Conflux partners with China Telecom to develop blockchain SIM card
Cointelegraph
Published Feb 15, 2023 12:00PM ET
Updated Feb 15, 2023 01:40PM ET
According to a Feb. 15 announcement, Conflux Network, also known as Shanghai Tree-Graph Blockchain Research Institute, said that it had secured a partnership with China Telecom (NYSE:CHA) to develop a blockchain SIM (BSIM) card. 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.
Conflux also claims that the new BSIM card is able to store nonfungible tokens, or NFTs, with support for transfers and an exchange functionality. The firm also explains that with technology from China Telecom, the BSIM can have upward of “10-20 Times Storage Space” compared to regular SIM cards, allowing for optimized access to decentralized applications and digital communities.
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Written By: Cointelegraph
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