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Toronto, Canada, fifteenth February, 2023, Chainwire
Right this moment China Telecom and Conflux Community announce a partnership to deliver Blockchain SIM playing cards (BSIM) to market. The entry-level Web3 product would be the largest blockchain {hardware} product ever seen globally, involving essentially the most customers and functions. China Telecom will launch the primary BSIM pilot program in Hong Kong later this yr. This can seemingly be adopted by pilots in key mainland China places similar to 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 cell phones safer.
The BSIM card integrates Conflux’s Tree-graph, twin proof of stake and proof of labor know-how, enabling the best system efficiency for any blockchain on this planet. It makes use of the {hardware} safety benefits of SIM playing cards to guard customers’ personal keys, which is a safe and handy Web3 entry resolution.
The BSIM Card is indistinguishable from a standard SIM in look however the cupboard space is 10-20 occasions bigger than the normal SIM card, and the computing energy is elevated by tens of occasions. Customers who change to a BSIM card will be capable to 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 person’s private and non-private keys within the card, and perform digital signatures in a method that the personal key doesn’t exit the cardboard. The BSIM card also can enable encrypted storage, key retrieval and different operations. The built-in Bluetooth module will likely be accountable for the signature and switch of property, to make sure the safety of non-public digital property. This reduces the chance of the person being attacked by viruses and different malicious software program on the cell phone.
Customers’ identifiers within the conventional world, similar to cell phone numbers, may be tied to their Decentralized Identifiers (DID). This can enable for higher integration and interplay between digital and real-world info. BSIM playing cards may also be mixed with summary accounts primarily based on sensible contracts, enabling blockchain functions to soundly and effectively use customers’ crypto and conventional world info. Connecting DID with mobile phone numbers may additionally alleviate a few of 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 part of BSIM card is now full, and it has efficiently related with Conflux’s major community within the take a look at atmosphere. This prototype has the storage and sending features of digital property. Conflux and China Telecom will now deal with 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 person expertise and lowers the limitations 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 powerful associate like China Telecom and initiating it from Hong Kong will enable 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 id lies within the core of future Web3.0, whereas blockchain-based digital property are an essential catalyst for the Metaverse. The BSIM card is positioned as the doorway infrastructure of the Metaverse, which gives differentiated features similar to telecom {hardware} safety, clever digital pockets, in addition to DID value-added providers. 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 gives a quick, safe, and scalable blockchain atmosphere with zero congestion, low charges, and improved community safety.
As the one regulatory-compliant public blockchain in China, Conflux gives a singular benefit for tasks 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.
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