(Press release – Toronto, Canada, July 20, 2023)
Confusion Network, China’s first regulatory-compliant public blockchain, today announced a new collaboration with World Mobile, the only global mobile network built on blockchain.
The partnership follows the successful launch of the Conflux BSIM card earlier this year and will see the two companies working together initially in four areas:
1) Public gateway
World Mobile Token (WMT) will connect the Cardano blockchain to the Conflux blockchain ecosystem and will be the first bridge outside the Cardano ecosystem for the native mobile network token.
2) Technological integration
World Mobile and Conflux will collaborate on the technical integration of the Conflux network into World Mobile’s sidechain, AyA, bringing EarthNode capabilities and financial settlement to the Conflux network.
3) Asian and African market expansion
Conflux and World Mobile have a strong presence in the Asian and African markets, respectively. The two companies will work together to leverage these strengths to increase connectivity, drive user acquisition and pursue market penetration in key markets. Conflux CFX now ranks in the top 3 in most popular cryptocurrencies in nigeria. This is particularly relevant as Nigeria holds almost 67% of the crypto stakes in Africa. World Mobile recently concluded successful field tests of its dynamic hybrid network in Nigeria, following a successful commercial launch in Zanzibar earlier this year.
4) Development of blockchain-based SIM cards
World Mobile and Conflux will collaborate on how the mobile network can best use Conflux’s blockchain-based SIM card to increase access to digital connectivity across the globe.
YuanJie Zhang, co-founder of Conflux, said of the partnership, “Conflux Network takes its mission to push the boundaries of low-cost Web3 adoption with fast speed and decentralized security very seriously. An important strategy is to promote collaboration with telecommunications service providers around the world. World Mobile is the next major partner that Conflux brings on board after China Telecom. Together, affordable and applicable blockchain technology is connected beyond Asia to the rest of the world.
Zachary Vann, Head of Token, World Mobile Token added, “We are excited to work with Conflux to build a more connected and inclusive future. This partnership will accelerate our market expansion in Asia and provide connectivity globally. The Conflux network has a unique, regulatory-compliant blockchain, and the world’s first blockchain-based SIM cards bring many opportunities to our mobile network and AyA chain. This is our most important partnership to expand our network and our sharing economy in Asian markets and beyond.
Conflux Network is a permissionless layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to a PoW/PoS hybrid consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero footprint, low fees, and enhanced network security.
As the only regulatory-compliant public blockchain in China, Conflux offers a unique advantage for construction and expansion projects in Asia. Conflux has collaborated with global brands and government entities in the region on blockchain and metaverse initiatives, including the City of Shanghai, McDonald’s China, and Oreo.
Learn more: https://confluxnetwork.org/
About World Mobile
World Mobile was founded with an ambitious goal: to connect everyone, everywhere, while promoting economic freedom and dignity. Unlike traditional mobile networks, World Mobile is blockchain-based and empowers people to be part of a sharing economy that taps into the trillion-dollar global telecommunications market. Individuals and business owners around the world can operate nodes on its network and bring their community online while generating revenue.
Learn more: https://worldmobile.io/
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