Deutsche Telekom aims to slash global phone theft

Deutsche Telekom, Camelot ITLab, and SAP are working on a blockchain network to enable the worldwide blocking of stolen phones. If stolen phones become unusable, then the theft incentive should decline.

The problem

You’re sitting at a restaurant table. You look away for a moment, and your phone disappears. You turn around and see the culprit leaving the premises. Do you get up and chase him? Not all of us have Serena Williams’ speed or guts to chase down the thief. That said, research in the US in 2013 found that 68% of phone theft victims are willing to put themselves in some amount of danger to recover a stolen device.

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