Insights

Blockchain @ Telco

How Blockchain can impact the telecommunications industry and its relevance to the C-Suite

Blockchain is currently one of the most widely-discussed and hyped technologies. There are not many industries that shouldn’t be either excited or worried about its potential, with use cases, proof-of-concepts, and full-fledged businesses based on Blockchain technology emerging at an increasing pace.

Blockchain is currently one of the most widely-discussed and hyped technologies. There are not many industries that shouldn’t be either excited or worried about its potential, with use cases, proof-of-concepts, and full-fledged businesses based on Blockchain technology emerging at an increasing pace. Blockchain has the potential to be for ‘value’ what the Internet has been for information.

Blockchain permits trust to be intrinsically embedded into a technological solution, thus enabling smooth partnerships and transactions with potentially little friction between the various stakeholders.

Access the report in downloads section to know how Blockchain could impact the telecommunications industry.

In this report we highlight the following benefits:

  • A Blockchain’s ‘enabled’ trust improves coordination between various partners, due to a shared view of transactions and liabilities. This in turn permits the elimination of third parties, resulting in cost savings.
  • Facilitates a single view of data instead of the need for consolidation across various disparate systems. Also allows for reliable audit trails due to the history of all transactions being available in the ledger.
  • Implementation of smart contracts in roaming and other cases allows for near-instantaneous charging, thus leading to improved revenue assurance and fraud reduction.
  • Potential to facilitate new business models for revenue generation for Communication Service Provider who are looking for new avenues to increase both top and bottom lines.
  • A Blockchain can act as the ledger that enables, for example, an M2M economy to prosper based on the common platform available, in which M2M transactions can be recorded. It can thus act as the enabler for an IoT ecosystem.
     
How can Deloitte help:

Engage with our Subject Expects, Arun Babu, Director, Consulting Industry Leader – TMT; Ben Davis, Associate Director: Innovation and Growth Services and Thys Bruwer, Director: Deloitte Digital Africa to explore more on Blockchain

 

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