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The Telecom industry is known for reinventing itself. In the early days of telecom, fixed landlines were the key product of Telco’s, while with the advent of the mobile phone this moved to mobile subscriptions and the massive cash cow SMS. However, in recent years, for many Telecom organisations the main revenue is no longer call but data, which required another change in their business model. With every organisation turning into a data organisation, there are significant opportunities for the Telecom industry to reinvent itself once again, thanks to Blockchain.
Since telephony is so pervasive, the telecom industry is huge and often complex, with over 2000 mobile network operators. Many different players and billions of consumers and devices that interchangeably use a variety of networks. In addition, the Internet of Things will add tens of billions of devices to the global telecom networks, providing a huge opportunity for the Telecom industry. All these connections and billions of transactions have to be managed, and Blockchain is. Blockchain’s core attributes to make data immutable, verifiable and traceable enables the Telecom industry to create an ecosystem where consumers are in full control, and there is trust, security and transparency in the participating ecosystem. The …
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