Vodafone’s Pairpoint Plans to Embed Crypto Wallets in SIM Cards

Chief product officer (CPO) of Pairpoint by Vodafone David Palmer talked about the company’s ambitious steps toward blockchain integration in a recent interview with Yahoo Finance Future Focus.

Palmer presented Pairpoint’s plan to transform cryptocurrency transactions through the seamless integration of blockchain technology into mobile devices, namely through the connection of crypto wallets to SIM cards. This creative solution makes easy use of the cryptographic features built into SIM cards to enable blockchain integration.

Fostering Web3 and IoT Services

Pairpoint’s dedication to developing web3 and internet of things (IoT) services was highlighted by the CPO. Pairpoint wants to create digital wallets for mobile devices that are based on blockchain technology and use SIM cards to increase access to financial services. Palmer predicted that the number of blockchain-based digital wallets will soar to an astounding 5.6 billion globally by 2030, mostly due to the growth of cell phones, which are expected to reach eight billion worldwide.

These disclosures are in line with Vodafone’s more general strategy plans concerning technology and innovation. Vodafone has announced its entry into the generative artificial intelligence (AI) services market by partnering with Microsoft for ten years. In addition, Pairpoint—formerly known as Digital Asset Broker (DAB)—worked with Chainlink Labs and Sumitomo Corporation to create a proof of concept that optimized trade document exchange between various blockchains and platforms. With a whopping $32 trillion in value, the global commerce ecosystem has several inefficiencies that this project aims to fix.