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Chainlink Partnership To Enable Smart Contract Interactions With Telecom Networks Chainlink Partnership To Enable Smart Contract Interactions With Telecom Networks

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Chainlink Partnership To Enable Smart Contract Interactions With Telecom Networks – Crypto News

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Chainlink Labs will enable Polygon-based smart contracts to query Telefonica’s mobile operators.

Chainlink Labs has teamed up with Telefonica, a Spain-based multinational telecommunications firm, to facilitate Polygon-based smart contract interactions with its telecom networks.

The partnership was announced on Feb. 14, allowing Polygon-based smart contracts to query information from Telefonica and its subsidiaries via the Global System for Mobile Communications (GSMA) Open Gateway APIs.

“Our collaboration with Telefónica on the Open Gateway initiative extends the ways in which the industry-standard Chainlink platform underpins security across the blockchain ecosystem,” said Johann Eid, chief business officer at Chainlink Labs. “Bringing Telefónica’s Open Gateway APIs on-chain with Chainlink Functions unlocks novel use cases and greater security for our industry.”

GSMA Open Gateway comprises a suite of standardized telecommunications AIPs designed to expand the functionality of mobile networks, including integrations with web3. Telefonica said the APIs facilitate secure account creation, advanced fraud detection, and enhanced privacy.

Telefonica’s Brazilian subsidiary will be the first telecoms company to commercialize the integration. The company will leverage the GSMA Sim Swap API to protect against fraud, particularly SIM-swaps and similar “takeover attacks.”

The GSMA Open Gateway initiative was rolled out by leading mobile operators in Spain on Feb. 6, with Telefonica, Vodafone, and Orange supporting two of the eight APIs. GSMA said 39 telecommunications operators spanning 228 mobile networks currently support the APIs globally, including Amazon Web Services, Microsoft Azure, and Nokia.

“This collaboration marks a significant step in integrating telco capabilities into the blockchain industry and demonstrates the need for secure oracle networks to deliver real-world data on-chain,” Telefonica said. “This interconnected ecosystem enhances the functionality and security of Web3 applications, contributing to a more robust and verifiable digital landscape.”

GSMA is an industry association and lobby organization representing more than 1,000 mobile operators worldwide.

The rise of DePIN

The news comes amid increasing buzz surrounding web3’s nascent Decentralized Physical Infrastructure Networks (DePIN) sector.

Examples include the recent success of Helium’s mobile services — including Telefonica teaming up with the project to launch Helium mobile hotspots in Mexico last month, mapping networks like Hivemapper and DIMO, energy networks like React or Energy Web, and decentralized cloud computing projects like Filecoin.

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Last month, Messari estimated the addressable market cap for DePIN projects is $2.2T, with the potential to rise to $3.5T by 2028.

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