• Efficiency. Paper order forms, GUI, and EDI considerations are retired, and all order activity between the parties is transacted via the blockchain

• Security. Utilizes private and public keys and cryptography hashing to encrypt the transacted data.

• Decentralization. Cryptographic hashing allows for limitless transactions as large order volumes can resolve back to one hash.

Actualizing a blockchain
for telecom solution

Blockchain solutions can simplify complex and antiquated business operations, to align intercarrier business models more closely to their true purpose—that is, the interoperability of networks to facilitate the global economy.

At its highest level, implementing a blockchain solution starts with network inventory and establishes selected benchmarks. Next, carriers can identify an ordering solution that offers a single pane of glass to centralize Access Service Request (ASR) and Local Service Request (LSR) activity. Finally, with benchmarks and a single pane of glass, carriers can tie order activity to governing, immutable smart contracts. Below is a well-thought-out approach to carrier blockchain implementation: 

Phase 1 - Create a technology-based framework to attain operational efficiencies, mitigate dispute and accrual issues, and validate and rate the carrier’s embedded base by:

• Cataloging and reviewing historical circuit orders.

• Codifying every contract and tariff order carriers conduct.

• Conduct a historical audit to identify savings that can be reallocated to dramatically reduce or even eliminate the financial impact of a blockchain deployment.

Phase II - Utilize rating logic created in Phase I to rate and validate orders in near real-time to mitigate billing and accrual issues and to optimize orders proactively. Phase II operational efficiencies include:

• Reducing order entry errors.

• Simplifying audit and dispute processes.

• Identifying potential back billing for accruals.

Phase III - Demonstrate operational efficiencies gain, such as: 

• Positive impact on gross margin and mean time to revenue.

• Retire or decrease costs associated with legacy systems.

• Streamline staff and processes.

• A clean slate of accruals, such as elimination of future back billing.

The future of blockchain technology for telecom

The telecom industry has been at the forefront of technological and economic advances since its inception; however, by today’s standards, it is a laggard to modern business in day-to-day operations. Blockchain solutions have proven a viable option to simplify the complex and evolving carrier services environment in a way that allows for accuracy, savings, trust, and transparency in each business exchange.

Carriers must formulate standards to pave the way for mass blockchain adoption. Many domestic and international carriers are operating nodes on the W3C Abstract Decentralized identifier (DID) standards-based Integrated Trust Network (ITN). MEF has also published the industry’s first standard for the telecom industry’s use of blockchain, which defines smart bilateral and omnilateral.

With blockchain integration, carriers can modernize with blockchain solutions and recapture their forward-looking persona.