China Telecom and Conflux Network to pilot Blockchain-enabled SIM card in Hong Kong
Chain wire
China Telecom and Conflux Network to pilot Blockchain-enabled SIM card in Hong Kong
15 February 2023 / 11:56 GMT/BST
Toronto, Canada, 15 February 2023Chainwire
Today China Telecom and Conflux Network announce a partnership to bring Blockchain SIM cards (BSIM) to market. The entry-level Web3 product will be the largest blockchain hardware product ever seen globally, involving the most users and applications. China Telecom will launch the first BSIM pilot program in Hong Kong later this year. This is likely to be followed by pilots in key locations in mainland China such as Shanghai.
BSIM will dramatically lower the entry barrier to Web3 for China Telecom’s 390+ million mobile phone subscribers, while making transactions faster and more secure. By making telecom users’ personal digital assets more secure, the goal is to make mobile phones more secure.
The BSIM card integrates Conflux’s Tree-graph, dual proof-of-stake and proof-of-work technology, enabling the highest system performance of any blockchain in the world. It uses the hardware security benefits of SIM cards to protect users’ private keys, which is a secure and convenient Web3 solution.
The BSIM card is indistinguishable from a traditional SIM card in appearance, but the storage space is 10-20 times larger than the traditional SIM card, and the data power is increased by tens of times. Users who switch to a BSIM card will be able to store digital assets securely, transfer digital assets easily and view assets in a variety of applications.
The BSIM card will manage and store the user’s public and private keys in the card, and perform digital signatures in a way that the private key does not leave the card. The BSIM card can also allow encrypted storage, key retrieval and other operations. The built-in Bluetooth module will be responsible for signature and transfer of assets, to ensure the security of personal digital assets. This reduces the risk of the user being attacked by viruses and other malicious software on the mobile phone.
Users’ identifiers in the traditional world, such as mobile phone numbers, can be linked to their Decentralized Identifiers (DIDs). This will provide better integration and interaction between virtual and real information. BSIM cards can also be combined with abstract accounts based on smart contracts, enabling blockchain applications to safely and efficiently use users’ crypto and traditional world information. Linking DIDs with mobile phone numbers could also alleviate some of the regulatory concerns stemming from the anonymity of blockchain technology.
The first agreement was signed in 2022 between Conflux Network and China Telecom, and this prototype is the culmination of a strategic year-long engagement aimed at building hardware products at the entrance of the world’s metaverse.
The research and development phase of the BSIM card is now complete and it has successfully connected to Conflux’s main network in the test environment. This prototype has the storage and transmission capabilities of digital assets. Conflux and China Telecom will now focus on enriching the BSIM card’s ecological applications, with an emphasis on games, payments and other fields.
Dr. Ming Wu, CTO of Conflux Network said “The BSIM card significantly improves the user experience and lowers the entry barriers to the Web3 and Metaverse world for users. It is the key to allow Conflux to take its ecosystem to the next level. Working with such a strong partner as China Telecom and initiating it from Hong Kong will allow us to enter the market in the near future, both in China and globally.
Dr. Liang Wei, Deputy Director of Big Data and Artificial Intelligence Research Institute, China Academy of Telecommunication Research said “Blockchain-based digital identity lies at the core of the future Web3.0, while blockchain-based digital assets are an important catalyst for the Metaverse. The BSIM card is positioned as the gateway infrastructure to Metaverse, providing differentiated features such as telecom hardware security, intelligent digital wallet, as well as DID value-added services. Partnering with Conflux will accelerate the process of connecting Web2.0 and Web3.0 users in this most imaginative space.”
About Conflux Network
Conflux is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure and scalable blockchain environment with zero congestion, low fees and improved network security.
As the only regulatory public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has partnered with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China and Oreo.
To learn more about Conflux, visit confluxnetwork.org or China Telecom visit http://www.chinatelecom.com.cn/
Dr. Ming Wu, CTO of Conflux Network and Dr. Liang Wei, Assistant Director of Big Data and Artificial Intelligence Research Institute, China Academy of Telecommunication Research are available for interview.
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