China's state-run company and Conflux to launch blockchain-based SIM card
China's second-largest wireless operator China Telecom and the Conflux Network project will launch a BSIM pilot program in Hong Kong by the end of this year
China Telecom and Conflux Network have entered into a partnership that will develop and release blockchain-enabled SIM cards (BSIM). The BSIM pilot program will be launched in Hong Kong by the end of this year, according to a statement from Conflux developers.
China Telecom is China's largest state-owned telecommunications company and the country's second-largest wireless operator. The company has more than 391 million cell phone subscribers, according to its official Web site.
Conflux Network is a high-performance Tier 1 blockchain. The project was created as a competitor to Ethereum and was supported by Chinese government agencies. The company has partnered with brands such as McDonald's China and Oreo.
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The BSIM card will manage and store the user's public and private keys and allow digital signatures to be used securely without disclosing them. It will also enable payment transactions, NFT transfers, decentralized applications (Dapps), and access to meta-universes.
Amid the announcement of Conflux's partnership with China Telecom, the CFX crypto project's native token rose more than 42% overnight. . Its market capitalization is $154 million and its daily trading volume is $104 million.
In late January, it became known that the social network Xiaohongshu - "Chinese" Instagram (the social network belonging to the company Meta, recognized as extremist and banned in Russia) has integrated a blockchain Conflux Network. The site has an active audience of over 200 million users and the implementation of Conflux will allow them to show NFT on their profile.
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