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[PRESS RELEASE – Toronto, Canada, May 16th, 2023]
Conflux Network, recognized as the first regulatory-compliant public blockchain in China, in collaboration with the global communications entity China Telecom, has introduced its jointly developed Blockchain SIM (BSIM) card at the Xuhui District West Bank Artificial Intelligence Center in Shanghai.
In a groundbreaking development, the BSIM card serves as a mobile user identification card utilizing blockchain technology. It closely resembles conventional SIM cards while being fully compatible with popular mobile operating systems such as Android and iOS. Additionally, it offers storage capacity that is 10-20 times greater than that of standard SIM cards and computing power that is several dozen times more robust.
Beyond standard communication capabilities, the BSIM card can generate and securely store users’ public and private keys directly on the card. By executing digital signatures in a manner where the “private key never leaves the card,” it mitigates the risk of mobile devices being compromised by malware and viruses. Moreover, the BSIM card supports encrypted storage, key recovery functionalities, and can even incorporate traditional U-shield features, utilizing its hardware security benefits to safeguard users’ private keys. It currently represents the most secure and user-friendly entry solution for Web3 terminals.
At the launch event, Dr. Wu Ming, CTO and Co-Founder of the Conflux Network, successfully executed the transfer of a Commemorative NFT representing the partnership between China Telecom and Conflux by simply pressing the send button within the application. This event marked the inaugural on-chain, public utilization of the BSIM card, as the NFT was transferred from the BSIM card account of the Shanghai Conflux Research Institute to the BSIM card account of China Telecom.
Dr. Wu Ming from Conflux remarked: “From this point forward, all mobile communication users can acquire a more secure digital identity through mobile devices and engage with Web3 and the metaverse with minimal technical hurdles. Blockchain technology has progressed beyond its previous image as a complex and inaccessible concept, evolving into a genuinely practical infrastructure for applications within the global economy and everyday life.”
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Li Anmin, Deputy Dean of the Research Institute at China Telecom Group, added: “We are dedicated to collaborating with Conflux Network to develop and promote practical communication solutions that cater to real user needs. The BSIM card is merely the initial step as we work together to explore a variety of application scenarios and complementary products, enabled by the innovative fusion of blockchain technology with modern communication advancements.”
The BSIM card will undergo a pilot phase in Hong Kong prior to its gradual rollout in mainland and international markets.
About Conflux Network
Conflux is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. Recently transitioned to a hybrid PoW/PoS consensus model, Conflux offers a rapid, secure, and scalable blockchain environment characterized by zero congestion, low fees, and enhanced network security.
As the sole regulatory-compliant public blockchain in China, Conflux provides a distinctive advantage for projects aiming to establish and expand their presence in Asia. In this region, Conflux has partnered with global brands and governmental organizations on blockchain and metaverse initiatives, including collaborations with the city of Shanghai, McDonald’s China, and Oreo.
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