By capitalizing blockchain in telecommunication industry, it will ensure the balanced move towards into various aspects such as network enhancements, Operation Cost reduction, ROI, CSPS(communication service providers) competition growth and OTT( Telco-Over the top)
Posted November 11,2018 in Science and Technology.
Hope the title have given you an idea about what we are going to see in this article!. Yes, Today we are going to discuss about the concept “Blockchain In Telecom Industry” . We already know that Blockchain have started to transform many industries like banking, SCM, Fashion, Food, Medical and so on. That’s why we have discussed a very important concept in previous article, which is about “Blockchain in healthcare”.
1 . Fraud Management
The estimated fraud loss of telecom industry in 2017 is about $40 billion
Blockchain have potential to reduce two main types of frauds, the first is roaming fraud and the second one is identity. Blockchain links both the device and the user identity so that it will impact every services associated with that subscriber’s identity.
Roaming fraud will occur whenever a subscriber access any of the resource in HPMN(Host Public Mobile Network), through VPNM(Visited Public Mobile Network ) ,but the HPMN can’t able to charge the subscriber for provided services.
The roaming fraud comes in two characteristics:
• By Longer detection time
• By Longer response time
By implementing permissioned Blockchain between network operators we can eliminate the frauds. Whenever a subscriber tries to trigger an event by entering into a network, there will be a execution of smart contract and other agreement terms will be executed between the roaming partners.
2. Identity management
With the help of Blockchain telecom industry can create new sources of revenue through data management and identity authentication solutions. Services operators can provide identity management tools that can be only accessible through organizations, specific devices and other apps.
Read more at : Blockchain Technology Use Cases In Telecom Industry