Conflux partners with China Telecom to develop blockchain SIM card

As reported on 15 Feb. announcement, Conflux Network, also known as the Shanghai Tree-Graph Blockchain Research Institute, said it has partnered with China Telecom to develop a Blockchain SIM (BSIM). According to Conflux, BSIM will have a secure place to store the digital private keys and will be able to use said signature to transfer money to other users. In addition, the “one-click direct check” feature will allow users to check transaction information and status in real time.

“The R&D phase of the BSIM card is complete and it is connected to the main Conflux network in testing! This prototype has the functions of storing and sending digital assets.”

Conflux also claims that the new BSIM card can store non-fungible tokens or NFTs with support for transfers and exchange features. The firm also explains that with China Telecom’s technology, BSIM can have over “10 to 20 times more storage space” compared to conventional SIM cards, allowing for optimized access to decentralized applications and digital communities.

At present, China Telecom is the second largest telecommunications service provider in the country with over 390 million users. The first BSIM pilot program is scheduled to launch in Hong Kong later this year.

Conflux is a layer 1 blockchain powered by a hybrid Proof-of-Work and Proof-of-Stake consensus. It has been called “the only regulatory-compliant public blockchain in China,” and the firm claims its technology has been used in collaboration with brands such as McDonald’s China and Oreo. Its parent, the Shanghai Tree-Graph Blockchain Research Institute, is backed by the Shanghai Municipal People’s Government.

Credit :

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker