coindesk.com
Blockchain protocol Conflux Network will build blockchain-based SIM cards in partnership with China Telecom, the second-largest wireless carrier in China with an estimated 390 million subscribers, as per a Wednesday tweet.
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China Telecom will launch the first BSIM pilot program in Hong Kong later this year, Conflux Network said.
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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 can also allow encrypted storage and key retrieval.
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Conflux is a speedy and cheap blockchain that claims to be the only regulatory-compliant public blockchain in China. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald's China, and Oreos.
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Conflux's native CFX tokens surged over 20% following reports of the China Telecom partnership.
(This is a developing story.)