Vodafone using sim card tech for blockchain-based digital wallets on mobile phones | Future Focus

Vodafone using sim card tech for blockchain-based digital wallets on mobile phones | Future Focus

On this week's episode of Yahoo Finance Future Focus, our host Brian McGleenon delves into the world of blockchain technology with Vodafone Blockchain Lead and PairPoint CPO David Palmer.

Palmer shed light on Vodafone's approach to integrating blockchain with mobile phone technology, specifically through the utilisation of sim cards.

He began by highlighting the sheer scale of mobile phone usage, with an expected 8 billion devices in operation by 2023, and then emphasised the pivotal role of mobile phones as the primary gateway to digital applications and commerce, underscoring the importance of leveraging sim card technology for blockchain integration.

The discussion turned to the forecasted mass adoption of blockchain-based digital wallets on mobile phones, with Palmer forcasting a surge to 5.6 billion wallets by 2030.

The episode delved into Vodafone's PairPoint Digital Asset Broker (DAB) platform, providing insights into how the platform facilitates seamless transactions across public blockchains like Ethereum, as well as private ones, and how it empowers IoT devices with decentralised digital identities.