According to Conflux, BSIM will have a secure place to store digital private keys and will support the transfer and exchange of NFTs. Conflux Network, also known as the Shanghai Treemap Blockchain Research Institute, said it has entered into a partnership with China Telecom to develop a Blockchain SIM (BSIM) card, according to a Feb. 15 announcement. As Conflux said, BSIM will have a secure place to store digital private keys and be able to invoke the aforementioned signature to transfer funds to other users. In addition, the "one-click direct query" function will allow users to query transaction information and status progress in real time.
Conflux also claims that the new BSIM card is capable of storing non-fungible tokens, or NFTs, and supports transfer and exchange functions. The company also explained that with China Telecom’s technology, a BSIM can have “10-20 times the storage space” compared to a regular SIM card, allowing for optimized access to decentralized applications and digital communities.
Currently, China Telecom is the second largest telecom operator in China with more than 390 million subscribers. BSIM's first pilot program is scheduled to launch in Hong Kong later this year.
Conflux is a layer 1 blockchain based on hybrid proof-of-work and proof-of-stake consensus. It’s billed as “China’s only regulatory-compliant public blockchain,” and the company claims its technology has been used in partnership with brands like McDonald’s China and Oreo. Its parent company, Shanghai Shutu Blockchain Research Institute, is supported by the Shanghai Municipal People's Government.
