Telefónica from Spain, Deutsche Telekom and the British provider Vodafone are working on a blockchain solution for processing roaming discount agreements.
Telefonica and co
Three of the world’s leading companies in the telecommunications industry, namely Telefónica from Spain, Deutsche Telekom and the British provider Vodafone, have jointly developed a blockchain solution for billing roaming discount agreements. The solution was developed by the blockchain startup Clear and is intended to lower the capital costs for telecommunications companies, support faster revenue recognition and enable more efficient billing of their cross-company business and work processes. Telefónica Innovation Ventures and Deutsche Telekom’s Telekom Innovation Pool contributed to a $ 13 million Series A investment for Clear earlier this year. They wanted to support the startup in the development of its blockchain processing system.
The benefits of blockchain
Johannes Opitz, Vice President of Commercial Roaming Services at Deutsche Telekom Global Carrier, explained the benefits of the blockchain solution for an evolving global telecommunications infrastructure:
“Coordinating roaming discount agreements is a complex and costly process that can easily lead to errors. With the Clear solution, operators can now work seamlessly with a partner ecosystem. This is a critical aspect in 5G and Edge Ecosystem where we expect significant growth in business relationships and business models of operators. “