• Conflux Network has recently announced that it is partnering with China Telecom to create a blockchain-enabled SIM card (BSIM).
• The new card will be the largest blockchain hardware product globally, opening up access to Web3 and the Metaverse.
• The BSIM card will manage and store a user’s blockchain private keys and digital assets, acting as a safer entrance to the Metaverse.
Conflux Price Explodes 366% Following China Telecom Deal
The Conflux price has been on an upward trend since it announced its partnership with Chinese mobile network operator China Telecom. The token’s price has risen by 366% over the past 6 days and 25% in the last 24 hours, while its 24-hour trading volume has increased by 108% to $538 million. With a live market cap of $445 million, the Conflux token is currently ranked at #94 according to CoinMarketCap.
China Telecom Partnership
The recent uptrend in the Conflux price can be attributed to its deal with China Telecom, which plans to build “blockchain-enabled SIM” (BSIM) cards on the proof-of-work (PoW)/Proof-of-stake (PoS) hybrid blockchain. This would make Conflux Network the only crypto company operating with approval from the Chinese government after they put a blanket ban on all crypto products back in 2021.
Features of BSIM Card
The BSIM card will use Conflux’s Tree-graph, dual PoS and PoW technology and manage and store users’ public and private keys in the card. It will also carry out digital signature operations for secure transactions within Web3 platforms such as blockchains. By doing so, it lowers barriers for entry into this space for users worldwide by providing a safe and compliant entrance into the Metaverse. The pilot program for this project is set to launch later this year in Hong Kong.
Impact of New Card
This new collaboration between Conflux Network and China Telecom could have far reaching implications for both companies involved as well as users who may benefit from access to Web3 platforms like blockchains through this new card offering. As more people gain access to these platforms, there could be greater adoption of blockchain technology both within China and beyond its borders – leading potentially even more widespread use of cryptocurrencies such as CFX itself down the line.
The recent surge in Conflux’s price appears to be directly related to its partnership with China Telecom – one that could help open up access not only within China but around world – thus bringing about wider adoption of cryptocurrencies like CFX itself down the line..