Expanding Telecom Horizons with Blockchain Technology

Blockchain technology is upgrading the telecommunications industry by introducing new ways of provisioning security, digital identity, billing, and etc.
Telecommunications is an incredibly complex industry, which requires enormous physical infrastructure, multiparty networks, complex billing systems, roaming agreements, and other services. Blockchain technology implementation may seem like an extra layer of complexity in this complicated industry, but in fact, the introduction of a distributed ledger and smart contacts can simplify all business processes surrounding telecom companies.
Areas of application
Billing
Each time when a call or similar activity is initiated, a billing system generates a Charging Data Record file, which later is used to invoice a user. Sending these files to a distributed ledger helps to secure this information and makes it possible to apply smart contracts logic, which can help to automatically execute payments.
Roaming
Service providers can share parts of their databases via a distributed ledger providing easy access to information about a traveling user. Providers can easily share their tariff plans and automatically invoice users according to certain conditions stated in smart contacts.
Digital Identity
Immutable ledger of blockchain technology allows to establish a trustworthy source of records about users identity, devices information, and other information. This is going to reduce fraud attempts, making services more trustworthy and liable.
Get your own private blockchain solution to upgrade your telecom business
Use cases
Still thinking how to apply blockchain to telecommunications industry?

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