Blockchain in Telecom Industry
Blockchain is a shared ledger, replicated across stakeholders in the network, that maintains complete history of all transactions between two or more parties. Its value proposition lies in the security, transparency, and control it provides across the ecosystem at every point of a transaction and the opportunity to reduce intermediaries.
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The telecommunications value chain consists of providing the necessary network infrastructure and connectivity for voice, data, media and other related services. There is data exchange between networks that call for data security, data integrity, data inspection, and prevention of fraud.

Core operations like Operation Support System (OSS) and Business Support System (BSS) processes consist of partner management, enterprise management and customer management to address contracts, settlement  etc. Blockchain can help simplify the processes of new business models, make them secure, transparent and efficient and find new revenue streams through digital bundle value propositions.

Bitcoin was the first blockchain technology and today there are varied technologies, just to mention a few – Hyperledger, Ethereum, Ripple, Multichain, Sawtooth, Corda, and specific domain solutions. While there are multiple choices, blockchain technologies are in different maturity stages and are constantly evolving, it is important to select the right technology in context of the use case in hand.

Companies can automate agreement documents into Smart Contracts through programmable blockchain solutions and provide real time access to all the stakeholders. In current roaming partner settlements, processes take a month and issue resolution timelines go up to two months but, with blockchain, the process gets simplified with real time views helping in faster issue identification, resolutions, and reduced disputes.

Sharing any Identity reference documents e.g., passport or driving license with relevant parties based on the individual’s consent is key to simplifying the process of KYC document verification in any industry or enterprise. Blockchain allows de-centralised storage of these reference documents with control remaining completely with the individual.

Multiple business transactions are efficiently carried out in a consortium model, where-in stakeholders have common interest and come together to be part of the blockchain network, e.g., Trade Finance, KYC, etc. Blockchain can play a key role in bringing all the stakeholders together.