Conflux Network, a POW & POS hybrid blockchain network, has joined hands with China Telecom to launch blockchain-enabled SIM cards, dubbed BSIM.
In a Twitter announcement on Wednesday, February 15th, Conflux Network, also known as Shanghai Tree-Graph Blockchain Research Institute, said that it had inked a partnership with China’s second-largest mobile carrier China Telecom to develop BSIM cards that would provide all the functionalities possible with a public blockchain.
China Telecom, 2nd largest wireless carrier in China 🇨🇳 (390+ million mobile subscribers), has partnered with Conflux to develop Blockchain-enabled SIM cards – BSIM! pic.twitter.com/LQxz34L432
— Conflux Network Official (@Conflux_Network) February 15, 2023
BSIM: A Complete Web 3 Package
According to Conflux Network, the upcoming blockchain SIM cards will integrate all the features of the Conflux blockchain and will serve as a complete package for users to enter web 3 and Metaverse. The announcement reads:
“The BSIM card integrates Conflux’s Tree-graph, dual proof-of-stake, and proof-of-work technology, enabling the highest system performance for any blockchain in the world. With this initiative, we’re looking forward to lowering the barriers to entry for Web3 and the Metaverse.”
As told by Conflux, the BSIM card would securely store users’ public and private keys which can be used to carry out “digital signatures in a way that the private key does not exit the card.” The “one-click direct check” feature will allow users to check for transaction status in real time. BSIM will also allow for encrypted storage, key retrieval, and other communications functions.
According to a promo released by Conflux, BSIM also empowers users with the ability to store and exchange non-fungible tokens (NFTs). 10 to 20 times more storage space than regular SIM cards will allow for optimized access to Dapps and digital communities.
As per the announcement, China Telecom has scheduled the first BSIM pilot program in Hong Kong for later this year. This will likely be followed by pilot launches in key mainland China locations such as Shanghai.
Currently, the research and development (R&D) phase for BSIM is complete. The team has already developed a prototype. Conflux noted:
“The R&D phase for the BSIM card is complete – and it’s connected to Conflux’s main network in testing! This prototype has storage & sending functions for digital assets.”
This web 3 hardware project can be anticipated to have great success given the user base of China Telecom. It is currently the second-largest telecommunications provider in China, with more than 390 million users.
As of writing, Conflux native CFX token is up 138.71% in the last 24 hours. It is changing hands at $0.132362 a 24-hour trading volume of $439,762,422.