Spain’s Telefónica, Deutsche Telekom, and British provider Vodafone have joined hands to finalise a trail blockchain solution to settle roaming.
Blockchain startup clear has developed the project. The solution will reduce capital cost for telcos. It will also provide more efficient settlement for their inter-company deals and workflows.
The finalized trial solution involved a system for automated settlement for roaming data from the three providers for 2019.
Use of the system enabled Telefonica, Deutsche Telekom and Vodafone to obtain yearly settlement results “within minutes” and to have real-time and multi-party insight into data discrepancies.
Johannes Opitz said that roaming discount agreement reconciliation is a complex, costly process prone to errors. Using Clear’s solution, operators will now have the ability to transact seamlessly with an ecosystem of partners, a crucial ability in the 5G and Edge ecosystem, in which we foresee significant growth of operators’ business relationships and business models.
The three telecom giants are calling on other providers to join the network of users of Clear’s solution.
Eran Haggiag, the Clear’s co-founder and executive chairman has also voiced his opinion. He said that initiatives from leading industry bodies are now pushing for industry adoption across multiple use cases.
Vodafone CEO said, “With new, more complex technologies like 5G and IoT being introduced, even more radical innovation in roaming will take digitalization to the next level. Vodafone believes blockchain is the solution, and its use will lay the foundation for further sustained innovation. Clear’s solution is a solid demonstration of blockchain’s benefits.”