Page 46 - SAMENA Trends - December 2020

ARTICLE SAMENA TRENDS

Source: Accenture

between businesses and subscribers.
Blockchain technology thrives on network effect. It means
SSI provides a secure onboarding, that the global operators must join hands in exploring and
credential issuance, authentication, and implementing use cases leading to business benefits. The
credential verification platform. It enables
secure next generation logins such as operators should deliberate on their blockchain strategy,
password-less authentication enabled operating model, data governance & sharing standards,
by biometric thereby reducing identity
thefts, frauds, and breaches. Moreover, it business models, partnerships, alliances, regulatory
empowers the identity owner to selectively frameworks and core competencies.
disclose identity attributes that could be
verified by zero knowledge proofs. This With the evolution of eSIM, telecoms can investment of 37% on the write offs due to
feature helps in reducing possibilities provide eSIMs that offer virtual identities these processes, operators can leverage
of data breaches. Since customer is the for devices, data, and users. These virtual blockchain for real time CDR reconciliation
identity controller and not any third party, identities can be leveraged to perform to enhance the visibility across the value
it complies with several regulations such transactions among users, organizations, chain and thereby reducing the cost of
as GDPR. and connected devices. SSI will likely to operations and frauds.
be adopted in phases rather than in big
SSI would be a $19.3 Billion industry bang. Telecom sector plays a crucial role Blockchain technology thrives on
by 2023. With the platform potential in becoming agents of SSI adoption and network effect. It means that the global
of SSI, operators will not only remain acting as a bridge between subscribers operators must join hands in exploring
communication service providers but also and enterprises/governments. and implementing use cases leading to
identity service providers. Blockchain in business benefits. The operators should
SSI gives full control to the identity owner Another major challenge that the telecom deliberate on their blockchain strategy,
by virtue of public key cryptography and industry is grappling with are fraud operating model, data governance &
opens plethora of opportunities for telecom losses worth $36 billion emanating from sharing standards, business models,
sector. Additionally, it provides immutable ineffective cross-carrier reconciliation. The partnerships, alliances, regulatory
trail of all the transactions including but not billing reconciliation, dispute identification, frameworks and core competencies. They
limited to creation, issuance, submission, dispute confirmation, dispute analysis should implement use cases centered
and verification of identities. Hence, it & resolution, and CDR reconciliation on their customers and subscribers by
ensures enhanced security of identities are time consuming and cost intensive ensuring it leads to enhanced efficiencies
with full control to the identity owners. processes. With the estimated return on and improved revenue streams.

46 DECEMBER 2020