A little-known altcoin is skyrocketing after inking a massive partnership deal with a Chinese telecommunications giant.
In a new video update, the development team behind Conflux Network (CFX), thought to be the only regulatory-compliant blockchain in China, is announcing a new partnership with China Telecom, one of the largest wireless carriers in the country.
Conflux is a Web3-enabled layer-1 blockchain that aims to bridge the gap between Western and Asian markets. The partnership plans to develop a new SIM card, known as BSIM, that can be integrated with blockchain technology.
“China Telecom Research Institute and Conflux have taken the initiative to create SIM card equipment based on blockchain technology, BSIM Card, which is making the hypothesis possible [that] mobile phones will become the key to entering Web3 and the metaverse. BSIM cards have a secure space to store blockchain private keys so that our data assets will be stored and managed more securely.”
The BSIM card would allow users to conveniently and safely access Web3 services, such as payment platforms, metaverses, and decentralized applications (DApps) using their mobile devices.
“In the near future, we will use the BSIM card to bridge the virtual and the real worlds and carry out various activities, such as payments, gaming and social networking.”
News of the partnership sent Conflux flying as the token went from a 24-hour low of $0.055 to $0.095 in just a few hours, a 72.7% rally.
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