Tuesday, 23 July 2024

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DePIN and DeWi Come to Sui in Groundbreaking Karrier One Partnership, Upcoming Token Launch

DePIN and DeWi Come to Sui in Groundbreaking Karrier One Partnership, Upcoming Token Launch

Markham, Ontario, January 11th, 2024, Chainwire

The deal includes strategic investment from Sui to fuel the expansion of Karrier One’s growing global footprint

Sui, in collaboration with Karrier One, proudly announces a strategic partnership that marks a significant leap in integrating advanced telecom services with the dynamic capabilities of web3 technology. At the heart of the partnership is the investment that Sui is making in Karrier One, which provides funding to help expand its Decentralized Physical Infrastructure (DePIN) technology. This collaboration showcases the potential for decentralized technologies to vastly expand access to the digital world and enhance connectivity for underserved populations.

The technical integration of this new partnership will feature DePIN services powered by the Sui blockchain and the launch of a Karrier One Decentralized Wireless (DeWi) network token on Sui. In addition, contributors to and participants in the Karrier One ecosystem will be able to earn DeWi tokens for various activities such as deploying radios and mobile usage involving Karrier One phone numbers.

This launch not only introduces a versatile governance token but also expands the Karrier ecosystem with a diverse array of utilities accessed and consumed via fungible tokens and NFTs. For example, as part of Karrier One’s implementation, universal phone numbers will be sold by Karrier One on the network and secured by NFTs using the Karrier Number System (KNS) which is fortified with features that prioritize self-sovereign digital identity, safeguard user data and enhance digital security.

A key feature of the KNS will be the integration of zkLogin, a fundamental Sui primitive that streamlines user interactions on Sui by enabling web3 authentication with familiar web2 credentials. For example, with zkLogin, users can log in with Google or Facebook to generate a self-custodial wallet secured by zero-knowledge proofs.

By combining KNS with zkLogin on Sui, the partnership enables end users to transact in web3 using their telephone numbers instead of requiring them to manage a crypto native wallet. All Karrier One phone numbers will be distributed with these integrations as a default option of its phone plan. Users will also be able to transfer their numbers from other carriers, allowing them to enjoy the benefits of KNS and…

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