NEM, one of many oldest peer-to-peer blockchain networks, has partnered with Israeli-Lithuanian telecom startup FIX Network to extend safety and knowledge safety for cellphone customers and to unravel the difficulty of SIM swapping.
FIX Network will implement SYMBOL from NEM’s enterprise-grade blockchain into its current mobile infrastructure. The purpose is to safe the world’s eight billion SIM playing cards from cybercriminals with new privateness, safety, administration and security options.
Phone numbers might find yourself extra vital than social safety numbers
FIX Network’s structure is designed to permit cell operators to ship providers akin to digital identification administration, cryptocurrency wallets, and private knowledge firewalls to cell subscribers, enabled by the safekeeping of personal keys on the subscribers’ SIM playing cards.
The first product would be the FIX ID app, which securely identifies members by way of subscriber-owned international cellphone numbers that function distinctive digital identities. The preliminary consignment of 10,000 FIX Secure ID SIMs, pre-ordered in June 2019, is anticipated to ship by the top of April this 12 months.
FIX Network has launched its personal international cell service that gives roaming agreements in 186 international locations.
Nate D’Amico, CTO of NEM Foundation mentioned that, “FIX Network takes established infrastructure – the worldwide cellular network – and uses it to create a better, fairer, and safer way to transact.”
Itamar Kunik, the CEO of FIX Network added:
“The enterprise nature of Symbol and the native features inherent in its platform are fundamental to the steady adoption and implementation of the FIX Network solution by the telecommunications industry.”