The potential of blockchain in terms of applications is constantly expanding. This technology, whose development is in progress, tends to penetrate many economic sectors. Increasingly, companies, especially those operating in strategic areas such as mobile telephony, no longer hesitate to make it the spearhead of their growth policy.
A tailor-made electronic chip
In China, the blockchain will take a significant step in its expansion. Blockchain company Conflux Network, which enjoys the support of the Chinese government, announced on February 15 that this technology will indeed be at the heart of its project to create a blockchain SIM card (BSIM).
She said that this program will be implemented in partnership with the telecommunications group China Telecom. It is the second largest mobile phone operator in China. In concreto, it is for the two partners to make available to the approximately 390 million users of China Telecom, SIM cards that take into account crypto operations.
The future blockchain SIM card should allow them to have a secure platform, through which they can transfer money quickly. This, by favoring the verification, in real time, of the operations and their state of progress.
The tool will also offer users a dedicated storage space, 10 to 20 times greater than that of conventional SIM cards. Through it, they will have the possibility, for example, to transfer and exchange NFTs. This, by storing the digital private keys relating to their assets.
BSIM, a revolution for mobile telephony in China?
If this project materializes, it will undoubtedly be a major breakthrough for the global mobile phone industry, but also that of cryptos.
“We are at the end of the research and development phase for the BSIM board. It is connected to the main Conflux network and is being tested. This prototype has storage and sending functions for digital assets,” indicate the two parties in a joint press release.
According to them, BSIM’s first pilot program is expected to go live in Hong Kong later this year. A larger scale launch should come a little later.
This project will likely be one of the major blockchain breakthroughs of 2023. Does it mark a new milestone in blockchain adoption? We can believe it, given the economic influences of China and the strategic role of mobile telephony for States.
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