[PRESS RELEASE – Markham, Ontario, January 11th, 2024] 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
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[PRESS RELEASE – Markham, Ontario, January 11th, 2024]
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.
Contact
Sui Foundation
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