Blockchain and Telecom Operators

An introduction to Blockchain technology

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

Blockchain role in the Telecom sector

Blockchain technology has the potential to fundamentally change the way business is conducted, and to transform the foundations of our economic and social systems. One of the major sectors is the telecoms industry, this sector has the ability to adopt this new technology and open up the doors of a new kind of competition.

Blockchain can make the process faster and more secure

We all know that a telecom network has many core services such as operating support system (OSS) and business support system (BSS) which mainly fills the role of a telco partner, sourcing, supply chain, service providers, etc. and managing the legal and financial relationship. These processes are very sensitive as confidential information are usually being shared with these types of information exchange, hence, the value of blockchain will come in as an added layer of security to protect and speed up processing and storing of data.

Why telcos should be interested to adapt this technology?

We have identified 3 main reasons why telcos should focus more on adapting the blockchain technology within their network systems:

Blockchain and the rise of 5G technology

With the special and new advantages/features 5G is bringing into the world including high-speed, low latency, and more capacity, this will undoubtedly open doors for new technologies and services to rise up. Telcos will have major input on this while introducing the new OTT and IOT services to the market targeting different business segments whilst ensuring this is being delivered and spread across their network reach. A major issue we noticed here is the miss of a standardized ecosystem. With blockchain technology implemented, everyone will have access to everything, and the competition between small and big companies will intensify.

Next Steps?

Telcos are in real competition not only with companies in the same industry but with other enterprises across industries, that might share the same goals and/or targets; these competitors may include banks (while telcos introduce mobile money), retail, airlines (while introducing the loyalty program), etc.

Hussein has 7+ years of experience in the Telecommunication and the Digital industry around the world and specifically in the MENA, GCC and SSA regions.