The telecom company is reportedly seeking $1.8 billion in loans amid a plan to raise a total of $2.9 billion in debt
Vodafone, a United Kingdom-based telecommunications provider, hopes to bring blockchain technology to smartphone users by integrating cryptocurrency wallets with subscriber identity module (SIM) cards.
The ambitious move comes amid a company finance plan that reportedly involves Vodafone Idea Ltd., a separate entity operating in India that Vodafone Group carries a 45% stake in, taking on nearly $3 billion in debt including $1.8 billion in loans over the next two years.
In a recent interview with Yahoo Finance Future Focus, Vodafone Blockchain Lead David Palmer discussed the company’s plans to integrate blockchain technology into smartphone sim cards: