Blockchain System for Inter-Carrier Settlement Tested Successfully by Global Telecoms
Proof of Concept
The most significant organizations dealing with telecommunications PCCW Global and also the Colt Technology Services have made a collaboration with a startup involved with Blockchain to go ahead with the Blockchain proof of concept (PoC). Therefore, this joint venture would ensure that the inter-carrier settlement has been automated of the various services in the telecoms industry. This is as it was reported by Finextra UK media outlet on 8th May.
Before, the Historical data was used in the testing of the PoC. However, progress has been realized with a success in the trial involving the ingestive data feeds to Blockchain. Therefore, this enables the traffic to undergo verification and also settlement within the carriers.
Up to this far, PoC has made its major focus on the bilateral testing between the PCCW Global and also the Colt Technology Services. PCCW is the leading provider of telecoms in Hong Kong.
This will now be subject to extension to the various members of the ITW Global Leaders Forum (GLF), this is a network comprised of the global telecom wholesale carriers. Telefonica, HGC global Communications, BT and also Telstra have been involved in the pilot study. HC CEO, Andrew Kwok that this initiative would work to reshape the business operations in the world telecoms industry.
During the previous month, Huawei which is a Chinese based telecoms giant was involved in the release of the Hyperledger-fuelled Blockchain cloud service. Additionally, SK telecom which is based in South Korea made an announcement of the two Blockchain tech platforms it was building on. One of them was the support of ICO investment ecosystem and also another for asset management.