It has been confirmed by Communications Business Automation Network Limited (_CBAN) that the Data on Demand blockchain has been launched for connectivity business payments.
Gary Carr, chief financial officer of Colt and member of the board of _CBAN, said “Blockchain enables us to streamline the interaction between operators and concentrate our resources on providing the greatest experience for final consumers.”
“_CBAN is promoting the standardization of blockchain throughout the sector, and its newest breakthrough brings advantages to financial performance, operational efficiency, and customer satisfaction from the first day one.”
_CBAN is an organisation that was established by global ICT service providers with the goal of developing automated payment for the telecommunication sector. CBAN, along with its representatives Colt Technology Services, Deutsche Telekom Global Carrier, PCCW Global, and Vodafone, have built the Data on Demand Blockchain in order to set up a completely digitalized quote-to-cash service delivery procedure.
“The digitization of carrier services is essential to enhancing the overall customer interaction and optimizing business operations in the telecommunications sector.”
Bertold Frech, VP of business steering & marketing at Deutsche Telekom Global Carrier and member of the board of _CBAN, said “In the road toward end-to-end digitalization, settlement that is powered by blockchain technology is an essential component.”
This most recent invention will serve to push more standardization throughout the network in partnership with CBAN and in deep association to GSMA, MEF, ETSI, and other organizations involved in the development of norms. Additionally, the firm plans to utilize ClearX’s blockchain system in order to provide real-time facility between the inventories of its associates.
Marc Halbfinger, CEO of PCCW Global and member of the board of _CBAN, said “It gives us great pleasure to work together with other affiliates of CBAN to spearhead the utilization of blockchain technology to the automated payment of network facilities.”
“This technology advancement is essential for the delivery of end-to-end automation, which is basically reshaping the telecoms sector by reworking how our clients reserve and settle for various facilities.”
The information occurs as a consequence of the fact that the procedures involved in providing ICT services are made of many legacy applications. As a consequence, different parties involved in a transaction store their distinct documents utilizing their own unique data structure. There is no uniform data model or procedure that can bring together operations and trade, thus assets are squandered trying to overhauls and reconcile one another’s information. Additionally, there is no way to connect the two aspects of the business. A shared, distributed ledger that contains a secret merging document of firm transactions may be created with the utilization of blockchain technology, which is a potential solution to the problem.
Diego Massidda, CEO of Vodafone Carrier & Partner Services, said “The solution enables companies to create higher standards of data integrity, which in turn improves product quality and, eventually, service effectiveness for consumers.”
“It opens up the door for a completely digitised quotation to cash route, making service delivery mechanization a feasible objective, which is perhaps required in an ever increasingly unpredictable business climate; where our clients require additional speed and adaptability from their communications service providers.”
Eran Haggiag, co-founder & CEO of ClearX, said “Along with the forward-thinking colleagues of CBAN, we are very thrilled to deliver our cutting-edge blockchain-based technology to the data industry in order to improve it.”
“This gives carriers the ability to get access to a fresh ecosystem that will make it possible to conduct transactions mechanically and to provide superior and much more expedient service to clients than in the past. I can’t wait to see what we can do when we put our heads together.”
