T-Mobile owner will be mining Bitcoin in addition to web3 efforts to stop SIM swaps
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Near the height of the previous blockchain craze, T-Mobile and its parent company Deutsche Telecom launched a competition over the best Public Blockchain Protocol solutions for web3.
The six award-winners were to give solutions how to "leverage the power of 5G to bring Web3 to life, with 5G playing a significant role in how users stay connected to these innovations," and split $100,000 each.
T-Mobile's web3 efforts brought along some neat suggestions for how to decentralize carrier subscriber identification with blockchain tools to avoid the proliferation of the so-called SIM swap or port-out fraud that included the emptying of people's crypto wallets. Now, Deutsche Telecom, T-Mobile's owner, announced that it will begin actively mining Bitcoin.
While saying that T-Mobile has been running Bitcoin and Lightning network nodes for a good while now, Dirk Röder, the head of web3 infrastructure and solutions at T-Mobile, also added that "we will engage in digital monetary photosynthesis soon." Asked what does that mean, he then confirmed that T-Mobile will start Bitcoin mining.
T-Mobile Deutsche Telekom are running Bitcoin nodes, Lightning nodes and will start mining #bitcoin
— Daniel Sempere Pico (@BTCGandalf) June 14, 2024
WHAT A TIME TO BE ALIVE. pic.twitter.com/r7rihAinXt
While having a multibillion industry giant on their side is certain to please the cryptocurrency community as a whole, smaller and independent Bitcoin miners might be a bit miffed that the big guys are encroaching on their turf, even under the guise of adopting and popularizing blockchain technologies.
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