David Palmer stressed the significance of using SIM card technology to integrate blockchain.
David Palmer, the chief product officer of PairPoint and a blockchain expert at Vodafone, has stressed the importance of mobile phones as the principal entry point to digital apps and commerce. Palmer recently spoke about how important it is to use SIM card technology to integrate blockchain in an interview.
Palmer brought attention to the massive scope of mobile phone use when speaking with Brian McGleenon, a well-known financial writer, by referencing a statistic that projected 8 billion devices would be in use by 2030. He predicted that 5.6 billion wallets would be in use by 2030, all based on blockchain technology and accessible via mobile phones.
Palmer claims that people’s mobile phones serve as a portal through which they may access apps and conduct business. Since SIM cards are the heart of mobile phones, Palmer emphasized that his company’s focus is on connecting them to digital identities and blockchains. The chief product officer of PairPoint said that his company would include cryptography in the SIM cards as part of the next integration.
Palmer highlighted innovation as the bridge connecting individuals to financial services, highlighting the expected increase in digital wallets. In his view, such wallets are containers for digital identities and other credentials. Therefore, in order to facilitate future transactional models, his organization intends to integrate the wallets with SIM cards.
Palmer thinks that public blockchains are the way to go for the suggested innovation in the long run. He did concede that quicker blockchains are a result of new innovations like Layer 2 protocols and the Ethereum split. But he did say that rules in the finance sector may be a roadblock to public blockchains.
When asked about integration options, Palmer said that PaiPoint offers a collaborative framework that allows large organizations to use public blockchains via their chain connection. In this approach, they will be able to use the private blockchain to implement the Smart Contract.
Also Read: Coinbase is the subject of a new lawsuit claiming investor fraud
Wallets