Telecoms Vodacam and MTN are Examining Blockchain Technology Benefits
Vodacom and MTN in an attempt to comprehend how to employ Blockchain Technology to enhance inter-carrier settlements and number porting are engaging in a testing experiment.
It comes as no surprise that the telecom sector is getting involved since interest in Blockchain technology is increasingly aloft in industries.
An MTN source indicated that the telco giant has been scrutinizing how Blockchain technology can be utilized in automation of roaming transactions via Smart Contracts to ensure effortless number porting and effective inter-carrier arrangements.
An advisory firm, Delta Partners has proposed that Blockchain Technology is capable of substituting the costly negotiations of clearing houses concerning telecom operators. The company also urge telcos to collaborate and develop the technology as well as testing through inter-carrier trials.
The technology can avail central databases for customers to spontaneously port their lines from one operator to the other.
A spokesperson for Vodacom maintained that the success of implementing this depends on the involvement of all stakeholders.
“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,” the spokesperson explained further.
An Oracle executive, Craig Nel also hinted Blockchain is at the top of the most extensively discussed and technologies currently. He also said it has the potential to provide new income to the public in terms of identity service verification.
Nel threw light on how at the prevailing circumstance when a person wants to sign up at a merchant, they need to prove their identity and credentials through digital or physical records. However, it is his opinion the Blockchain as an open ledger can be used effectively.
Danny Allen, Vice President of product strategy at Veeam also recommended more application of the Blockchain in telecommunication like data usage tracking, call tracking and location tracking. The Blockchain technology will change the telecom industry just as in other fields