Page 44 - SAMENA Trends - December 2020

ARTICLE SAMENA TRENDS

ARTICLE

Blockchain: Driving Revenues and Minimizing Spends

for the Global Telecom Industry

Blockchain is a decentralized ledger that
maintains immutable record of transactions
that have ever happened in the network.

Through encryption and consensus
mechanism, blockchain provides high
level of security and trust among the
stakeholders.

From managing consent and preferences to stopping unsolicited
communication to managing digital identities for KYC to
eliminating fraud emanating in roaming and interconnect billing,
blockchain has emerged as the ‘go-to’ technology to solve –
age-old industry issues, drive growth, launch new products and
services, and better still drive disruption in the industry. As one of
the front-runners in driving global digital transformation agenda,
blockchain is poised to bring new revenue streams and optimize
costs for telecom operators and thereby create a significant
impact.

Telecom operators are at the cusp of bringing-in a transformative
change in the way we embrace technology. The same has
been evident by the live implementations globally. In fact, the
telecom sector is credited with implementing one of the biggest
implementations of blockchain technology in the world with
Telecom Regulatory Authority of India (TRAI) impacting more than Rajesh Dhuddu
VP and Practice Leader
Blockchain and Cybersecurity
Tech Mahindra

Source: Markets and Markets

44 DECEMBER 2020