Spanish Telecom Giant Telefónica And IBM Blockchain Partner For Phone Call Traffic Project
Spanish Telecom Giants Telefónica Partners With IBM On A Blockchain Project
Telefónica, a Spanish multinational telecommunications company which is the seventh-largest telephone operating company by total revenue ($74.4 B USD) has recently partnered with IBM to utilize blockchain technology to manage international mobile phone call traffic.
The project determines in real time the integrity and traceability of the information created by the various networks of the operators when they route an international call. This is because of a decentralized platform to which all the operators that mediate in the process have access. As a result, dishonest practices and inconsistencies between the data recorded by each operator are significantly lessened.
Chief Innovation Officer of Telefónica, Gonzalo Martín-Villa says:
“This project is one of our first initiatives to secure real benefits from the adoption of blockchain in our core business. We believe that the new paradigm of process decentralization that blockchain facilitates perfectly fits with the telecommunications industry and can help us to significantly improve the way we have been traditionally solving the integrations between partners.”
Ignacio Martín Santos, Managing Director for Telefónica Integrated Account in IBM, said that project has the goal of improving support among the various partners in the communications ecosystem, bypassing the need for call data reconciliation and thus achieving high potential benefits like reduced risk, time-saving and cost removal.
IBM unites the prevalent blockchain drive to the ease of use of the IBM Blockchain Platform and the open nature of the Linux Foundation’s Hyperledger Fabric blockchain framework, coupled with the deep industry expertise of the organization. IBM’s Blockchain Starter Plan on IBM Cloud is also serving developers, startups and enterprises build blockchain proofs-of-concept swiftly and affordably with an end-to-end blockchain development experience.