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**Nokia files patent for secret encryption tool**
The Finnish telecommunications giant Nokia has taken a significant step in the world of cybersecurity by filing a patent for a new, top-secret encryption tool. The company’s latest innovation aims to provide unparalleled data security and confidentiality for its customers.
As part of its efforts to support the rapidly growing demand for secure online transactions, Nokia has developed an innovative solution that utilizes blockchain technology. This technology allows for safe and transparent data exchanges, enabling businesses and individuals alike to protect their sensitive information from cyber threats.
The company’s recent investment in its own data marketplace, Nokia Data Marketplace, underscores its commitment to ensuring the security and integrity of all digital interactions. By providing secure data transactions and analytics capabilities, Nokia is poised to revolutionize the way we interact online.
This latest development comes as no surprise, given the telecommunications giant’s long history of innovation in the field of cybersecurity. In 2023, Nokia successfully connected microbreweries using 5G technology, enabling German and Australian researchers to develop augmented reality (AR) applications for brewery innovation.
The company’s focus on network infrastructure development is also noteworthy, as it aims to meet the rapidly growing demand for data transmission by 2030, which is expected to increase by 22-25%. By supporting emerging markets and innovations, Nokia is adapting to the changing landscape of telecommunications.
Interestingly, the company has been observing a global trend among telecommunications providers shifting towards blockchain technology. Taiwan Mobile, the country’s second-largest telecommunications provider, recently obtained a Virtual Asset Service Provider (VASP) license in July 2024, enabling it to operate digital asset exchanges. Similarly, South Korea’s SK Telecom is preparing to launch its own cryptocurrency market.
Nokia’s Web3 business team aims to support the growth of South Korea’s cryptocurrency market and contribute to the global development of blockchain-based technologies.
**Source:** Nokiabazis.hu
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