Vodafone, the British telecommunications company, is planning to utilize SIM card technology to enable blockchain-based digital wallets on mobile devices through its subsidiary Pairpoint. This move is expected to accelerate the adoption of cryptocurrencies on a larger scale. Vodafone Group Plc., a multinational telecommunications company operating globally, is taking steps to enhance its SIM technology by integrating blockchain, allowing users to manage their crypto assets. David Palmer, the Chief Product Officer of Pairpoint, explained in a recent interview that the company aims to link mobile SIM cards with digital wallets, identity, and blockchains by leveraging the cryptography embedded in the SIM cards. This development aligns with Vodafone’s foray into the web3 and Internet of Things (IoT) sectors, as there is a growing demand for interoperable blockchain-based digital wallets. Palmer predicts that the number of blockchain-based digital wallets will surge to 5.6 billion within the next six years. The integration of blockchain-based digital wallets with SIM card technology will remove barriers and enable wider adoption of cryptocurrencies. Palmer also mentioned that the long-term goal is to utilize public blockchains, including the Ethereum network, as they become faster and more secure. Vodafone has previously ventured into the web3 sector through its PairPoint digital asset broker platform, which facilitates transactions between public and private blockchains using smart contracts. The company has also introduced interoperable digital identity passports using blockchain technology. While major tech companies entering the web3 sector will face increased hacking threats, the cryptocurrency market is expected to experience significant growth in the coming years. The recent Bitcoin halving, which reduced block rewards to approximately 3.125 BTCs, coupled with increasing demand from institutional investors and retail traders, is expected to drive Bitcoin prices to reach at least $150,000 by the end of 2025, according to analysts at Berstein.
