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Toronto, Canada, fifteenth February, 2023, Chainwire
As we speak 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 essentially the most customers and purposes. China Telecom will launch the primary BSIM pilot program in Hong Kong later this 12 months. This may probably be adopted by pilots in key mainland China places akin to Shanghai.
BSIM will dramatically decrease the barrier to entry to Web3 for China Telecom’s 390+ million cell phone subscribers, whereas making transactions sooner 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 expertise, enabling the very best system efficiency for any blockchain on the earth. 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 answer.
The BSIM Card is indistinguishable from a conventional SIM in look however the cupboard space is 10-20 occasions bigger than the standard SIM card, and the computing energy is elevated by tens of occasions. Customers who swap to a BSIM card will have the ability to retailer digital property safely, switch their digital property conveniently, and show their property in a wide range of purposes.
The BSIM card will handle and retailer the person’s private and non-private keys within the card, and perform digital signatures in a manner that the personal key doesn’t exit the cardboard. The BSIM card may permit encrypted storage, key retrieval and different operations. The built-in Bluetooth module shall be liable for the signature and switch of property, to make sure the safety of non-public digital property. This reduces the danger of the person being attacked by viruses and different malicious software program on the cell phone.
Customers’ identifiers within the conventional world, akin to cell phone numbers, will be tied to their Decentralized Identifiers (DID). This may permit for higher integration and interplay between digital and real-world info. BSIM playing cards can be mixed with summary accounts based mostly on sensible contracts, enabling blockchain purposes to securely and effectively use customers’ crypto and conventional world info. Connecting DID with cellphone numbers can also alleviate a few of the regulatory considerations stemming from the anonymity of the blockchain expertise.
The preliminary settlement was signed in 2022 between Conflux Community and China Telecom and this prototype is the fruits 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 foremost community within the check 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 purposes, with emphasis on video games, funds and different fields.
Dr. Ming Wu, CTO of Conflux Community mentioned “The BSIM card considerably improves the person expertise and lowers the obstacles to entry for Web3 and the Metaverse world for customers. It’s key to permitting Conflux to take its ecosystem to the following degree. Collaborating with such a powerful companion 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 Massive Information and Synthetic Intelligence Analysis Institute, China Academy of Telecommunication Analysis mentioned “Blockchain-based digital identification 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 offers differentiated capabilities akin 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. Not too long ago migrated to hybrid PoW/PoS consensus, Conflux offers a quick, safe, and scalable blockchain surroundings with zero congestion, low charges, and improved community safety.
As the one regulatory-compliant public blockchain in China, Conflux offers 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 be taught 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 Massive Information and Synthetic Intelligence Analysis Institute, China Academy of Telecommunication Analysis can be found for interview.
Contact
Melissa, [email protected]