China Telecom partners with Conflux Network to create BSIM, CFX prices jump 46%

China’s second-largest wireless carrier, China Telecom, recently partnered with Conflux Network to develop a blockchain-enabled SIM card called BSIM. Conflux Network announced on Twitter that the BSIM product will be the largest blockchain hardware product in the history of the world and will involve the most users and applications.

The BSIM card will integrate tree graphs, dual PoS (proof of stake) and Conflux’s PoW (proof of work) to achieve the highest system performance for any blockchain in the world. It will store and manage the user’s public and private keys in the card, and perform digital signatures in such a way that the private key does not escape the card. In addition, the BSIM card can also perform operations such as encrypted storage and key retrieval.

The BSIM card pilot program will be launched in Hong Kong later this year, which will be the first of its kind in the world. This initiative aims to lower the barriers to entry for Web3 and Metaverse, enabling users to easily access and securely store digital assets.

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According to the announcement, the research and development phase of the BSIM card has been completed, and it has been connected to the Conflux mainnet during the test period. The prototype has the function of storing and sending digital assets, which is an important step in the development of blockchain technology.

This partnership between China Telecom and Conflux Network is an important move for both the telecom and blockchain industries. BSIM cards have the potential to revolutionize the way digital assets are stored and managed, making them more accessible and secure to a wider audience.

Additionally, the integration of blockchain technology into SIM cards has the potential to transform the telecommunications industry. The initiative has the potential to provide a secure and transparent system for data exchange, making it easier for businesses to operate and communicate more effectively.

The BSIM card jointly developed by China Telecom and Conflux Network is an important milestone in the blockchain industry, paving the way for a more convenient and safer future for digital assets.

At press time, the price of Coinflux Network’s native token, CFX, is currently up more than 46 percent, trading at $0.078.

Source: TradingView

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