Telecom happens to be one of the most sophisticated industries. Let it be their Operations or Business Support Systems, there is a lot to be changed for making the processes efficient. Moreover, the predictions also make blockchain a dire need for the niche. This is because the industry is expected to grow by about 80% in the next 5 years.
IBM is keen to expand its blockchain reach in a variety of countries and India seems like a decent target as well. The reason being their population is huge and the costs would be low. Plus, the density of users might allow them to test the product in all conditions.
In a statement, IBM’s VP for Research said that the company has done most of the paperwork with its telco partners in India and in the first quarter of 2019, the beta version might go live. He also made it clear that the product would enable more visibility for the telecommunication authorities. Moreover, it will also allow phone number portability (requires at least two companies).
Reviewing IBM’s blockchain-based solution for telcos
You must be aware of the general and mainstream benefits offered by blockchain. However, let’s (specifically) explore how it would revolutionize the telecommunication sector.
Oftentimes, customers file complaints that the company has charged them for a service that they never applied for. If a blockchain solution goes live, all transactions will be made public on an immutable ledger. Since it is a permissioned blockchain, the access to data will be controlled depending on whether you are a vendor, administrator or a consumer.
Telco companies from all around the World are curiously exploring their options. In June, Deutsche Telekom announced its working with SAP o to seek a blockchain solution. The aim was to thwart any cybersecurity event that could lead to data leakage.
Moreover, since the industry is expected to observe a major growth in the next 5 years, scalability would become a concern for many vendors. Therefore, it is crucial to seek scalable and fault-tolerant infrastructures.
This article by Roxana Florea was originally published at BlockchainFlashNews.com: