Conflux Network, the regulatory-compliant blockchain in China, has revealed more details about its blockchain-enabled SIM (BSIM) card in a recent interview with Coindesk.
Coinflux has partnered with China Telecom, the second-largest wireless carrier in China, to launch the first BSIM pilot program in Hong Kong later this year, followed by pilots in key mainland China locations such as Shanghai.
The BSIM card will manage and store the user's public and private keys in the card and carry out digital signatures in a way that the private key does not exit the card. The BSIM card will allow users to store digital assets safely, transfer digital assets conveniently, and display their assets in a variety of applications. Conflux's Chief Technology Officer, Ming Wu, noted that the BSIM card provides hardware cold wallet security and portability convenience simultaneously, making it attractive to both traditional and crypto users.
While there may be a small disadvantage for some users concerned about their privacy, the BSIM card's compliance with KYC requirements will make it easier to get support from the Chinese government. Conflux is expected to play a leading role in helping Hong Kong and mainland China expand their operations in the Web3 area.
TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.
Web3
Layer 1
