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BT, Telstra join Colt, PCCW telecoms blockchain

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In March telecom giants Colt and PCCW Global announced they were collaborating with startup Clear for a Proof of Concept (PoC). The application is for inter-carrier settlement. In other words the tracking of inter-company charges for international phone calls. Today they announced the next stage of the PoC. BT, HGC Global Communications, Telefonica, and Telstra have joined the project.

By the time of the March announcement, the companies stated they were able to reduce inter-carrier settlement from hundreds of hours per month to less than a minute. At that stage, the PoC was using historical data.

In the latest iteration, the two original companies are using real data.

“Not only did the second iteration of the PoC do what was intended – accurately match and settle wholesale traffic independently with live information – but it also signals the future of telecoms, whereby previously intensive manual practices can be securely automated to allow businesses such as Colt to invest resources into driving both our and our customer’s businesses forward,” said Carl Grivner, Colt CEO.