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

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 zkLogin. For the first time ever, users will be able to specify an address on the network using a phone number and securely and privately send and receive digital assets via text message with no wallet setup required.

Already a leading player in DePIN technology, Karrier One will utilize the new investment from Sui to augment its offerings with an array of new services, such as retail radio deployments and innovative mobile phone plans along with KNS, delivering vital infrastructure to underserved areas. A pivotal aspect of this work involves leveraging Karrier One’s advanced radio technology to tap into unused wireless spectrum, primarily from large telecom companies, which are often reluctant to incur the hefty capital expenditures required to build the infrastructure in certain regions of the US and abroad. As a result, a vast portion of the spectrum is left under-utilized. Karrier One addresses this gap by monetizing these signals efficiently and effectively to promote sustainable economic growth and inclusive connectivity.

“We are thrilled to announce our partnership with the Sui Foundation,” stated Samer Bishay, CEO of Karrier One. “This partnership is a major step towards expanding our influence and reach in telecommunications. Our goal has always been to ensure that connectivity is universally accessible, affordable, and sustainable. Sui’s parallelized transactions, efficient on-chain data storage capabilities and superior processing capacity align perfectly with our mission. Sui has demonstrated its ability to maintain gas fees that are low and predictable even during massive use of the network, ensuring that our users can leverage the full potential of our technology with the prospect of millions of daily hashed transactions on-chain and despite the vast requirements for data storage. This technology is crucial for our telecom application buildouts, which demand rapid, scalable, high-volume transaction handling in the nine and ten-figure range.”

Greg Siourounis, Managing Director of the Sui Foundation, commented, “Our collaboration with Karrier One demonstrates our commitment to using decentralized technologies to build a more inclusive and interconnected future. More than just an alignment of goals and values, our partnership combines two superior technologies to advance decentralized telecommunications. By developing the DePIN network on Sui, Karrier One is leveraging network scalability, security, and efficiency unmatched by existing platforms and moving us forward towards a future where this technology is a catalyst for positive change.”

This partnership also represents the teams’ shared commitment to the United Nations Sustainable Development Goals (UN SDGs), focusing on Quality Education (Goal 4), Industry, Innovation, and Infrastructure (Goal 9), and Sustainable Cities and Communities (Goal 11). In particular, Karrier One’s presence at the COP 28 conference in Dubai at the end of 2023 was an opportunity to showcase its innovative solutions and strategies that align with global sustainability efforts. This appearance not only underscored Karrier One’s dedication to sustainable practices but also highlighted its growing influence in the UAE and on the global stage.

The partnership between Karrier One and Sui embodies their united vision of leveraging decentralized technology for societal and environmental betterment. It is expected to accelerate the deployment of DeWi solutions, making a substantial contribution to worldwide efforts for a sustainable, inclusive, and connected future.

Disclaimer: The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute investment advice or an offer to invest. 

  • Read this next

    Inside View, Uncategorized

    Why retail brokers are launching prime services

    Insights are provided by leading industry experts, including Elina Pedersen, Co-CEO & CRO of Your Bourse; Andrew Saks, Chief Product Officer at TraderEvolution; Natalia Zakharova, Head of Business Development at FXOpen; and Jay Mawji, CEO of Infinox.

    Institutional FX

    Cboe to launch MSCI-based options and volatility indices

    “We are excited to expand our Cboe-MSCI toolkit with additional index options and volatility indices – an enhancement that will not only broaden our customers’ product choice, but also enrich the ways they interact with and analyze the global markets.”

    Fintech

    Traxys taps Quantifi for risk management in commodities trading

    “We wanted to take a more sophisticated approach to risk management and have a consolidated view of risk exposures across our global operating model. Quantifi was our preferred choice as it has a track record of success in the commodities markets.”

    Digital Assets

    Startale Labs Secures Funding for Web3 Expansion

    Startale Labs, a leader in Japan’s Web3 development, including Astar Network and Startale Web3 Cloud, has raised an additional $3.5m from UOB Venture Management and Samsung Next. This seed extension round boosts their total seed funding to $7m, following a $3.5m investment from Sony Network Communications in June 2023.

    Retail FX

    XS.com acquires South African broker Ubutyebi Financial Services

    XS.com, the multi-regulated financial services provider, has made a strategic move to expand its presence in Africa by acquiring Ubutyebi Financial Services, a licensed Financial Service Provider (FSP) in South Africa regulated by the Financial Sector Conduct Authority (FSCA).

    Digital Assets

    Hong Kong advances legislation on stablecoins and crypto trading

    Hong Kong is moving forward with legislation to regulate stablecoins and crypto over-the-counter (OTC) trading in the latest effort to develop a legal framework to service the city’s digital-asset industry.

    Digital Assets

    Do Kwon to be extradited to US as South Korea request overturned

    Terraform Labs co-founder Do Kwon is set to be extradited to the United States to face fraud charges related to massive losses suffered by U.S. investors due to its algorithmic stablecoin collapse.

    Retail FX

    Prop firm Instant Funding pauses US accounts, citing ThinkMarkets ban

    Proprietary trading firm Instant Funding has become the latest retail platform to halt onboarding new US clients, citing a recent decision by their partner broker, ThinkMarkets.

    Retail FX

    Funded Trader and Alpha Capital switch to cTrader, Lark Funding to DXTrade

    Proprietary trading firms Lark Funding and Alpha Capital have both announced changes to their operations that mainly affect their business with US clients.

    <