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Friday, March 31, 2023
HomeMarket UpdatesChina Telecom and Conflux Community to pilot Blockchain enabled SIM card in...

China Telecom and Conflux Community to pilot Blockchain enabled SIM card in Hong Kong


Toronto, Canada, fifteenth February, 2023, Chainwire

At the moment China Telecom and Conflux Community announce a partnership to carry Blockchain SIM playing cards (BSIM) to market. The entry-level Web3 product would be the largest blockchain {hardware} product ever seen globally, involving probably the most customers and functions. China Telecom will launch the primary BSIM pilot program in Hong Kong later this yr. It will probably be adopted by pilots in key mainland China areas resembling Shanghai.

BSIM will dramatically decrease the barrier to entry to Web3 for China Telecom’s 390+ million cell phone subscribers, whereas making transactions quicker and safer. By making telecom customers’ private digital property safer, the objective is to make cellphones safer.

The BSIM card integrates Conflux’s Tree-graph, twin proof of stake and proof of labor know-how, enabling the very best system efficiency for any blockchain on this planet. It makes use of the {hardware} safety benefits of SIM playing cards to guard customers’ non-public keys, which is a safe and handy Web3 entry answer.

The BSIM Card is indistinguishable from a standard SIM in look however the space for storing is 10-20 occasions bigger than the normal SIM card, and the computing energy is elevated by tens of occasions.  Customers who swap to a BSIM card will be capable of retailer digital property safely, switch their digital property conveniently, and show their property in quite a lot of functions.

The BSIM card will handle and retailer the consumer’s private and non-private keys within the card, and perform digital signatures in a means that the non-public key doesn’t exit the cardboard. The BSIM card may also permit encrypted storage, key retrieval and different operations. The built-in Bluetooth module can be accountable for the signature and switch of property, to make sure the safety of private digital property. This reduces the danger of the consumer being attacked by viruses and different malicious software program on the cell phone.

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Customers’ identifiers within the conventional world, resembling cell phone numbers, could be tied to their Decentralized Identifiers (DID). It will permit for higher integration and interplay between digital and real-world data. BSIM playing cards can be mixed with summary accounts primarily based on sensible contracts, enabling blockchain functions to securely and effectively use customers’ crypto and conventional world data. Connecting DID with cellular phone numbers may alleviate among the regulatory considerations stemming from the anonymity of the blockchain know-how.

The preliminary settlement was signed in 2022 between Conflux Community and China Telecom and this prototype is the end result of a strategic year-long engagement with the objective to construct {hardware} merchandise on the entrance to the world’s metaverse.

The analysis and improvement section of BSIM card is now full, and it has efficiently related with Conflux’s foremost community within the take a look at surroundings. This prototype has the storage and sending capabilities of digital property. Conflux and China Telecom will now concentrate on enriching the BSIM card’s ecological functions, with emphasis on video games, funds and different fields.

Dr. Ming Wu, CTO of Conflux Community stated “The BSIM card considerably improves the consumer expertise and lowers the boundaries to entry for Web3 and the Metaverse world for customers. It’s key to permitting Conflux to take its ecosystem to the subsequent stage. Collaborating with such a robust accomplice like China Telecom and initiating it from Hong Kong will permit us to enter the market within the close to future, each in China and globally.”

Dr. Liang Wei, Deputy Director of Huge Information and Synthetic Intelligence Analysis Institute, China Academy of Telecommunication Analysis stated “Blockchain-based digital identification lies within the core of future Web3.0, whereas blockchain-based digital property are an necessary catalyst for the Metaverse. The BSIM card is positioned as the doorway infrastructure of the Metaverse, which supplies differentiated capabilities resembling telecom {hardware} safety, clever digital pockets, in addition to DID value-added companies. Partnership with Conflux will speed up the method of connecting Web2.0 and Web3.0 customers on this most imaginative house.”

About Conflux Community

Conflux is a permissionless Layer 1 blockchain connecting decentralized economies throughout borders and protocols. Just lately migrated to hybrid PoW/PoS consensus, Conflux supplies a quick, safe, and scalable blockchain surroundings with zero congestion, low charges, and improved community safety.

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As the one regulatory-compliant public blockchain in China, Conflux supplies a singular benefit for initiatives constructing and increasing into Asia. Within the area, Conflux has collaborated with world manufacturers and authorities entities on blockchain and metaverse initiatives, together with town of Shanghai, McDonald’s China, and Oreo.

To study extra about Conflux, go to confluxnetwork.org or China Telecom go to http://www.chinatelecom.com.cn/

Dr. Ming Wu, CTO of Conflux Community and Dr. Liang Wei, Deputy Director of Huge Information and Synthetic Intelligence Analysis Institute, China Academy of Telecommunication Analysis can be found for interview.

Contact

Melissa, [email protected]

BitcoinMasterNews

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