Increase in ROI
Reduced processes
Reliability rate
Gretol can help you accelerate the development of Blockchain in smart telecommunication. We do this by providing a secure, data-centric, end-to-end blockchain solution to manage the entire business lifecycle.
Today we see the global telecommunication market transform towards a digital, interconnected and shared economy. Telecom infrastructure is one of the prime enabler and also a barrier for the expansion of telecom services. Therefore, sharing of infrastructure by the telecom operators has become the need of hour as operators try to lower their respective investments. The intent of regulators also is to increase the mobile network coverage area within the geography and optimize the utilization of telecommunication infrastructure.
Mobile roaming allows mobile users to continue to avail their mobile services like voice calls, text messages, and the internet while visiting another country. Roaming extends the telecom coverage of the home operator’s seamless services by a roaming agreement between the mobile user’s home operator and the visited mobile operator. The roaming agreement comprises of the technical and commercial terms & conditions. Roaming agreements are required to be set up with every other operator in the world. Such roaming agreements and intermediaries like clearing houses increase the cost of operations that are eventually passed on to the subscriber. These agreements could be replaced with automated Smart Contracts. Based on the Smart Contract rules, the charges and payment terms & conditions are set.
Number portability (NP) is a classic example of how operators across the world depend upon third party NP service provides. NP is achieved through a complex process and every country has taken a specific approach to implementation. Most countries use a centralized database model. Few countries have implemented the distributed database model. The primary challenge in NP is that there are no international standards. In number portability operations, information exchange was possible between CSPs directly or via an intermediary but financial transactions or value exchange was not possible or easy.
A blockchain is a distributed, cryptographically-secure database structure that allows network participants to establish a trusted and immutable record of transactional data without the need for intermediaries. A blockchain can execute a variety of functions beyond transaction settlement, such as smart contracts. Smart contracts are digital agreements that are embedded in code and that can have limitless formats and conditions. Blockchains have proven themselves as superior solutions for securely coordinating data, but they are capable of much more, including tokenization, incentive design, attack-resistance, and reducing counterparty risk. The very first blockchain was the Bitcoin blockchain, which itself was a culmination of over a century of advancements in cryptography and database technology.
Historically, databases have incorporated a centralized client-server architecture, in which a sole authority controls the central server. This design means that data security, alteration, and deletion rests with a single point of failure. The decentralized architecture of blockchain databases emerged as a solution for many of the weaknesses of centralized database architecture. A blockchain network consists of a large number of distributed nodes––voluntary participants who must reach consensus and maintain a single transactional record together.
When a digital transaction occurs in a blockchain network, it is grouped together in a cryptographically-secure “block” with other transactions that have occurred in the same time frame. The block is then broadcast to the network. A blockchain network is comprised of nodes or participants who validate and relay transaction information.
Blockchain technology has a wide variety of benefits, for both global enterprises and local communities. The most commonly cited benefits of a blockchain are trusted data coordination, attack-resistance, shared IT infrastructure, tokenization, and built-in incentivization.
Web3 has become a catch-all term for the vision of a new, better internet. At its core, Web3 uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership.
Web3 gives you ownership of your digital assets in an unprecedented way. For example, say you're playing a web2 game. If you purchase an in-game item, it is tied directly to your account. If the game creators delete your account, you will lose these items. Or, if you stop playing the game, you lose the value you invested into your in-game items. As well as owning your data in Web3, you can own the platform as a collective, using tokens that act like shares in a company. Current payment infrastructure relies on banks and payment processors, excluding people without bank accounts or those who happen to live within the borders of the wrong country. Web3 uses tokens to send money directly in the browser and requires no trusted third party.