On the 24th June, the ITW Global Leaders’ Forum (GLF) released details of its blockchain platform for settlements in the telecoms industry. The Communications Blockchain Network (CBN) [update: now called CBAN] is slated for launch later this year and includes an impressive list of collaborators. A key aim is to enable industry interoperability.
The CBN plans to streamline the settlement process between telecoms carriers with automated billing applications. As customers’ roam’ and use another provider’s network, carriers bill each other. An industry-wide effort, the GLF hopes that this platform will drive adoption of new technologies, such as smart contracts, and enable interoperability.
Well known mobile carriers including A1 Telekom Austria,
China Telecom,
Colt,
Deutsche Telekom, IDT,
Orange,
PCCW, Tata,
Telefonica,
Telstra, and TNZI have invested in the development of the CBN.
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