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The standard is called eSIM, and it is in at least one phone.

https://www.theverge.com/2017/10/4/16424740/google-pixel-2-x...

Yes, this will be the future. I believe the latest iPad Pro models have a virtual Apple SIM embedded. The Apple Watch Series 3 also has a virtual SIM. They will eventually appear in phones as well.

Google already does it with Project Fi + Pixel.

https://www.androidcentral.com/using-project-fi-pixel-2s-esi...

I came here to say this. I bought a Pixel 2 XL for my wife last year and there was an option to use SIM-less with Project Fi. I was confused at first and went with it, and it worked. Then I just stored the old SIM. To be honest I don't quite remember how was the process but I remember it was pretty easy to setup.