Bitcoin 0.19%
$9268.57
Cardano 0.61%
$0.12
Ethereum Classic 0.23%
$6.26
Bitcoin Cash 0.41%
$237.79
NEM -0.02%
$0.04
Ethereum 0.61%
$239.78
Stellar 1.85%
$0.07
EOS 0.83%
$2.57
Litecoin 0.34%
$43.37
Tether 0.07%
$1
Monero 0.48%
$64.71
TRON -0.13%
$0.02
IOTA 0.75%
$0.24
Binance Coin 0.5%
$16.68
Dash 0.35%
$70.08
Neo 0.87%
$10.55
Zcash 0.64%
$55.05
Tezos 0.66%
$2.52

Verizon Just Won a Patent to Create Virtual SIMs on a Blockchain

Verizon

Telecommunications giant Verizon uses blockchain technology to support the dynamic generation of virtual SIM cards.

CME announced that the launch of the Bitcoin option announced on Friday. It is aimed at providing customers with an “additional tool for accurate hedging and trading”.

This patent describes how to replace a physical SIM card with software SIMS (vSIM) protected by blockchain-based encryption.

Devices on the mobile network select user accounts and network services associated with the account to store multiple vSIMs.

The network device then creates a blockchain record that includes the vSIM certificate for the network service. The IMSI (International Mobile Subscriber Identity) to uniquely identify all users on the cellular network. The vSIM certificate can then be connected to the user’s account and activated on the client mobile device.

Participating nodes in the “Distributed Consensus Network” maintain a list of records where Verizon calls the vSIM blockchain. This protects against malicious operations by storing timestamped transactions in an encrypted security block. The vSIM blockchain records are stored in a hash tree structure for efficiency. Based on patents, the blocks are in a “not corrupted / unmodified” state.

BlockChain

In particular, vSIM is associated with a user account and can be assigned to one of several mobile devices and transferred between devices. Verizon also says it can be temporarily assigned to other users.

When all this is backed up, it becomes the vSIM platform hosted by the mobile application provider and uses many APIs (Application Programming Interface) to store the vSIM user repository.

According to the patent:

” In one implementation, a user can accept a new vSIM certificate for a user account, transfer vSIM between client devices associated with that user’s account, or pass the vSIM certificate to other users . “

For example, it seems to suggest that a company purchases multiple vSIMs and assigns them to an employee, and later reassigns them to other employees using the system.

Verizon previously funded $ 15 million for Filament, a company that develops blockchain hardware for the Internet of Things.