Chainlink Labs will allow Polygon-based good contracts to question Telefonica’s cellular operators.
Chainlink Labs has teamed up with Telefonica, a Spain-based multinational telecommunications agency, to facilitate Polygon-based good contract interactions with its telecom networks.
The partnership was introduced on Feb. 14, permitting Polygon-based good contracts to question data from Telefonica and its subsidiaries by way of the World System for Cell Communications (GSMA) Open Gateway APIs.
“Our collaboration with Telefónica on the Open Gateway initiative extends the methods through which the industry-standard Chainlink platform underpins safety throughout the blockchain ecosystem,” stated Johann Eid, chief enterprise officer at Chainlink Labs. “Bringing Telefónica’s Open Gateway APIs on-chain with Chainlink Features unlocks novel use instances and higher safety for our {industry}.”
GSMA Open Gateway includes a set of standardized telecommunications AIPs designed to develop the performance of cellular networks, together with integrations with web3. Telefonica stated 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 in opposition to fraud, notably SIM-swaps and comparable “takeover assaults.”
The GSMA Open Gateway initiative was rolled out by main cellular operators in Spain on Feb. 6, with Telefonica, Vodafone, and Orange supporting two of the eight APIs. GSMA stated 39 telecommunications operators spanning 228 cellular networks presently help the APIs globally, together with Amazon Net Companies, Microsoft Azure, and Nokia.
“This collaboration marks a major step in integrating telco capabilities into the blockchain {industry} and demonstrates the necessity for safe oracle networks to ship real-world information on-chain,” Telefonica stated. “This interconnected ecosystem enhances the performance and safety of Web3 functions, contributing to a extra sturdy and verifiable digital panorama.”
GSMA is an {industry} affiliation and foyer group representing greater than 1,000 cellular operators worldwide.
The rise of DePIN
The information comes amid growing buzz surrounding web3’s nascent Decentralized Bodily Infrastructure Networks (DePIN) sector.
Examples embrace the latest success of Helium’s cellular companies — together with Telefonica teaming up with the venture to launch Helium cellular hotspots in Mexico final month, mapping networks like Hivemapper and DIMO, vitality networks like React or Power 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.
