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The Spanish and Spanish telecommunications company Telefónica has partnered to apply blockchain technology to the management of international mobile phone calls, for a press release with Cointelegraph on November 14th.
Telefónica is the seventh largest telecommunications company in the world by market capitalization, valued at $ 51 billion according to Forbes. The company carries out communication activities in 17 countries, with 343 million customers.
Collaboration with IBM aims to simplify some of Telefónica's business processes and address various challenges in the field, including the reliability and transparency of information recorded by different networks during international call routing.
Specifically, Telefónica plans to use the IBM Blockchain Platform to track the certainty and traceability of each international call and related data, such as origin, destination and duration.
In addition, the platform will be applied to create a network of colleagues consisting of operators, service providers, vendors and other parties. For release, access to the platform will be available to all participants in the chain.
The project will also help Telefónica identify fraudulent activities and deal with problems such as dispute resolution, trade losses due to uncollected revenue, or discrepancies in information.
Gonzalo Martín-Villa, Telefónica's Chief Innovation Officer, said that "blockchain will allow operators to generate a new level of Internet trust based not on the players who generate data and transactions but on the data themselves".
IBM subsequently confirmed its partnership with Telefónica in a separate announcement today, saying that "Telefónica and IBM are collaborating on the development of a Proof of Concept (PoC) based on IBM blockchain technology to help solve one of the biggest challenges facing service providers. communication, the management of international mobile call traffic. "
Last month, the innovative wing of Vietnam's largest telecommunications operator, Viettel Group, set the goal of becoming Vietnam's leading blockchain technology provider in five years. In its run to keep pace with development trends, the company has already implemented a blockchain-based solution to improve file management in the healthcare industry.
In September, South Korea's LG UPlus company, a mobile operator owned by the fourth largest LG Corp. conglomerate, announced that it is launching a blockchain-based overseas cross-carrier payment service. Through the new service, users of a telecommunications carrier will be able to seamlessly complete transactions on another's payment networks.
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