoming increasingly critical. Without proper encryption, digital assets remain vulnerable to cyber threats and unauthorized access. The company's extensive experience in telecommunications and networking positions it well to address these security challenges. The rising popularity of cryptocurrency trading has sparked an important discussion about online security and privacy.
This latest addition to Nokia's extensive patent portfolio, which spans telecommunications, 5G networks, and IoT technologies, demonstrates the company's commitment to advancing digital security solutions. The patent represents a step forward in making digital asset transactions more secure and reliable for users worldwide.