With 5G just around the corner, telecoms companies are exploring business collaborations to introduce new services into the market. But the biggest challenge is tracking revenue sharing between partners and the ability to support multi-party payments.
Telecoms service provider Syniverse and IBM have developed a blockchain platform for multi-party billing and payments. Yesterday, Syniverse officially launched its blockchain solution Universal Commerce, which is compliant with the new GSM Association standards for billing and charging processes.
Currently, telecom firms have to reconcile usage data for services used by their customers while roaming. Exceptions have to be processed relatively manually. A process that is already challenging is set to become more complex as 5G and IoT bring newer business models, which may further complicate things.
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