Nokia files Chinese patent for digital asset encryption device [Video]

Nokia (NASDAQ: NOK) has filed a patent application in China for a device that encrypts and indexes digital assets in the latest push by a telecoms operator into the blockchain world.

The China National Intellectual Property Administration (CNIPA) confirmed that the Finnish telecoms and consumer electronics giant had filed the patent for a “device, method, and computer program” that encrypts digital assets.

A translated version of the patent revealed that the patent describes a method for “encrypting a digital asset with the first key,” “providing the encrypted digital asset and an index for the encrypted digital assets to the first network function” and “provide the first entity with the identity of the digital asset of said encryption.”

Nokia’s system will rely on symmetric and asymmetric encryption—the former uses a single key for encryption and decryption, while the latter relies on a public and private key combination for enhanced security.

The Helsinki-based firm is a pioneer in mobile telephony and, …