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Toronto, Canada, February 15, 2023, Chainwire
Today China Telecom and Conflux Network announced 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 mainland China locations such as Shanghai.
BSIM will dramatically lower the barrier to entry to Web3 for China Telecom’s 390+ million mobile subscribers, while making transactions faster and more secure. By making telecommunication users’ personal digital assets more secure, the goal is to make cell phones more secure.
The BSIM card integrates Conflux’s Tree-graph, dual proof-of-stake and proof of work technologies, enabling the highest system performance for all blockchains in the world. It uses the advantage of SIM card hardware security to protect the user’s private key, which is a secure and convenient Web3 entry solution.
BSIM cards are indistinguishable from traditional SIMs in appearance but their storage space is 10-20 times larger than traditional SIM cards, and their computing power is increased dozens of times. Users who switch to BSIM cards will be able to store digital assets securely, transfer their digital assets conveniently, and display their assets in various applications.
The BSIM card will manage and store the user’s public and private keys on the card, and perform digital signatures in such a way that the private key does not come out of the card. BSIM cards can also enable encrypted storage, key retrieval and other operations. The built-in Bluetooth module will be in charge of signature and asset transfer, to ensure the security of personal digital assets. This reduces the user’s risk of being attacked by viruses and other malicious software on the phone.
User identifiers in the traditional world, such as mobile numbers, can be associated with their Decentralized Identifier (DID). This will enable better integration and interaction between cyber and real world information. BSIM cards can also be combined with abstract accounts based on smart contracts, enabling blockchain applications to use crypto users and traditional world information securely and efficiently. Associating DIDs with mobile numbers can also alleviate some of the regulatory issues that stem from the anonymity of blockchain technology.
A preliminary agreement was signed in 2022 between Conflux Network and China Telecom and this prototype is the culmination of a year-long strategic engagement with the aim of building hardware products at the gateway to the world’s metaverse.
The research and development phase of the BSIM card has been completed, and it has been successfully connected to the main Conflux network in the test environment. This prototype has the function of storing and sending digital assets. Conflux and China Telecom will now focus on enriching the ecological application of BSIM cards, with emphasis on gaming, payment and other fields.
Ming Wu, CTO of Conflux Network said, “BSIM cards significantly improve the user experience and lower the barriers to entry for Web3 and the Metaverse world for users. This is key to enabling Conflux to take its ecosystem to the next level. Collaborating with a strong partner like China Telecom and initiating from Hong Kong will enable 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, Chinese Academy of Telecommunications Research said, “Blockchain-based digital identities lie at the heart 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 for Metaverse, providing distinct functions such as telecommunications hardware security, smart digital wallets and DID value-added services. The partnership with Conflux will accelerate the process of connecting Web2.0 and Web3.0 users in this most imaginative space.”
About the Conflux Network
Crowds is a permissionless Layer 1 blockchain that connects a decentralized economy across borders and protocols. Recently migrated to a hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and greater network security.
As the only regulatory-compliant public blockchain in China, Conflux provides unique advantages for project development and expansion into Asia. 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 Oreo.
To learn more about Conflux, visit confluxnetwork.org or visit China Telecom http://www.chinatelecom.com.cn/
Ming Wu, CTO of Conflux Network and Dr. Liang Wei, Deputy Director of Big Data and Artificial Intelligence Research Institute, China Academy of Telecommunication Research is available for interview.
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