The eSIM is having a transformative effect both for traditional smartphone services in the roaming context, and for the IoT. This has left telcos struggling to keep up not so much with the technology itself but the rapidly shifting sands of their business and service models. There is great opportunity, which some are grasping, but also great risk of being reduced to the competitive margins, as often happens when a disruptive technological change comes along. In this context, we consider all the changes currently on the table as the long-standing traditional physical SIM is rapidly disappearing from view altogether – after several generations of shrinking. The GSMA, as the telcos’ representative body, initially led the running – by defining what…