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Telefonica and IBM have announced a joint initiative to implement blockchain technology in order to streamline basic business processes. The goal is to use a blockchain to solve the complex challenges in the services provided by Telefonica to register data and information from different sources. By applying technology to end-to-end telecommunication processes, a new form of command and approval can be introduced into the flow of information that brings significant success in efficiency and trust, the operator said.
The initial project of Telefonica and IBM aims to improve the reliability and transparency of information gathered by different networks when establishing international calls. Using the IBM Blockchain platform used by IBM Cloud, Telefonica will work in real time to monitor the security and traceability of each international call and its attributes (mainly of origin, destination and duration) on a decentralized platform that all operators in the chain have access to.
Telefonica says the project is a clear example of how the use of blockchain technology in telecommunication networks dramatically improves the accuracy and immutability of data generated when providing different services.
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