Karrier One, the decentralized wireless network company launched last year and led by Iristel CEO Samer Bishay, announced Thursday a strategic partnership with Sui, a Layer 1 blockchain platform.
Marking “a significant leap in integrating advanced telecom services with the dynamic capabilities of web3 technology,” according to a press release, the partnership includes a strategic investment from Sui that will help Karrier One to expand its Decentralized Physical Infrastructure (DePIN) technology and growing global footprint. The amount of the investment — which is coming from the Sui Foundation, an independent organization dedicated to the advancement and adoption of the Sui network — was not disclosed.
“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,” the release explains.
As part of Karrier One’s implementation, universal phone numbers will be sold on the network and secured by non-fungible tokens (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,” according to the release.
Karrier One says it will use the investment from Sui to add new service offerings, such as retail radio deployments and innovative mobile phone plans along with KNS, “delivering vital infrastructure to underserved areas,” the release says.
“We are thrilled to announce our partnership with the Sui Foundation,” Samer Bishay, CEO of Karrier One, said in the release. “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,” Bishay said. “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.”
“Our collaboration with Karrier One demonstrates our commitment to using decentralized technologies to build a more inclusive and interconnected future,” said Greg Siourounis, managing director of the Sui Foundation. “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.”
