Telefónica and Chainlink Partner to Enhance Blockchain Security

The collaboration introduces a novel approach to combat SIM swapping, leveraging GSMA Open Gateway's SIM SWAP API and Chainlink Functions.

Telefónica and Chainlink collaborate to combat SIM swapping by integrating GSMA Open Gateway's SIM SWAP API with Chainlink Functions.
The partnership aims to enhance blockchain transaction security by allowing smart contracts to verify if a SIM card has been tampered with.
Telefónica to implement the first use case of this security measure in Brazil, showcasing its role as a Web3 enabler.
The initiative addresses broader security concerns, including two-factor authentication and fraud detection in Web3 applications.
High-profile incidents of SIM swapping have targeted individuals and organizations, including Ethereum co-founder Vitalik Buterin and the SEC's Twitter account.