The telecom industry is at an inflection point. Telco market participants—everyone from fixed-line and wireless telecoms, communication software vendors, industry hardware providers to solution providers—need to manage large amounts of data, logic, and processes. They compete with cloud, yet many of their processes are manual and inefficient. On top of that, clearing & settlement is a lengthy, complicated, and risky process. The default and late payment risk of lower-tier carriers is high. Tier 1 carriers manage settlement between each other in batch processes with high exposures to one another.
Blockchain technology speaks the future of digital transformation in the telecoms industry. Blockchain technology brings telecoms into the digital age by streamlining 5G network deployment, IoT device management, edge computing capabilities, cross-carrier payment networks and inter-carrier clearing efficiencies.
Provides a secure, scalable and efficient platform on which multiple parties can share data, logic and records
Streamline KYC, on-boarding of customers, and improve clearing and settlement
Enables atomic or deferred net settlement, 24/7 exchange versus batch processing and reduces non-payment risk
Leverage digitization to shift costs to Opex and deliver scalability
Based on our evaluation, we have chosen to use R3’s Corda platform as one of the underlying DLTs for our applications because of its unique privacy capabilities, proven performance and ability to interoperate with other systems.
Director of Product Management, CSG
Corda is perfectly suited to support the privacy and performance requirements that were needed when we built the SLA reporting solution…R3 was also an excellent partner to work with as they provided the benefit of their expertise in the design and development of complex enterprise focused solutions.
Head of Alliance & Market Development, DCConnect