Conflux token CFX is one of the best-performing tokens this year, rising nearly 20 times since January, and even after a recent pullback, it has risen more than 16 times.
One of the main drivers for its rise is the launch of blockchain-enabled BSIM cards by Conflux and China Telecom. Recently, in an interview with CoinDesk, Conflux once again revealed the details of its cooperation with China Telecom - the storage capacity and computing power of the BSIM card are more than 10 times that of the traditional SIM card. Users who switch to the BSIM card will be able to safely store digital assets and transfer them conveniently Digital assets, and display assets in a variety of applications.
It is reported that Conflux is developing a mobile application that will encapsulate access to BSIM cards, thereby helping users manage digital assets according to their traditional habits without knowing the encryption key. The card is considered to be a unique entrance for users to interact with applications based on cryptocurrency, and SIM card users can be converted into Web3 users by upgrading their BSIM cards.
first level title
What innovative companies are currently on the 80 billion US dollar track?
secondary title
1 、Conflux
Conflux is currently the only legal public chain in China, and will cooperate with China Telecom to develop a blockchain-based SIM card. The two parties will launch the first BSIM pilot project in Hong Kong later this year, with pilots in places such as Shanghai likely to follow. The BSIM card will manage and store the users public key and private key, and perform digital signatures in such a way that the private key does not exit the card. The BSIM card will allow users to safely store digital assets, transfer digital assets conveniently, and display their assets in various applications.
secondary title
2 、Telcoin
Telcoin is the first cryptocurrency to play a synergy between mobile communications and the fast, borderless nature of blockchain technology, dedicated to connecting mobile networks around the world, enabling telecom mobile money, prepaid credit and postpayment Easy switching between free platforms.
secondary title
3 、Syntropy
secondary title
4 、Wayru
Wayru has developed a brand new global network of compatible hotspots and a hardware device (called Genesis) for individuals to share their internet connection in exchange for cryptocurrency. Anyone can buy its Hotspot Pool tokens to support the network.
secondary title
5 、EMG
EMG, the Web3 company of the Emeldi Group, has developed a set of Web3 applications to meet the telecommunications needs of underprivileged communities. One of these applications will focus on improving and simplifying the process of authenticating customers to access telecommunications services. The current traditional process requires new customers to sign a contract in person at a mobile operators brick-and-mortar store, provide their ID and sign dozens of pages of paper contracts. EMGs app is designed to integrate smart contracts to enable a one-click authentication process.
secondary title
6 、PKTPal
PKT is an open source community project that monetizes a households internet connection by enabling anyone to become an ISP in their local community and earn passive income from their internet connection.
first level title
The telecommunications industry urgently needs to break through the bandwidth bottleneck
secondary title
1. Increased bandwidth demand leads to network congestion
On the one hand, ISPs are struggling to keep up with rising consumer demand. Its not uncommon to experience increased latency (also known as lag) or interruptions in service. for example:
In 2020, YouTube services are down worldwide
l Demand for broadband communications services has soared since the start of the COVID-19 crisis, the OECD has warned. Some operators see 60% increase in internet traffic compared to pre-crisis
l In 2021, a service outage paralyzed Amazon, Twitter, Twitch and other sites
7pm to 11pm every weekday, network congestion is slowing down data-intensive applications and services
In the future, the demand for bandwidth will continue to grow rapidly. According to Huaweis forecast, by 2030, the global per capita monthly wireless cellular network traffic will increase by 40 times, reaching 600 GB. The main reasons for the growth are: first, virtual reality games and augmented reality applications, which use traffic 2 to 3 times that of ordinary games and applications; second, online apps will continue to usher in huge growth; third, more and more remote areas will Connect to the Internet. All of the above will lead to an increase in consumers demand for bandwidth, while Internet service providers will struggle to keep up with this increase. The International Telecommunication Union (ITU) has revealed that approximately $428 billion will be needed to connect the 3 billion unconnected people to the Internet by 2030.
secondary title
2. 70% of the bandwidth is not used
Telcos have poured resources into building out their servers and data centers, connecting homes around the globe with fiber optics, and looking after those assets 24/7. But 70% of the existing infrastructure is not being used.
So, how can there be congestion if a lot of bandwidth is not being used? This is exactly where the limitations of the current Internet infrastructure construction methods lie. for example:
There is only one road from the suburbs to the city center, and during rush hour, there will be traffic jams on this road, and, unless there is a serious waste of resources, there is no way we can make it wide enough to allow all these cars to pass at once. However, at other times of the day, there is hardly any traffic on the road.
The same problem occurs with internet bandwidth.
Bandwidth Monetization, How Can Blockchain Solve Network Congestion?
So, can blockchain solve the problem of bandwidth waste and network congestion?
Telecom companies can create a decentralized network through blockchain technology, allowing users to share their excess bandwidth with others in exchange for cryptocurrency or other rewards, while also reducing network congestion and improving overall network performance. Perhaps in the future, anyone can use the blockchain to monetize unused internet bandwidth and thereby earn passive income.
text
1. Prevent fraud
Fraud detection is a fundamental problem in the field of communication service providers. According to the GSMA (Global System for Mobile Communications Association), fraud costs the industry more than $38 billion a year. Using blockchain technology can effectively improve this problem.
Taking the roaming usage scenario as an example, when making a call from another country, all generated data must be reconciled between the operator in the originating country and the operator in the destination country. However, when billing, since there is no general database, there is a risk of fraud caused by information asymmetry. This problem would be solved if that information were stored on the blockchain.
2. Billing process improvement
text
3. Let more people connect to the Internet
According to a new report by the United Nations International Telecommunication Union (ITU), there are still nearly 3 billion people in the world who have never used the Internet, which accounts for about 37% of the worlds total population. According to the United Nations agency, more than 12 percent of the population does not have access to the Internet.
epilogue
epilogue
Although the popularity of the Web3 world may take five to ten years, blockchain technology is indeed reshaping the traditional Internet and telecommunications industries. Telcos in the Web2 era relied on serving customers via SIM cards, subscriptions and direct billing, but these will be challenged in a Web3 world.
Disclaimer: There are risks in the market, and investment needs to be cautious. Readers are requested to strictly abide by local laws and regulations when considering any opinions, viewpoints or conclusions in this article. The above content does not constitute any investment advice.
Copyright statement: If you need to reprint, please add the assistant WeChat to communicate. If you reprint or wash the manuscript without permission, we will reserve the right to pursue legal responsibility.
Disclaimer: There are risks in the market, and investment needs to be cautious. Readers are requested to strictly abide by local laws and regulations when considering any opinions, viewpoints or conclusions in this article. The above content does not constitute any investment advice.
