Nokia Launches Blockchain Product. Market May Be Surprised. Patent Followers Are Not.

Nokia doesn’t quite have a reputation for being on the cutting edge of technology. In terms of consumer electronics, it is perhaps best known for its indestructible cell phones from the early 2000s. However, the company is still an important player in telecommunications andlicenses patents to most major smartphone manufacturers, including Apple and Samsung. Now, Nokia is launching a blockchain platform for data exchange and monetization, which has many potential uses in the era of big data harvesting. This isn’t a surprise to us at Patent Forecast®, where we know that Nokia has been investing in cryptocurrency and blockchain patents, specifically for distributed systems, since 2014. In fact, the company filed many of its applications a bit ahead of the boom in cryptocurrency patenting from late 2019 through 2020.

Nokia has taken full advantage of its patent assets with licensing deals across many industries, and Patent Forecast® predicts that blockchain will likely be no exception. You can keep track of Nokia and other companies on theCryptocurrency Patent Forecast®.