China Telecom, a state-run telecommunications giant, recently introduced a white paper on blockchain-powered smartphones in the 5G era, according to a report by local finance news outlet Sina News.
China Telecom’s research arm issued the white paper at the China International Smart Industry Fair on August 27, highlighting interesting details on a SIM-card that will purportedly provide support for ERC20 tokens and Ethereum. It will also be compatible with various types of smartphones. The paper further outlined crucial plans for changing a smartphone into a “decentralized node”, meaning the network will grow more secure as more customers use the SIM-card.
Although the ability to handle cryptocurrency alone with smartphones can be a huge decisive factor for crypto users, China Telecom has its eyes set on the bigger prize of 5G.
Over the next 10 years, the Chinese government and leading tech companies in China have plans to invest a whopping US$411 billion in developing 5G, according to information provided by the China Academy of Information and Communications Technology.
The 5G era is expected to bring an overflow of data as millions of IoT enabled and other devices take advantage of the greater bandwidth. It may also cause concerns regarding privacy and security as the huge flow of data will invariably create more opportunities for prying eyes.
Although China has launched a tough policy towards crypto, its state telecom provider is now speculating massively on the potential of the technology to boost privacy and security in the 5G era. According to the paper, blockchain has emerged as the only technology which will allow users to protect their data in such an age.
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