- Vodafone will use Pairpoint to implement SIM card technology in digital wallets that are blockchain-based and available on mobile devices.
- Its subsidiaries are available worldwide, allowing the company to accelerate mass adoption of crypto.
Vodafone Group Plc. is an international telecommunications giant that operates primarily in Europe, Asia and Oceania. It also has operations throughout Africa. The company uses blockchain technology to assist users with managing crypto assets. David Palmer, Pairpoint’s Chief Product Officer (CFO), said in an interview that the company would be linking SIM cards with digital wallets.
“Within each mobile phone is a SIM card and we have focused on linking the mobile phone SIM card to digital wallets, identity, and blockchains, using the cryptography we have in those SIM cards for that blockchain integration,” Palmer noted.
Vodafone Web3 Industry
Following the adoption of clear regulatory frameworks for crypto in various jurisdictions, led by Europe. Crypto News Flash was published recently pointed outThe recent approval of Bitcoin ETFs by the United States, Hong Kong, Australia and other countries will have a significant ripple effect on the rest of the world, including the United Kingdom and Singapore.
Vodafone already has a digital platform called Pairpoint that’s secure and allows devices like vehicles to communicate seamlessly. In order to meet the demand of interoperable, blockchain-based digital wallets, Vodafone has entered the web3 space and is launching the Internet of Things.
Palmer believes that the number of digital wallets based on blockchain will reach up to 5.6 million in 2019. next Six years. The linking of digital wallets based on blockchain technology with SIM cards will also allow for more widespread adoption, which was previously restricted due to web3 protocol sophistication.
“Long term the pathway is towards using public blockchains such as the Ethereum network, and with the Ethereum fork, we are starting to see that public blockchains are becoming faster and more secure,” Palmer added.
Vodafone had previously entered the web3 market through its PairPoint platform for digital assets. Smart contracts can be used to facilitate the transfer of data between private and public blockchains. Vodafone also uses blockchain technology for interoperable digital passports.
Market Impact
As major tech companies enter the web3 space, they will be exposed to advanced hacking threats such as Lazarus in North Korea. The cryptocurrency market will continue to expand exponentially over the next few years.
You can also read about the advantages of using Crypto News Flash explainedThe fourth Bitcoin halves has occurred, reducing the block rewards from around 3,125 BTCs to approximately 3.125 BTCs. The overall Bitcoin demand is increasing by the day and this will be fueled by retail traders who are fleeing the market, as well as institutional investors.
Berstein analysts wrote to investors that Bitcoin’s price would reach $150,000 at the very least by the year 2025.
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Source: www.crypto-news-flash.com