"Blockchain" is a word that's been in the news a lot lately, usually tied to well-known cryptocurrencies like Bitcoin and Ethereum. So why are we talking about it here? Some in the telecom industry believe blockchain technology could make a large impact on our industry.
Over at FierceTelecom, telecom professionals Daniele Pe and Nicola Purrello believe the impact of blockchain on telecom could be huge.
"Blockchain has the potential to have a huge impact on the telecom industry thanks to the industry’s large customer base and internal processes.
There are numerous potential applications of blockchain in the telecom space, from voice settlement to mobile number portability.
Blockchain has ballooned in popularity in recent years mostly because of cryptocurrencies. Although they are two distinct entities, the buzz and hype around the technologies has led many to consider the two under the same umbrella. While cryptocurrencies are digital currencies that use cryptography for security and have a quite uncertain future—which is borne out by the volatility of prices in the last six months—blockchain is the technology that enables cryptocurrencies and is here to stay, regardless of cryptocurrencies’ destiny."