Deutsche Telekom, Telefónica, and Vodafone, have successfully finalised a trial automated settlement of roaming discount agreements, using a blockchain solution developed by Clear. 

According to Clear, its new settlement system promises faster revenue recognition, lower capital costs, and higher speed and efficiency.

The first trial took place with the three major telecommunications companies in 2019, with the solution providing benefits including yearly settlement results in minutes instead of hours, uncovering data discrepancies visible to both sides in real-time, and the ability to update or correct data instantaneously. 

Co-Founder and Executive Chairman of Clear, Eran Haggiag, explained:

“To eliminate the complexity and streamline the process of B2B settlements, Clear developed a blockchain-based solution designed to automate contract settlement for enterprises, while guaranteeing control, security, and privacy. This trial is a huge step forward to a world of improved partnerships, minimum disputes, and accelerated innovation.”

Discussing the solution Vice President Commercial Roaming Services at Deutsche Telekom Global Carrier, Johannes Optiz, said:

“Roaming discount agreement reconciliation is a complex, costly process prone to errors. Having an automated system that can not only solve this problem, but avoid it altogether, opens up a world of possibilities for telecom companies, as we move from isolation to collaboration. 

“Using Clear’s solution, operators will now have the ability to transact seamlessly with an ecosystem of partners — a crucial ability in the 5G and Edge ecosystem, in which we foresee significant growth of operators’ business relationships and business models.” 

While CEO of Vodafone Roaming Services, Sherif Bakir, added:

“Inter-carrier roaming processes have evolved enormously throughout the history of mobile communications. With new, more complex technologies like 5G and IoT being introduced, even more radical innovation in roaming will take digitalization to the next level. 

“Vodafone believes blockchain is the solution, and its use will lay the foundation for further sustained innovation. Clear’s solution is a solid demonstration of blockchain’s benefits, and we’re delighted to be working with Clear and all our industry partners to grow this ecosystem and build a global network at scale.”

The network of operators utilising Clear’s solution is now onboarding new operators, with Clear offering free installation and an extended trial to new operators until the end of 2020. 

AYO.NEWS says:

Though we increasingly rely on cross-network data flows and partnerships, few of us outside of the industry ever give it a second thought. But, as the proliferation of new services creates ever-more complex partnerships and relationships between networks and businesses, the need for an efficient, transparent, and automated system of settlement is clearly pressing – and yet again, we see a perfect use case for blockchain technology emerge. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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