Telecom Giants Launch A Global Blockchain Platform

The ITW Global Leaders Forum (GLF), a trade body for global and national telecom providers will launch a blockchain platform to improve inter-service provider settlements. The Communications Blockchain Network (CBN) will go live in the coming months.

Several carriers have already signed up to support the establishment of the platform including A1 Telekom Austria, China Telecom Global, Colt Technology Services, Deutsche Telekom Global Carrier, IDT, Orange, PCCW Global, Tata Communications, Telefónica, Telstra and TNZI.

Over 10 technology providers have already confirmed their support for the platform and their intention to participate in its development, including Amartus, Clear Blockchain Technologies, ConsenSys, CSG and their Wholesale business, Difitek, IBM, Internet Mobile Communications, Orbs, R3, Subex, Syniverse, and TOMIA, with more to be announced.

The goal is to avoid fragmentation and help push the adoption of automated settlement applications.

The new platform will drive the development of open-source standards and APIs that enable service-provider interoperability of DLT-enabled services, and manage critical infrastructure elements.

GLF previously conducted proof of concept (POC) trials across the telecommunications industry in order to figure out how carriers could settle wholesale voice minutes by using blockchain technologies.

More here