LayerZero Will Power China's Blockchain SIM

LayerZero Will Power China's Blockchain SIM

LayerZero Labs and Conflux Network will partner to introduce omnichain functionalities to China Telecom's BSIM card, enabling a seamless blockchain experience for users, according to a press release shared with Lucky Trader. 

The Deets

  • BSIM Card: A secure device that offers blockchain-based features like digital asset storage and identity verification.
  • Omnichain Messaging: LayerZero's protocol will enable BSIM users to transfer assets and data across LayerZero-supported chains, starting with the Conflux mainnet.
  • Enhanced Security: Assets on BSIM cards will be safeguarded on multiple blockchains, converting phones into omnichain wallets.
  • Cross-Chain Transfers: Initial capabilities allow users to shift cryptocurrencies from Conflux mainnet to Ethereum, with more chains soon.

The Bulk

LayerZero Labs, known for its omnichain messaging protocol, will officially join forces in partnership with Conflux Network, China's regulatory-compliant public blockchain. The collaboration intends to infuse omnichain capabilities into China Telecom's innovative blockchain-based SIM card (BSIM), which was announced earlier this year.

BSIM is designed to let users not only store digital assets securely but also verify their digital identities. With this new partnership, BSIM users can capitalize on LayerZero's messaging platform to transition their stored assets and data on their cards across different blockchains, primarily initiating with the Conflux mainnet.

One of the noteworthy features is the enhanced security against potential malware threats. The security attributes of the underlying blockchains are adopted, providing another layer of protection. Moreover, the data secured on BSIM can reside on multiple blockchains, propelling the security level and transforming mobile phones into omnichain wallets. This transition is pivotal for users as it allows them to venture into the rapidly growing domains of DeFi, NFTs, and gaming. The capability to exchange assets or transition NFTs across LayerZero-integrated chains is anticipated in the future.

🎤Founder Feedback

This partnership is an important step in expanding our global footprint, specifically the APAC region. The integration of our capabilities into the BSIM technology with Conflux is a key part of bringing the best-in-class omnichain experience we provide to a larger market.Bryan Pellegrino, Co-Founder and CEO of LayerZero Labs

🔜What's Next?

The current capabilities of the BSIM cards are set to begin with the transfer of cryptocurrencies from Conflux's eSpace and Core space to Ethereum. As the months progress, users can expect the inclusion of more chains and enhanced features. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.