Blockchain In Telecommunication
This week the crypto-sphere has been awash with talk about Samsung and its next generation flagship phone coming loaded with crypto goodies. While the company itself has dismissed the story according to reports, rivals are shipping out products that will no doubt keep Samsung on its toes.
The Telecom Regulatory Authority of India (TRAI) has completed blockchain pilots with tech giant IBM to improve mobile data records. The trials were reported today, Dec. 12, by local English-language, Indian daily newspaper The Economic Times.
The TRAI, India’s telecom regulator, along with major telecom providers, have completed tests with tech firms such as IBM in order to explore blockchain’s benefits in improving mobile network systems such as mobile number portability (MNP) and the Do Not Call Registry (DNC).
UNLOCK met and interviewed. Mr. Riyadh Muawad, Vice President – B2B Sales & Business Development for Government & Large Corporate Accounts, at Saudi Telecom Company at GITEX 2018. As Muawad explained, “STC has been investing heavily in new technological trends and Blockchain is one of the hottest today. Four months ago we signed a memorandum of understanding with ConsenSys and other companies both local and international to help build our blockchain capabilities. Today we moved from announcements into developing actual use cases with both governmental and private sector.”
He adds, “We just signed a Memorandum of Understanding with NUPCO (National Unified Procurement Company) for Medical Supplies which is the largest company of its kind in the Middle East. NUPCO is responsible for centralizing procurements, warehousing, distribution and re-exporting of pharmaceuticals, medical equipment and supplies for governmental and private sector.” He added, “We will be working with NUPCO to enhance their health supply chain process, and bring innovation and improved governmental transactions. We are building the first blockchain use case for supply chain optimization and the project is already underway. This is an important project as NUPCO is one of the two main providers of pharmaceutical products for the KSA government.”
The United Kingdom (U.K.) Office of Communications (Ofcom) has received a £700,000 ($916,00) grant from the Department of Business, Energy and Industrial Strategy (BEIS) to explore blockchain technology, according to an announcement published Oct. 8. The grant will purportedly help the U.K. telecoms regulator examine how blockchain can improve the management of landline telephone numbers.
Established in 2016, the BEIS is a government department supported by 46 agencies and public bodies and responsible for business, industrial strategy, science, innovation, and energy and climate change policy.
Russia’s largest majority state-owned bank Sberbank has signed a partnership agreement with state-owned power giant Rosseti to propagate new technologies, a press release confirms Friday, October 5.
The latest step in Sberbank’s ongoing engagement with innovations such as blockchain, the institution and Rosseti will work together on a raft of projects, including accelerators, education, research trials and exchange of expertise.
KT Corp may only be the second-biggest mobile carrier in South Korea, but the telecommunications firm is reportedly the first in the world to launch a blockchain-based commercial network.
According to The Korea Herald, KT Corp’s blockchain network will initially have the capacity to handle 2,500 transactions per second. Before the end of 2018, however, the capacity will have been quadrupled. By the end of next year, KT Corp intends to have increased the number of transactions per second to 100,000, according to the head of Blockchain Center at the KT Institute of Convergence Technology, Seo Young-il.
China’s three major telecoms operators launched a blockchain research group, which has held its first meeting, local media outlet Fintech News reports July 23.
The product of China Mobile, China Unicom and China Telecom, the group involves a total of twenty experts from eight companies including Huawei, Union Mobile, and Financial Technology (UMF).
The aim, an unnamed China Mobile official said, is to “build a trustworthy blockchain application team to explore the blockchain area.”
“It’s a solution in terms of order management, contract management and creation of use cases,” the official added.
China’s The world’s fourth-largest telecoms provider, Japan’s Nippon Telegraph and Telephone (NTT), has filed a patent for using blockchain tech for contract agreement, according to a U.S. Trademark and Patent Office (USPTO) release on July 19.
NTT’s patent application writes that a problem with contracts on blockchain is that each transactions “contains only the electronic signature of the sender” as the “evidence of contract agreement by the receiver is not left in the transaction.”
The patent suggests a “simple, possible way to solve this problem is to, for example, include the electronic signatures of all the involved parties in one transaction.”
11-Jul-18 Blockchain in Telecoms Will Become $1 Billion Industry by 2023: Report Blockchain in Telecoms Will Become $1 Billion Industry by 2023: Report
China’s Blockchain will contribute almost $1 billion to the telecoms sector alone within the next five years, MarketWatch reports Wednesday, July 11. a new research forecasts this week.
According to a global market research store Research and Markets, blockchain technology in telecoms will explode from a $46.6 million industry in 2018 to one worth $993.8 million in 2023.
The 132-page report singles out “rising security concerns” as one of the major factors driving the spread of blockchain, which operators in the arena view as a potential safeguard despite its still-fluid regulatory status.
“The blockchain in telecom market is driven by various factors, such as the increasing support for OSS/BSS [operations support systems/ business support systems] processes and rising security concerns among telcos,” an abstract of the report summarizes.
P.S. Read more news in the new issue of our Rising Blockchain Magazine.