Key takeaways:
- Conflux Network and China Telecom to Introduce Blockchain SIM Cards for Web3 Access
- The card incorporates Conflux’s Tree-graph, dual-proof-of-stake, and proof-of-work technology, providing the best system performance of any blockchain in existence.
A partnership between China Telecom and Conflux Network has been announced to market Blockchain SIM cards (BSIM). With the most users and applications, the entry-level Web3 product will be the largest blockchain hardware offering seen so far internationally. Later this year, China Telecom will introduce the first BSIM trial project in Hong Kong.
According to Conflux Networks’ Twitter announcement, “The Web3 product will be the biggest blockchain hardware product ever seen globally, involving the most users and applications.” Over 391 million people are mobile subscribers of China Telecom.
The user’s public and private keys will be managed and stored on the BSIM card, and digital signatures will be performed without the user’s private key leaving the card. The BSIM card also enables key retrieval and secured storage.
For the 390+ million mobile phone subscribers of China Telecom, BSIM will significantly lower the entrance barrier to Web3 while accelerating and securing transactions. The objective is to increase the security of mobile phones by enhancing the security of telecom users’ personal digital assets.
The BSIM cards incorporate Conflux’s Tree-graph, dual proof of stake (PoS), and proof of work (PoW) technologies in addition to the hardware security benefits of SIM cards, which will improve system speed.
The new BSIM card, according to Conflux, may store nonfungible tokens (NFTs) and facilitate transfers and an exchange feature. According to the company, China Telecom’s technology enables the BSIM to have up to “10-20 Times Storage Space” compared to conventional SIM cards, providing enhanced access to decentralised software and online communities.
China has been moving forward in the web3 race. Beijing now has a blockchain research centre. In order to create significant advancements and commercial items, the center will concentrate on core theory, technology, and hardware areas relevant to the blockchain. This research center will concentrate on achieving critical technological improvements related to the blockchain, according to the China administration.
Returning to the new BSIM card, the Card looks identical to a conventional SIM card; however, it has storage space that is 10–20 times larger and tens of times more powerful than a conventional SIM card. By switching to a BSIM card, users will have the ability to store their digital assets safely, transfer them easily, and show them in a number of applications.
