U.K. telecommunications giant Vodafone is planning to integrate crypto wallets directly into mobile phone SIM cards, according to David Palmer, the chief product officer (CPO) of Pairpoint by Vodafone. In an interview with Yahoo Finance Future Focus, Palmer discussed the company’s strategy to drive blockchain adoption for managing crypto transactions on mobile devices.

Palmer highlighted Vodafone’s focus on connecting SIM cards to crypto wallets to leverage the cryptographic capabilities of SIM cards for seamless integration with blockchain technology. Pairpoint, a Vodafone subsidiary, is at the forefront of advancing web3 and internet of things (IoT) services by utilizing SIM card technology for blockchain-based digital wallets on mobile devices.

Palmer predicts that by 2030, there will be around 5.6 billion blockchain-based digital wallets worldwide, serving as gateways to financial services. He also estimates that by the same year, approximately eight billion cell phones will be in use globally, providing at least 70% of the world’s population with access to this technology.

These developments follow Vodafone’s recent 10-year strategic partnership with Microsoft to offer generative artificial intelligence (AI) services to customers. Additionally, Vodafone has demonstrated interest in web3 and blockchain technology through collaborations such as the proof of concept with Sumitomo Corporation and Chainlink Labs, aimed at streamlining the exchange of trade documents across different platforms and blockchains.

This initiative addresses the inefficiencies in the global trade ecosystem, estimated to be worth $32 trillion, by facilitating the seamless exchange of critical trade documents across various platforms and blockchains that are often hindered by fragmented systems.

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