February 20, 2023
By Sharan Kaur Phillora
According to a Feb. 15 announcement, Conflux Network, also known as Shanghai Tree-Graph Blockchain Research Institute, said it had secured a partnership with China Telecom to develop a blockchain SIM (BSIM) card.
Here’s what we know:
As told by Conflux, the BSIM will have a secure place to store digital private keys and will be able to call upon the said signature to transfer money to other users. In addition, a “one-click direct check” functionality will allow users to check for transaction information and status progress in real-time.
The BSIM card will be launched as a pilot program in Hong Kong by China Telecom later this year, followed by pilots in other key locations such as Shanghai.
The card integrates Conflux’s Tree-graph, dual proof of stake, and proof of work technology, which allows for the highest system performance for any blockchain in the world.
Moreover, it uses the hardware security advantages of SIM cards to protect users’ private keys, providing a secure and convenient Web3 entry solution.
The BSIM card looks just like a traditional SIM card but has 10–20 times more storage space and tens of times more computing power. With a BSIM card, users will be able to store their digital assets safely, transfer them conveniently, and display them in a variety of applications.
Currently, China Telecom is the country’s second-largest telecommunications provider, with over 390 million users. The first pilot program for the BSIM is scheduled to launch in Hong Kong later this year.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.