Sui Partners with Karrier One: A Revolutionary Step for DePIN and DeWi, with Token Launch on the Horizon
On January 11, 2024, in Markham, Ontario, Chainwire
This agreement includes a significant investment from Sui to support the global growth of Karrier One.
Sui , in collaboration with Karrier One We're excited to announce a transformative partnership that merges pioneering telecom services with the innovative possibilities of web3 technology. Central to this collaboration is Sui's investment in Karrier One, which aims to bolster its Decentralized Physical Infrastructure (DePIN) technology. This partnership exemplifies how decentralized innovations can drastically improve access to the digital realm and enhance connectivity for those who have been overlooked.
The technical synergy of this groundbreaking partnership will showcase DePIN solutions powered by the Sui blockchain, as well as the upcoming launch of Karrier One's Decentralized Wireless (DeWi) network token on Sui. Moreover, those involved in the Karrier One ecosystem will have the opportunity to garner DeWi tokens by engaging in various activities, such as setting up radios and utilizing Karrier One's phone services.
This token launch aims to introduce a multifunctional governance token while also diversifying the Karrier ecosystem with an extensive range of utilities, all accessed through fungible tokens and NFTs. A notable aspect of Karrier One’s initiative includes offering universal phone numbers, which will be sold on the network and secured by NFTs using the Karrier Number System (KNS). This system focuses on promoting self-sovereign digital identities, preserving user data, and enhancing overall digital security.
A standout feature of KNS is its integration with zkLogin, a core Sui technology that simplifies user interactions by enabling web3 authentication through familiar web2 credentials. This means users could, for example, log in using Google or Facebook to create a self-custodial wallet that is secured with zero-knowledge proofs. The combination of KNS and zkLogin allows users to participate in web3 transactions using their phone numbers, eliminating the need for traditional crypto wallets. All phone numbers from Karrier One will automatically come with these integrations as part of their service plans, and users will also have the option to port in numbers from other carriers, making it easier to enjoy the benefits of KNS and zkLogin. For the first time, individuals will be able to specify a network address using a phone number, enabling them to send and receive digital assets via text message without requiring a wallet setup.
Karrier One, already a frontrunner in DePIN technology, plans to leverage this new investment from Sui to enhance its services. This includes launching retail radio deployments and innovative mobile plans that incorporate the KNS, which will bring essential infrastructure to underprivileged regions. A crucial part of this initiative involves using Karrier One’s advanced radio technology to tap into unutilized wireless spectrum, primarily from major telecom companies that typically avoid making huge capital investments in certain areas in the U.S. and abroad. This has resulted in a significant portion of the spectrum lying idle. Karrier One is poised to fill this void by efficiently monetizing these signals to foster economic growth and promote inclusive connectivity.
Samer Bishay, the CEO of Karrier One, expressed enthusiasm about the partnership with Sui Foundation, stating, “We are excited to forge this partnership, marking a significant milestone in expanding our telecommunications reach. Our vision has always been to provide universal connectivity that is affordable and sustainable. Sui's capacity for parallel transactions and its efficient data storage capabilities align perfectly with our goals. They have proven they can keep gas fees low and predictable, even during peak network usage, allowing our users to maximize our technology's benefits, particularly with the expectation of millions of daily hashed transactions and substantial data storage needs. This capability is vital for our telecom applications, which require rapid and scalable transaction processing.”
Greg Siourounis, Managing Director of the Sui Foundation, noted, “Our partnership with Karrier One highlights our dedication to leveraging decentralized technologies for a more interconnected and inclusive future. This collaboration is not just about shared goals and principles; it brings together two leading technologies aimed at revolutionizing decentralized telecommunications. By building the DePIN network on Sui, Karrier One is harnessing unmatched scalability, security, and efficiency, setting the stage for a future where this technology can drive meaningful change.”
This collaboration also embodies both teams' commitment to supporting the United Nations Sustainable Development Goals (UN SDGs), particularly focusing on Quality Education (Goal 4), Industry, Innovation, and Infrastructure (Goal 9), and Sustainable Cities and Communities (Goal 11). Karrier One’s participation at the COP 28 conference in Dubai at the end of 2023 presented a unique occasion to showcase its forward-thinking solutions and strategies aligned with global sustainability efforts. This involvement not only reaffirmed Karrier One’s commitment to sustainable practices but also highlighted its expanding influence both in the UAE and on the international stage.
The alliance between Karrier One and Sui represents a shared vision of harnessing decentralized technology to foster societal and environmental improvements. It is anticipated that this partnership will hasten the rollout of DeWi solutions, making a substantial contribution to global initiatives aimed at achieving a sustainable, inclusive, and connected future.
Contact
Sui Foundation
Disclaimer
In line with the Trust Project guidelines Please remember that the information provided here is not meant to be taken as legal, tax, financial, investment, or any other type of advice. It's crucial to invest only what you can afford to lose and to seek independent financial guidance if you have any uncertainties. For additional details, we recommend reviewing the terms and conditions alongside the help and support resources provided by the issuer or advertiser. MetaversePost is dedicated to providing accurate and impartial reporting, although market dynamics may change without notice.