So how blockchain disruptive technology is benefiting the telecom industry around the world? Here are the why, how and what of blockchain in telecommunications.
The digital world, as we know it, is changing the world every minute of every day. And thankfully, these emerging technologies are changing the world for the better.
One prominent player in this movement is the very powerful blockchain technology. With its slow, but definite, entry into the various sectors of the business world, it didn’t fail to catch the attention of even the huge industry of telecommunications.
Although the said industry is still experimenting on the effect blockchain can do to their system, they are not closing the doors to the potential profit and convenience it can possibly provide. From larger coverage to more secure data transactions, blockchain is truly relevant to the field.
With this technology, customers will be happier with the fast services their communication service providers (CSPs) are giving while the latter will be happier with the cost-effective method blockchain is providing them.
Network infrastructures will be altered for much-advanced coverage and service capabilities. Business models will also be adjusted to accommodate the features blockchain offers.
More transparent and fraud-free transactions will be practiced between participating points in the blockchain system. Even simple switches from postpaid to prepaid will be available for costumers to enjoy.
The technology is not only transforming traditional CSPs, but it is also giving them the opportunity to control more than just mobile networks. Imagine the Internet of Things (IoT) connected with this massive network. Imagine the capability and security it can provide. Imagine the impact this can do to the society’s current way of living.
Blockchain’s applications do not end there. A multitude of other existent and potential projects for this technology is also underway. The possibilities are limitless. The near future is certainly the future of blockchain technology in the telecoms. And we are surely excited to experience this stunning breakthrough.
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