Blockchain, currently, is one of the most talked about technologies experts are betting the future on. Every company is trying to figure a way to benefit from this emerging technology. The telecom industry is no exception. Blockchain is growing at a fast rate and already shaped a lot of industries worldwide. In fact, Dubai is aiming for a paperless government by 2020. You can read our previous feature, ‘Will Blockchain Transform India?’
This January, Dubai telco Du joined with Dhonor HealthTech to work on the world’s first patient safety blockchain. According to a report by Infoholic Research, blockchain in the global telecom market will grow at a CAGR of 77.79% between 2018 and 2023, spurred by the technology’s ever-improving compatibility with operational support systems (OSS) and business support systems (BSS). The capability of blockchain to map onto an operator’s business functions, in ways that add instant value, will undoubtedly drive widespread adoption throughout the Gulf Cooperation Council (GCC) and beyond.
Blockchain is reengineering the telcos’ business model that will make them grow at an unimaginable scale. Communication Service Providers (CSP) will now be able to publish their product information so that it could be accessed by potential roaming customers or they can bundle it or sell it to their current subscribers. This can basically lead to a wholesale stock exchange. Telcos can also tie-up with other digital services that can offer their customers an unprecedented quality of service in their preferred language.
This distributed ledger system (DLS) will add to the security as it is end-to-end encrypted and will turn out to be a robust and enable secure sharing of identity information among mobile operators. Roaming will become seamless as it will allow the subscriber to get roaming plans without getting another travel SIM of the country they are visiting. It will become a global community of buyers and sellers embedded into the BSS of each business making it more optimised.
Operators will able to sell directly to the partners without any intermediaries. eSIM and iSIM will make this technology flourish as they are already integrated inside the phone and don’t require any more hardware. You can change your operators online without any hassle. Blockchain allows multiple operators―that choose to join the global marketplace — to buy and sell units of services to roaming subscribers, without any third party causing technical hurdles and making things difficult for end users and operators.
It will also be a boon to IoT devices, wearable tech and all the other technology that can benefit from eSIMs and iSIMs. No matter what the subscribers’ needs are, blockchain will offer a solution. Plus, DLT will store customers’ preferences which will help the operator to push its services to its user. It can optimise everything a telco’s C-suite worries about — billing, provisioning, number portability and more―and acts as a potent agent of digital transformation and adding to efficient operations.
All in all, blockchain will benefit the telecom industry in a number of ways and its users as well wherein services like roaming will be simpler for most. We are ready to see more advancements and deployment of this technology in the near future. Keep reading to stay updated 🙂
How blockchain is calling out the traveller in you (Hint: Roaming) was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.