Page 83 - SAMENA Trends - Jan-Mar 2024

ARTICLE SAMENA TRENDS

for public blockchains like Bitcoin, where new world of challenges within the telecom to every exchange. It allows organizations
a substantial amount of “mining” is industry. Fabric allows components, such to clear, reconcile, settle, and audit
performed which uses a lot of power. This is as consensus and membership services, wholesale roaming traffic simply and more
not the case for permissioned networks or to be plug-and play. It leverages container efficiently.
for networks like Solana and Ethereum, that technology to host smart contracts called
validate via staking vs. mining. Blockchain “chaincode” that contain the business rules Syniverse has deployed Universal
can offer green benefits for the telecom of the system, like an operator’s roaming Commerce for 90% of BCE-compliant
sector by reducing energy consumption, agreements. international operators. Our Financial
carbon emissions, and e-waste, as well as Clearing and Settlement solution makes the
promoting renewable energy sources and It’s also designed to support various settlement of roaming costs and revenues
circular economy practices. pluggable components, and to open, easy, and fast. It empowers carriers
accommodate the complexity that exists to optimize their cash flow through a unique
The Syniverse Blockchain Solution across the entire economy. Starting from multilateral settlement pool. This works like
The Syniverse Universal Commerce solution the premise that there are no “one-size- a payment hub, offsetting multiple receipts
was built on a blockchain backbone. The fits-all’’ solutions, Fabric is an extensible against multiple payments, through a single
solution was developed with a three-tier blockchain platform for running distributed settlement transaction. It also provides a
approach. There is a UI/UX layer, which applications. It supports various single ledger, so operators can realize the
represents the various web portals that consensus protocols, so it can be tailored revenue from many different types of traffic
our customers use to login and view their to different use cases and trust models, in one place.
usage, reports, and stats. The Application making the auditability transparent. Unlike
layer, which holds the main web content other blockchain-enabled solutions like Summing up Blockchain
hosting application and APIs supporting Bitcoin, Universal Commerce is a private Blockchain is quickly establishing itself as
the UI/UX layer. And lastly, there’s the blockchain, so only trusted partners can a critical element in charging and clearing
blockchain layer, which services the smart view transactions they share amongst for 5G roaming services. Operators can
contract that binds all the components themselves. realize significant cost savings through
together, including peer validation nodes operational efficiencies, and by removing
and distributed ledger. Syniverse employs Syniverse Universal Commerce is the latest obstructions that block the ability to drive
the IBM Hyperledger Fabric, a modular evolution of clearing and settlement for new revenues. It helps businesses in their
architecture that delivers high degrees of operators’ roaming business. It is the only digital transformations, digitizing current
confidentiality, flexibility, resiliency, and clearing solution commercially available manual, labor-intensive processes. And
scalability. that's fully compliant with the GSMA's ultimately, it provides a greater level of
most recent BCE 1.4 standard. Universal security through improved transparency,
Syniverse Universal Commerce on Commerce uses blockchain technology limiting the ability of bad actors to
blockchain with Hyperledger Fabric enables to encrypt each transaction, increase manipulate transactional records.
an easy transition for operators to meet a transparency, and provide ironclad security

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