Blockchain Implications In Telecom Industry
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Blockchain Implications in Telecom Industry

 
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Technical Content Writer

Blockchain, being a revolutionary technology can be leveraged in distinct sectors to inculcate the transparency and trust and can increase processes efficiency. It is the most generally talking about innovation in the present day situation among various businesses, which are endeavoring to outfit its potential.

It is nonetheless to say that it is the best time for the decision makers and strategists of the telecom industry to evaluate the diverse technological applications to apply it in distinct functions. The early adoption will help them acquire early mover advantage in the market.

Features for the popularity of Blockchain Technology include:

•          Distributed and Decentralized ledger

•          Trustless Operability

•          Auditable, irreversible, and Immutable records nature

•          Diminished or no room for third-party intermediaries

•          Secured regarding Cryptography

•          Time-stamped and Chronological

Opportunities and Challenges

The Communication Service Providers control the end-to-end value chain (CSPs), i.e., network infrastructure, data connectivity, and other related customer services, for both businesses and users. These days, it is essential to find new revenue sources and high bandwidth.

The blockchain is capable of impacting the CSPs core management system by developing an environment with reduced cost and increased revenue with efficiency. Here is the list of some Blockchain cases in the telecom sector, capable of producing new products and streamline internal functions.

•          Data management

•          Fraud Management

•          5G Enablement

•          Instantaneous Connectivity and Transaction

•          IoT connectivity

•          Identity Management

•          Roaming

Internet of Things

In the present scenario, the telecoms are facing issues related to viability and security while implementing IoT and this can be easily overcome by reinforcing IoT with Blockchain technology to facilitate a secure environment of peer-to-peer self-managed mesh networks through distinct nodes. These can function using single IoT sensors which are coupled and sponsored by authenticating every block within the blockchain. If viable proven, a public network based on Bitcoin network can be implemented for the customers to provide secure connectivity seamlessly.

Identity Management

It is essential for any user to provide his/her details to distinct service providers in the signing up process for the account and to create passwords. The aspects of form filling to avail numerous services it a tiresome job as well time-consuming. This can be resolved whenever a subscriber is provided with an eSim or an app by the telecoms by creating a unique identity that is encrypted and kept on Blockchain.

Roaming

The virtual networks are providing SIM cards presently to connect distinct telecom networks and add up prices automatically in the process of connection between various machines which leads to roaming price.

Here, the technology of Blockchain can be implemented to allow the telecoms enter into micro-contact for automatically roaming services. These kinds of contracts are smart and will enable the telecoms for triggering the agreements of roaming between subscribers to switch new networks. It can help to achieve the transparency by tracking the subscriber’s transactions.

Conclusion

The above use cases demonstrate the untapped opportunity that is lying across to tap by the telecom industry. Significant telecoms like Sprint, Telstra, DOCOMO, NTT, and Verizon, etc. have started investing in the Blockchain by collaborating with the companies and to spend funds for development and conduct research.

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