As digitization reshapes the industry landscape, traditional telco operators are being challenged by decreasing revenues and increasing costs. The need to reduce costs, drive new revenue streams and make their digital services more competitive is at the top of their “to-do” list in order to survive! So, what’s next?
Telco operators are starting to see new solutions to fulfill their needs in Blockchain technology! Indeed, major worldwide telcos such as Orange and Verizon are increasingly investing in blockchain by entering into partnerships and devoting funds to it, with the ultimate goal to reimagine their business and create innovative offerings for their consumers.
We believe blockchain technology could support telcos in establishing new cut costs strategies and improving their digital services, thus turning them into more competitive services. As a regular consumer of smartphones and thus of telecommunications operators, getting access to increasingly innovative and faster digital services is key for telcos to remain relevant and ahead in consumers’ lives.
9 areas to improve with the implementation and future usage of Blockchain.
Here are use cases with the highest potential impact:
Smart connection is the use case with the highest potential potential. In fact, telcos could use blockchain technology to make public Wi-Fi more readily accessible to subscribers. Subscribers and telcos could enter into simple "micro contracts" for the supply of public Wi-Fi services, making the authentication and payments more cost-effective through autonomous blockchain-based transactions between devices and access points.
I am persuaded that Apple, Samsung, you and I are very excited to witness how far the duo Blockchain – Telcos will go.