Telefónica To Use IBM Blockchain Platform
Telefónica, the Spanish leading telecom operator, will apply the IBM Blockchain platform to manage international mobile calls, Cointelegraph reports.
The Spanish company is the 7th in the rating of the world’s largest telecommunications firms in terms of market capitalization. Its value reaches $51 billion, according to Forbes. Telefónica does business in 17 countries worldwide and has 343 mln clients.
The cooperation with IBM is aimed at optimizing some business processes of the mobile operator. It seeks to solve a number of problems, namely the reliability and authenticity of data coming from various networks during international calls. The platform will track this information along with the origin of a call, its purpose, and duration.
Blockchain will help create a network of various companies, including operators, service providers, retailers, and other players of the telecommunications market. All of them will have access to information on blockchain. The possibility of identifying fraudulent actions and resolving issues related to disputes, loss of income, or inconsistencies in data will be another advantage of the project.
IBM has confirmed the cooperation with Telefónica and stated that the partnership will allow communication providers to address one of the main problems of mobile operators — the management of international calls.
As previously reported, IBM filed a patent application for blockchain for scientific research.