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Global Telecoms Conduct Successful Blockchain Trials

May 25, 2018

Telecom Companies Testing Blockchain

PCCW Global, the international arm of HKT, Hong Kong's leading telecoms service provider and COlt Technology Services had a bilateral testing to see if a blockchain Proof of Concept (PoC) could work across the telecoms industry.

These are two of the major international telecommunications companies that are currently on a joint initiative to automate inter-carrier settlement of services. Both were on a blockchain start up and wanted to progress into having a blockchain Proof of Concept (PoC)which was initially tested using historical data. They had tried ingesting live data feeds into the blockchain and had been successful in enabling traffic to be automatically verified and settled between carriers

Because the test had been successful, it will be extended to a network of the world's largest telecoms wholesale carriers. BT, HGC Global Communications, Telefonica and Testra are joining in along with other members of the ITW Global Leaders' Forum (GLF). HGC's Andrew Kwok, believes that the "momentous" initiative could reshape business practices across the industry

Huawei, a Chinese telecom company has announced its Hyperledger-fuelled blockchain cloud service in April 2018. SK Telecoms of Korea has come up with two blockchain platforms for digital asset management and for supporting the ICO investment ecosystem.

Telecoms is only one of the many industries that have started to adopt Blockchain. Learn how blockchain first started with cryptocurrency and how it can work for your own personal success on Orozu