A huge disruptive force in Telecoms
Blockchain
In 2008, the global financial system collapsed. As a consequence big banks had to be bailed out. Trust in the financial system was lost.
What is Blockchain? ‘Blockchain is the DNA of a transaction’
The same year, an unknown blogger Satoshi Nakamoto published ”Bitcoin: A Peer-to-Peer Electronic Cash System” eliminating middleman (banks) from any digital transaction. Blockchain is the that technology supports this revolution, a public synchronized and encrypted database that is distributed to all devices involved to authenticate transactions. Blockchain enables digital transactions to be fulfilled faster and more cost effectively. Eight years after its conception, blockchain is being used to transfer currencies worldwide, certify marriages, validate medical records and its being implemented by many industries including Telecoms.
How it works? Send An unchangeable record block where all related parties contain the entire history of an asset
A bright future ~ USD 1 Billion … invested in 2016 by financial services and tech suppliers
Approve A new transaction is compared to the original record to be approved
Reserve currency … bitcoin to become 6th largest reserve currency by 2030
Read Once approved a new block is added to the chain and updated throughout the chain
Global revolution … 25+ countries have VC backed blockchain start-ups
There are three types of blockchain Public
Consortium
Private
Read transactions
Anyone
Limited
Limited
Send transactions
Anyone
Limited
Centralised
Approval process
Anyone
Few members
Centralised
Cryptocurrencies
Banking groups
Settlement systems
Examples
For more info contact: ramiro@reddawnconsulting.com +44(0)7492-405432
How is blockchain relevant to telecoms?
Blockchain is an opportunity for the telecom industry to streamline its internal processes and launch transformative transaction capabilities. Telecoms can become the spearhead of this technology and game change the way the world does business.
Consumer level
Examples of innovation in telecoms and media Micropayments
OTT Media ecosystem to enable Identity Management
Remittance mobile payments and payrolls for the un-banked in emerging economies
artists to share their work and receive instant royalties
Internet of Things
Operator level
Device level
ID management
Decentralised network that enable devices to ‘transact’ among each other using smart contracts
Create certified digital IDs, reducing the need for multiple security checks
Roaming / wholesale
BSS/OSS Smart billing & payment networks to electronically certify and ‘notarise’ payments to verify settlements
Opportunity
Reduce cost of dual roaming agreement reconciliation Eliminate roaming and wholesale fraud
What are telecom operators doing?
Verizon ventures invested in Filamanet, a start-up focused on building industrial IoT applications
Du is working with Dubai’s government and Guardtime, an Estonian start-up, to secure and share health records using blockchain
Blockchain can transform the way we transact
Orange’s ChainForce initiative brings together programmers, start-ups and corporations to develop commercial use cases
Are you looking to: • • •
Learn more about disruptions in telecoms? Develop a new growth strategy? Launch new propositions?
If so, talk to Red Dawn Consulting
Arun Dehiri Managing Director Red Dawn Consulting Ltd arun@reddawnconsulting.com +44 (0) 333 301 3450 www.reddawnconsulting.com