China Telecom emits white paper on 5G blockchain phones
30 Aug 2019
China Telecom has unveiled a white paper on 5G blockchain-powered smartphones.
The phone operator introduced the white paper at the China International Intelligent Industry Expo this week, as per a report by local finance news outlet Sina.
China Telecom listed the advantages of utilising blockchain technology in mobile phones, including automation and transaction traceability.
The white paper states that people will be able to master their own digital asset within the era of 5G, while “regardless of data volume, data varieties and data dimensions, data assets will grow geometrically.”
According to a Coin Telegraph report, despite the growing adoption of blockchain in the mobile industry, the rate of adoption is comparatively low at present, as blockchain-powered phones are not as yet being mass produced.
Up to now, the majority of blockchain mobile phone makers have used the technology to determine market hotspots, as opposed to bringing the tech to the industry, China Telecom stated.
The blockchain application ecosystem defined in the white paper aims to solve issues in operating mobile networks such as fraud, data loss and identity theft crimes. In addition, the white paper also describes a blockchain digital asset management system, based on a SIM card.
The idea is to utilise blockchain in dealing with theft and loss by creating blacklists linked to trusted IMEIs, encrypted through blockchain. Therefore, when blacklisted, the stolen device can be identified and disabled using blockchain.
Furthermore, the white paper developed by China Telecom states the 5G blockchain has five principal application circumstances, involving digital identity verification, financial application, supply chain tracing application, judicial application and express delivery industry, says Coin Telegraph.
As reported previously, the combination of 5G and blockchain can hypothetically contribute to an increase in economic value. In part this is due to 5G’s capability to directly assist blockchains by enhancing decentralisation and node participation, in addition to allowing for shorter block times, fuelling on-chain scalability.