Vodacom and MTN Explore Blockchain Technology
Vodacom and MTN are testing blockchain technology in efforts to understand how it can be implemented to improve processes such as number porting and inter- carrier settlements.
With the interest in Blockchain growing across industries, it is not a surprise that the telecom sector is exploring it as well.
An unnamed MTN spokesperson said that the company was studying how blockchain technology can be used to automate roaming transactions through smart contracts to make number porting easier and efficient and to automate inter-carrier settlements.
Delta Partners, the advisory firm said that blockchain technology can possibly replace the expensive mediation of clearing houses among telecom operators. Delta Partners also said that telecom providers should work with each other on developing this technology and should test it by conducting inter-carrier trials.
Through this technology, operators can access centralized databases so that customers can instantly port their numbers from one service provider to the other.
A Vodacom spokesperson said that to be successful, the implementation of this technology will require coordination of various parties. The person said,
We believe that this will be more challenging than deploying the underlying technology itself. We will continue to evaluate relevant projects and opportunities … especially as the technology matures.
Craig Nel, an Oracle executive said that blockchain was now “top of the most widely discussed and hyped technologies in recent times”. According to him, this technology has the opportunity of providing new revenue streams to users such as identity-as-a-service or verification services. He said,
At the moment, every time a person wants to sign up at a vendor, they need to prove their identity and credentials using physical or digital documents. A blockchain can be used as the shared ledger that stores identity transactions.
Even Danny Allen, the Vice President of product strategy at veeam suggested other uses of blockchain technology such as data usage tracking, call tracking and location tracking.
Just as blockchain is expected to be the revolution in other industries, the same is expected in the telecom industry as well.
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