Telefónica partners with IBM to collaborate on telecom blockchain
Telefónica has inked a partnership with IBM to implement blockchain technology to manage international call traffic.
Using the IBM Blockchain platform, Telefónicasays it will be able to track in real-time the certainty and traceability of international call data such as the origin, destination and duration of the call.
By adopting blockchain, Telefónica says that telcoms can enable “significant gains in efficiency and trust”.
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“We believe that the new paradigm of process decentralization that blockchain facilitates perfectly fits with the telecommunications industry and can help us to significantly improve the way we have been traditionally solving the integrations between partners, " says Gonzalo Martín-Villa, Chief Innovation Officer of Telefónica.
"Blockchain will allow operators to generate a new layer of confidence in the Internet-based not on the players that generate the data and the transactions but on the data itself".
Ignacio Martín Santos, Managing Director for Telefónica Integrated Account at IBM, added: “In a world that is increasingly focused on data, customer experience, trust and digital ecosystems, blockchain can help communications service providers to streamline internal processes or, as in the project we are working with Telefónica, to increase trust among the different partners in the communications ecosystem, avoiding the need for call data reconciliation and thus achieving high potential benefits like reduced risk, time-saving and cost removal.”
Spanish telecommunications company, Telefónica, is the seventh largest telephone operating company.