Blockchain revolutionary technology manages to reshape operational and business models of many industries
Telcos use blockchain to get new revenue sources. Source: pixabay.com
Due to the high digital security level and the promise of reducing transaction time and costs, blockchain is being driven by increasing demand, Global Data says. This way, telcos develop blockchain use cases to manage wholesale services, improve fraud management solutions, and streamline internal processes. Additionally, telecom operators can use blockchain technologies to enhance existing products, for example, IoT services, as well as to expand their enterprise solutions portfolio and yield new revenue streams, for instance, identity-as-a-service solutions.
Telcos like Orange, Telefonica, BT, and Colt are cooperating in the pilot projects to use blockchain technology to develop the efficiency of wholesale fees settlement amongst operators.
Finding new revenue streams will allow providing new business solutions. It is about Digital Identity-as-a-Service and Blockchain-as-a–Service along with a set of vertical-specific blockchain solutions like supply chain, quality control, and tracking solutions.
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