Vodafone hopes to integrate cryptocurrency wallets and blockchain technology into mobile SIM cards.

According to a report by Cointelegraph, UK telecommunications provider Vodafone aims to bring blockchain technology to smartphone users by integrating cryptocurrency wallets with Subscriber Identity Module (SIM) cards.

In a recent interview with Yahoo Finance's Future Focus program, David Palmer, Head of Blockchain at Vodafone, discussed the company's plans to integrate blockchain technology into smart phone SIM cards:

We are focusing on linking the SIM card with digital identities, connecting the SIM card to the blockchain, and integrating these encryption technologies into the SIM card.

Palmer expects that by 2023 there will be 8 billion smartphones, and by 2030 the number of encrypted wallets will soar to 5.6 billion, accounting for nearly 70% of the global population. He emphasized that the platform can facilitate seamless transactions between public blockchains like Ethereum and private blockchains, as well as provide decentralized digital identities for Internet of Things devices.

Earlier this year, Vodafone entered into a 10-year strategic partnership with Microsoft, with Vodafone investing $1.5 billion over the next decade in cloud and customer-centric AI services developed with Microsoft, who will leverage Vodafone's fixed and mobile communication services.

Following the announcement of this deal, Microsoft CEO Satya Nadella also seized the opportunity to extol the disruptive potential of his company's AI technology, claiming that the next generation of AI will bring significant new opportunities for every organization and industry globally.