Vodafone plans to focus on embedding blockchain into smartphones by implementing the linking of SIM cards to digital identity and crypto wallets.
David Palmer, CPO of Pairpoint by Vodafone, one of the leading mobile operators, revealed that the company plans to meet the demand for using smartphones for cryptocurrency transactions by integrating blockchain into mobile devices through SIM cards.
According to Palmer, the company expects to have about 8 billion mobile devices in use by 2030, most of which will be smartphones. Meanwhile, Vodafone analysts expect about 5.6 billion mobile devices to have crypto storage and transfer apps installed. Palmer said that “within each mobile phone is a SIM card,” so they plan to use this technology to identify and manage crypto transactions digitally.
The future integration will utilize technology from the Pairpoint blockchain platform, formerly Digital Asset Broker, developed by Vodafone for device interoperability as part of the Internet of Things (IoT). Using SIM card technology for crypto wallets on mobile devices will allow smartphones to interact with each other autonomously and seamlessly.
Palmer also emphasized that the company will focus on making cryptocurrency transactions through mobile devices easier using public blockchain networks like Ethereum and private networks like JPMorgan’s Onyx. Vodafone’s Pairpoint blockchain solution will use SIM card data to create account abstractions and enable cross-chain interoperability.
Palmer revealed that the company already conducted several experiments as part of its SIM integration with blockchain. For example, in its experiments with micropayments, Pairpoint created and used “digital ID passports” for peer-to-peer transactions. These blockchain ID solutions allow private keys to be securely stored in the hardware module of a SIM card.
Among the main obstacles in implementing the project, Palmer named regulatory restrictions, as well as the need to strengthen the methods of protecting crypto wallets from cyber threats and hackers.
Vodafone’s Pairpoint blockchain platform participated in the Chainlink experiment to explore the potential of smart devices and DLT systems within the data transfer framework through AI-powered apps.
