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Chainlink Labs will allow Polygon-based sensible contracts to question Telefonica’s cell operators.
Chainlink Labs has teamed up with Telefonica, a Spain-based multinational telecommunications agency, to facilitate Polygon-based sensible contract interactions with its telecom networks.
The partnership was introduced on Feb. 14, permitting Polygon-based sensible contracts to question data from Telefonica and its subsidiaries by way of the International System for Cell Communications (GSMA) Open Gateway APIs.
“Our collaboration with Telefónica on the Open Gateway initiative extends the methods wherein the industry-standard Chainlink platform underpins safety throughout the blockchain ecosystem,” mentioned Johann Eid, chief enterprise officer at Chainlink Labs. “Bringing Telefónica’s Open Gateway APIs on-chain with Chainlink Features unlocks novel use instances and better safety for our {industry}.”
GSMA Open Gateway includes a set of standardized telecommunications AIPs designed to develop the performance of cell networks, together with integrations with web3. Telefonica mentioned the APIs facilitate safe account creation, superior fraud detection, and enhanced privateness.
Telefonica’s Brazilian subsidiary would be the first telecoms firm to commercialize the mixing. The corporate will leverage the GSMA Sim Swap API to guard towards fraud, significantly SIM-swaps and related “takeover assaults.”
The GSMA Open Gateway initiative was rolled out by main cell operators in Spain on Feb. 6, with Telefonica, Vodafone, and Orange supporting two of the eight APIs. GSMA mentioned 39 telecommunications operators spanning 228 cell networks at present help the APIs globally, together with Amazon Net Companies, Microsoft Azure, and Nokia.
“This collaboration marks a big step in integrating telco capabilities into the blockchain {industry} and demonstrates the necessity for safe oracle networks to ship real-world knowledge on-chain,” Telefonica mentioned. “This interconnected ecosystem enhances the performance and safety of Web3 purposes, contributing to a extra sturdy and verifiable digital panorama.”
GSMA is an {industry} affiliation and foyer group representing greater than 1,000 cell operators worldwide.
The rise of DePIN
The information comes amid rising buzz surrounding web3’s nascent Decentralized Bodily Infrastructure Networks (DePIN) sector.
Examples embody the latest success of Helium’s cell providers — together with Telefonica teaming up with the undertaking to launch Helium cell hotspots in Mexico final month, mapping networks like Hivemapper and DIMO, power networks like React or Vitality Net, and decentralized cloud computing tasks like Filecoin.
Final month, Messari estimated the addressable market cap for DePIN tasks is $2.2T, with the potential to rise to $3.5T by 2028.
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