A little-known altcoin is surging after signing a major partnership deal with a Chinese telecoms giant.
In a new video update, the development team behind Conflux Network (CFX), believed to be China’s only regulated blockchain, announcement A new partnership with China Telecom, one of China’s largest wireless operators.
Conflux is a Web3-enabled layer 1 blockchain that aims to bridge the gap between Western and Asian markets. The partnership plans to develop a new SIM card, known as BSIM, that can be integrated with blockchain technology.
“China Telecom Research Institute and Conflux have taken the initiative to create a SIM card device, a BSIM card, based on blockchain technology, enabling hypotheses. [that] Mobile phones are key to entering the Web3 and Metaverse. B.SIM cards have a secure space to store blockchain private keys, allowing you to store and manage your data assets more securely. ”
BSIM cards allow users to conveniently and securely access Web3 services such as payment platforms, metaverses and decentralized applications (DApps) using mobile devices.
“In the near future, we plan to use BSIM cards to bridge the virtual and real worlds to carry out various activities such as payments, games and social networking.”
News of the partnership sent Conflux skyrocketing as the token rose from a 24-hour low of $0.055 to $0.095 in just a few hours, up 72.7%.
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