Vodafone, the telecommunications company based in the United Kingdom, is making significant strides in Turkey. Their latest move involves bridging the gap between smartphone users and blockchain technology by integrating crypto wallets with subscriber identity module (SIM) cards.
This decision comes as Vodafone Idea Ltd, an Indian company and a 45% stakeholder in Vodafone Group, is projected to accumulate around $3 billion in debt over the next two years, partially through loans.
David Palmer, a key figure at Vodafone Blockchain, recently appeared on the Yahoo Finance Future Focus program to discuss the company’s plan to incorporate blockchain technology into SIM cards used in smartphones. Palmer predicts that by 2030, there will be approximately eight billion smartphones in use and the number of crypto wallets could reach 5.6 billion.
This figure of 5.6 billion wallets already accounts for about 70% of the current global population, which is a significant number.
Prior to securing a $3 billion loan, Vodafone Idea Ltd conducted a $2.2 billion share sale. Another noteworthy development is the newly formed 10-year strategic partnership between Vodafone and Microsoft, aimed at providing customers with more advanced artificial intelligence (AI) services.
Following this agreement, Microsoft CEO Satya Nadella expressed his belief that the next generation of AI will unlock new opportunities for organizations and industries worldwide.
Amidst all these developments, attention is also being drawn to the price of BTC (Bitcoin), which is currently trading at $63,878, indicating a 1.58% increase.
Disclaimer: The information provided in this article should not be construed as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks, and should conduct thorough research on their own.
