Telecommunications

Blockchain technology’s disruptive nature is set to transform a range of established industries, none more so however than the communications industry.

Telecommunications

The functionality of telecommunications relies immensely on security and speed. The communications sector is at the forefront of innovation as it moves towards methods of digitalisation and virtualisation. These advancements facilitate the opportunity for blockchain implementation. There are several ways blockchain systems of operation can assist the telecommunications industries including IoT security, payments and the management of users.

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Services

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Fraud Prevention

The telecommunications has suffered greatly from cyber-attacks and fraudulent schemes across the world. It has significantly hindered the industry and is a major contributor to a loss of revenue. The total security assurance of blockchain ledger will diminish the threat of cyber-attacks and put the power of data back into the customer’s hands

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IoT

Implementing a blockchain network in the IoT project can ensure a greater level of communication between devices as well as an increase in trust within the network. IoT considerations include data transmission and the ability to provide a more secure path between sensors and machine. Blockchain technology is able to connect two data centres and this digital control would make IoT more accessible.

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Payment

Blockchain provides a more simplified, streamlined system in which payments are secured. With the increasing reliance of digitalised forms of payment such as mobile and web payment, the system is now vulnerable to hacking. Blockchain technology eradicates the need for intermediaries which would provide an extra layer of protection about cyber threats.

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Management of Identity

Telecommunications companies have the opportunity to integrate a blockchain authentication system for identity management. This would ensure the security and ease of handling ID’s across multiple devices, applications and organisations. Blockchain technology requires a singular master key which it uses to verify identity on any digital platform. Blockchain Australia can ensure a reliable and faultless application of identity management.

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Messaging Security

For both consumers and telecommunications corporations the issue of data-sharing and protection is paramount. A major concern for consumers is if their private data is being sold off to advertisers. Social media juggernauts like Facebook are under intense scrutiny regarding their data-sharing policies. Blockchain is a solution that is already being rolled out by telecommunications companies. Blockchain’s private key means that all messages and digital activity is encrypted and owned by the user. This gives the consumer full authority over their data and also presents the opportunity to be compensated for data they decide to share, with the development of crypto wallets. Blockchain Australia can assist in navigating this revolutionary technology and can create crypto wallets that have real financial backing.

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Blockchain Australia MEMBER ORGANISATION

We are a proud member of the Blockchain Australia (BA)

Blockchain Australia is the industry network for businesses implementing blockchain solutions. Blockchain Australia members work together to build understanding of the potential of blockchain technology, share best practice and engage with government and regulatory stakeholders.

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