Blockchain is undoubtedly going to reshape the telecom sector. However, where most changes will happen and what we should expect in the coming years.
What advance changes will blockchain bring to telecom sector?
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Blockchain is a distributed ledger technology and which eliminates the centralised networks.
Like other sectors, blockchain will also make changes to the telecom sector. It will help to eliminate the present flaws and also bring more advanced and secured features to the telecom sector. Some of the advancements in the telecom sector that blockchain could help with include reliable roaming calls, eliminate frauds, identity management, data management services, tracking and blocking of stolen mobile phones, number portability and inter-carrier settlements etc.
Blockchain-based mobile phones are trending these days because of the security that it provides to its customers. Some of them also add crypto wallets as a built-in function in their new models. For example, Samsung S10 and HTC Exodus 1.
The market of blockchain in the telecom sector is still at a nascent stage and will take time to get a reasonable growth rate.
The market will take time because of the cost involved in making changes to the telecom sector.