Author: Jagdish Kumar, India
In order to implement Blockchain technology, Tata Communications along with CBCcom, PCCW Global, Sparkle, Clear Blockchain Technologies and Cataworx have join hands to create a Proof of Concept (PoC) designed to show how telecom companies can introduce next-generation services such as IoT, VR and cloud in record speed with the help of Blockchain technology.
In a statement released on 21 August 2018, the company the PoC will be demonstrated at the MEF18 global networking event to be held in Los Angeles, California between 29 to 31 October 2018.
Under this, the bandwidth-on-demand PoC will demonstrate the power and viability of a synchronized and decentralized global supply chain for inter-carrier bandwidth-on-demand services. Because of this, carriers can automatically discover, quote, deliver and settle multi-product, multi-party services, eliminating reliance on a centralized intermediating party, the statement added.
Speaking on this, Tata Communications’ Vice President, Global Technology, Network and Operations Group Matthew Ma said, “Being involved in this latest proof-of-concept is a step forward in demonstrating the potential value that Blockchain can deliver by improving the ways in which we interoperate in the context of next generation services and ultimately the end-user experience.”
The consortium also said that though certain carriers and mobile operators have already developed capabilities for delivering on-demand services on their own network and infrastructure, inter-carrier operations are currently still managed manually as the Business Support System (BSS) and Operations support systems (OSS) systems are not geared to offer automation of inter-carrier operations.
By adopting a Blockchain technology, telecommunication companies can solve the issues being faced on the operational side as well as on the commercial side.
The consortium will be using Clear Blockchain Technologies’ state-of-the-art enterprise-grade blockchain technologies and programmable smart contracts. By using this, companies can reduces costs, inefficiencies and fraud, while maintaining the confidentiality of contract and trade details.
Working with industry consortia, these networks enable the commercialization of new revenue-generating products and business models, accelerating exponential growth by cutting out bureaucracy and unneeded middlemen, the consortium underlined.
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