(PRESS RELEASE – Markham, Ontario, January 11, 2024)
The deal includes a strategic investment from Sui to drive the expansion of Karrier One's growing global footprint.
suiIn collaboration with Race one, proudly announces a strategic partnership that marks a significant leap in the integration of advanced telecommunications services with the dynamic capabilities of web3 technology. At the heart of the partnership is the investment Sui is making in Karrier One, which provides funding to help expand its decentralized physical infrastructure (DePIN) technology. This collaboration shows the potential of decentralized technologies to greatly expand access to the digital world and improve connectivity for underserved populations.
The technical integration of this new partnership will include DePIN services powered by the Sui blockchain and the launch of a Karrier One Decentralized Wireless (DeWi) network token on Sui. Additionally, contributors and participants in the Karrier One ecosystem will be able to earn DeWi tokens for various activities such as deploying radios and using mobile devices involving Karrier One phone numbers.
This launch not only introduces a versatile governance token, but also expands the Karrier ecosystem with a wide range of utilities accessed and consumed through fungible tokens and NFTs. For example, as part of the Karrier One rollout, Karrier One will sell universal phone numbers on the network and secure them via nft using the Karrier Number System (KNS), which is reinforced with features that prioritize self-sovereign digital identity, safeguard the user. data and improve digital security.
A key feature of KNS will be the integration of zkLogin, a critical Sui primitive that streamlines user interactions in 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 protected by zero-knowledge proofs. By combining KNS with zkLogin on Sui, the partnership allows end users to transact on web3 using their phone numbers instead of requiring them to manage a native crypto wallet. All Karrier One phone numbers will ship with these integrations as the default option for your phone plan. Users will also be able to transfer their numbers from other operators, allowing them to enjoy the benefits of KNS and zkLogin. For the first time, users will be able to specify an address on the network using a phone number and send and receive digital assets securely and privately via text messages without needing to set up a wallet.
Karrier One, already a leading player in DePIN technology, will use Sui's new investment to augment its offering with a range of new services such as retail radio deployments and innovative mobile phone plans alongside KNS, delivering vital infrastructure to areas unattended. A key aspect of this work involves leveraging Karrier One's advanced radio technology to take advantage of unused wireless spectrum, primarily from large telecommunications companies, which are often reluctant to incur the heavy capital expenditures required to build the infrastructure in certain regions of the US and abroad. As a result, a large portion of the spectrum remains underutilized. Karrier One addresses this gap by monetizing these signals efficiently and effectively to promote sustainable economic growth and inclusive connectivity.
“We are delighted to announce our partnership with the Sui Foundation,” said Samer Bishay, CEO of Karrier One. “This partnership is an important 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 power align perfectly with our mission. Sui has demonstrated its ability to maintain low and predictable gas rates even during massive network usage, ensuring that our users can leverage the full potential of our technology with the prospect of millions of daily on-chain hash transactions and despite the Huge requirements for data storage. “This technology is crucial to the development of our telecommunications applications, which require fast, scalable, high-volume handling of transactions in the nine- and ten-figure range.”
Greg Siourunis, CEO 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 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 (SDGs), focusing on Quality Education (Goal 4), Industry, Innovation and Infrastructure (Goal 9) and Cities and Sustainable Communities (Goal 11). . In particular, Karrier One's presence at the COP 28 conference in Dubai in late 2023 was an opportunity to showcase its innovative solutions and strategies that align with global sustainability efforts. This appearance not only underlined 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 social and environmental improvement. It is expected to accelerate the deployment of DeWi solutions, making a substantial contribution to global efforts for a sustainable, inclusive and connected future.
Contact
Sui Foundation
[email protected]
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