- Simplified Cryptocurrency Transactions: Users can send or receive cryptocurrency using phone numbers, making the process more accessible and user-friendly.
- Web3 Identity & Authentication: The API enables unique identification in the web3 ecosystem, facilitating user authentication and verification services.
- Tokenization of Physical Assets: Companies can tokenize real-world assets and link them to phone numbers, enabling easier investment and trading of digital assets backed by physical items.
- Customer Loyalty Programs: Businesses can implement loyalty programs where customers earn tokens or rewards linked to their phone numbers.
- Voting & Decentralized Governance: The API can be used in voting systems and decentralized autonomous organizations (DAOs), allowing users to participate in collective decision-making using their phone numbers.
- E-commerce Integration: Online platforms can enable cryptocurrency payments based on phone numbers, streamlining the checkout process.
Blockchain Public Address
API Description
The “Blockchain Public Address” API enables the management of blockchain public addressed (BPA) associated with phone numbers. This API provides three key functionalities:
- Retrieve: Fetch blockchain public address linked to a given phone number.
- Bind: Associate a new blockchain public address with a phone number.
- Unbind: Remove the association between a phone number and a blockchain public address.
The API acts as a bridge between traditional telecommunications identifiers (phone numbers) and the decentralized Identifiers (DIDs) within the web3 ecosystem (blockchain addresses). It simplifies blockchain transactions by allowing users to use familiar phone numbers instead of complex blockchain addresses by eliminating the need for users to manually handle complex blockchain addresses.
Use Cases
Benefits
- Simplified User Experience: Users no longer need to manage or remember complex blockchain addresses. Transactions become as easy as sending a message via phone number.
- Improved Security: Validates phone number ownership, adding an extra layer of security to blockchain transactions implementing strict authentication using 3-legged OAuth tokens.
- Privacy-Focused: Respects user consent and data privacy, aligning with modern data protection regulations.
- Interoperability Across Telcos & Web3 Ecosystem: Promotes standardization across different telecom operators (MNOs) and blockchain platforms, facilitating wider integration and usage.
- New Revenue Streams: Opens opportunities for telecom operators to participate in the growing web3 ecosystem.
API Portfolio: Payments and Charging
SubProject Wiki: N/a, Independent Sandbox, See API Wiki
(incl. how to meet the team)
API Wiki: Blockchain Public Address
API Repository: Blockchain Public Address
API Repository Status: Sandbox
API Status: Release candidate
API Version(s) and Release Date(s):
- v0.1.0 – (Oct 6, 2023), Initial baseline contribution
API availability: Information which APIs are available in which country and network, and how to get access can be found on the GSMA public launch status page.