Wanchain Joins Telefónica, One of the World’s Largest Telephone Operators

Eleven Paths, a subsidiary of Telefónica, has tapped Wanchain in an effort to build a secure blockchain platform for the mobile generation. Rivetz is a security company which works extensively in the blockchain space and also plays an important role in the new effort. Wanchain is an Ethereum fork which specializes in cross-chain compatibility.

With Wanchain, users can hold both Bitcoin and Ethereum. In an exclusive talk with Wanchain’s Dan Reecer, CCN learned that its interchain operability is what sets Wanchain apart in the eyes of the communications giant Telefonica’s cybersecurity division.

At a minimum, the companies intend to leverage blockchain security and deliver a frictionless experience to existing Telefónica subscribers.

On the one hand, a wallet solution for both traditional and crypto assets seems obvious – in the same vein as Apple or Android Pay. The phone is nearly as ubiquitous as cash and cards these days. Blockchain solutions can be far more secure than traditional near-field communications options. At the same time, CCN was told that Wanchain envisions other use-cases for this integration, such as transferable rewards programs and non-fungible token support. (Think digital forms of identification.)