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Toronto, Canada, 15 February 2023, Chainwire
today china telecom and conflux network Announcing a partnership to bring the Blockchain SIM Card (BSIM) to market. His entry-level Web3 product is the largest blockchain hardware product ever seen in the world and will involve most users and applications. China Telecom plans to launch its first BSIM pilot program in Hong Kong later this year. This could be followed by pilots in key locations in mainland China such as Shanghai.
BSIM will dramatically lower the barriers to entry for China Telecom’s over 390 million mobile subscribers to Web3, while making transactions faster and safer. The goal is to make mobile phones safer by making telecommunications users’ personal digital assets safer.
The BSIM card integrates Conflux’s Tree Graph, Dual Proof of Stake and Proof of Work technologies to deliver the best system performance on any blockchain in the world. Take advantage of the hardware security of your SIM card to protect your private keys. This is a secure and convenient Web3 entry solution.
The BSIM card is indistinguishable from a traditional SIM card, but has 10 to 20 times more storage capacity and tens of times more computing power than a traditional SIM card. Users who switch to the BSIM card can safely store their digital assets, transfer their digital assets conveniently, and view their assets in various applications.
The BSIM card manages and stores the user’s public and private keys within the card and performs digital signatures to ensure that the private key never leaves the card. BSIM cards also allow encrypted storage, key retrieval, and other operations. The built-in Bluetooth module is responsible for asset signing and transfer, ensuring the security of personal digital assets. This reduces the risk of users being attacked by viruses and other malicious software on their phones.
A user’s identifier in the traditional world, such as a mobile phone number, can be associated with a distributed identifier (DID). This improves the integration and interaction of information in the virtual and real worlds. BSIM cards can also be combined with abstract accounts based on smart contracts, allowing blockchain applications to use users’ crypto and traditional world information safely and efficiently. Connecting DIDs to mobile phone numbers could also alleviate regulatory concerns stemming from the anonymity of blockchain technology.
The first contract was signed between Conflux Network and China Telecom in 2022. This prototype is the culmination of his year-long strategic effort with the goal of building a hardware product at the gateway to the world’s metaverse.
The BSIM card has completed the R&D phase and successfully connected to Conflux’s main network in a test environment. This prototype features storage and transmission of digital assets. Conflux and China Telecom are now focused on enriching the green applications of BSIM cards, focusing on games, payments and other areas.
Dr. Ming Wu, CTO of Conflux Network, said: This is the key for Conflux to take its ecosystem to the next level. Working with strong partners like China Telecom and starting from Hong Kong will enable us to reach markets both in China and globally in the near future. “
Dr. Liang Wei, Deputy Director of the Big Data and Artificial Intelligence Research Institute at the China Academy of Telecommunication Research, said: metaverse. The BSIM card is positioned as the gateway infrastructure for the Metaverse, offering differentiated features such as telecom hardware security, intelligent digital wallets, and DID value-added services. Partnering with Conflux accelerates the process of connecting his Web2.0 and Web3.0 users in this most imaginative space.
About Conflux Network
Conflux A permissionless Layer 1 blockchain that connects decentralized economies 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 improved network security.
As the only regulated public blockchain in China, Conflux offers unique advantages for building projects and expanding into Asia. In the region, Conflux has worked with global brands and government agencies such as Shanghai Municipality, McDonald’s China, and Oreo on blockchain and metaverse initiatives.
For more information on Conflux, please visit: conluxnetwork.org Or visit China Telecom http://www.chinaelecom.com.cn/
Dr. Ming Wu, CTO of Conflux Network, and Dr. Liang Wei, Deputy Director of Big Data and Artificial Intelligence Research Institute of China Telecommunications Research Institute, are available for interviews.
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