Vodafone Leads the Revolution: Crypto Wallet in SIM Card and $1.8 Billion for Development

According to Vodafone's head of blockchain, David Palmer, it is expected that by 2030 there will be up to 20 billion mobile devices in use worldwide, of which about 8 billion will be smartphones. With the number of crypto wallets projected to grow to 5.5 billion over the next six years, integrating SIM cards with digital identity via blockchain is not only a logical, but also a promising step for the telecommunications giant.

"We are focused on associating SIM cards with digital identities and integrating them with the blockchain. After that, we will start using the cryptography available in these SIM cards to further integrate [the wallet]," a Vodafone spokesperson shared.

The ambitious plan follows news that the company is seeking a massive $1.8 billion loan over the next two years. According to Bloomberg, these funds will be used for the restructuring and further development of Vodafone, which is trying to reconsider its activities and reduce losses, considering blockchain technology as one of the promising areas.

In addition, Vodafone has shown interest in the artificial intelligence sector, having entered into a ten-year agreement with Microsoft to scale the business and improve customer service using generative artificial intelligence.

These strategic decisions allow Vodafone not only to remain at the forefront of technological progress, but also to strengthen its position in the telecommunications industry, creating innovative products and services for millions of users around the world.