T-Mobile owner will be mining Bitcoin in addition to web3 efforts to stop SIM swaps

2comments
We may earn a commission if you make a purchase from the links on this page.
T-Mobile owner will be mining Bitcoin in addition to Web3 efforts to stop SIM swaps
Near the height of the previous blockchain craze, T-Mobile and its parent company Deutsche Telecom launched a competition over the best Public Blockchain Protocol solutions for web3.

The six award-winners were to give solutions how to "leverage the power of 5G to bring Web3 to life, with 5G playing a significant role in how users stay connected to these innovations," and split $100,000 each.

T-Mobile's web3 efforts brought along some neat suggestions for how to decentralize carrier subscriber identification with blockchain tools to avoid the proliferation of the so-called SIM swap or port-out fraud that included the emptying of people's crypto wallets. Now, Deutsche Telecom, T-Mobile's owner, announced that it will begin actively mining Bitcoin. 

OUR BARGAIN DEAL OF THE DAY:

The Google Pixel 7a gets a massive $200 price cut at Amazon.
While saying that T-Mobile has been running Bitcoin and Lightning network nodes for a good while now, Dirk Röder, the head of web3 infrastructure and solutions at T-Mobile, also added that "we will engage in digital monetary photosynthesis soon." Asked what does that mean, he then confirmed that T-Mobile will start Bitcoin mining.


While having a multibillion industry giant on their side is certain to please the cryptocurrency community as a whole, smaller and independent Bitcoin miners might be a bit miffed that the big guys are encroaching on their turf, even under the guise of adopting and popularizing blockchain technologies.

Recommended Stories

Loading Comments...
FCC OKs Cingular\'s purchase of AT&T Wireless