Conflux Network to Build Blockchain-Based SIM Cards in Partnership With China Telecom
China Telecom will launch the first BSIM pilot program in Hong Kong later this year, Conflux Network said.
Feb 15, 2023 at 12:04 p.m. UTCUpdated Feb 15, 2023 at 4:09 p.m. UTC
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Blockchain protocol Conflux Network will build blockchain-based SIM cards in partnership with China Telecom, the second-largest wireless carrier in China with an estimated 390 million subscribers, as per a Wednesday tweet.
- China Telecom will launch the first BSIM pilot program in Hong Kong later this year, Conflux Network said. This will likely be followed by pilots in key mainland China locations such as Shanghai.
- The BSIM card will manage and store the user's public and private keys in the card and carry out digital signatures in a way that the private key does not exit the card. The BSIM card can also allow encrypted storage and key retrieval.
- Users who switch to a BSIM card will be able to store digital assets safely, transfer their digital assets conveniently, and display their assets in a variety of applications, Conflux said.
- Conflux is a speedy and cheap blockchain that claims to be the only regulatory-compliant public blockchain in China. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald's China, and Oreos.
- Conflux's native CFX tokens surged over 20% following reports of the China Telecom partnership.
(This is a developing story.)
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Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.