Blockchain
Blockchain technology is a new addition to TEOCO’s Business Assurance toolbox. We are leveraging this within our Financial Analytics offerings to create smart contracts, which are used for complex agreements between carriers. Smart contracts are self-executing and leverage distributed ledgers that can never be forged and are self-executing. This means there is no middle-man required, such as a bank or clearinghouse, for transactions to occur.
TEOCO’s portfolio of Financial Analytics solutions and Business Assurance services are designed to reduce network and operational costs and improve margins for our customers. Our ongoing investments into technologies like blockchain and smart contracts provide valuable benefits for our customers in an era where speed, security and accuracy are paramount.
TEOCO is constantly exploring ways to improve our customers’ bottom lines through new technologies and processes. When combined with , many of today’s manual BSS and OSS processes can be streamlined, automated, and linked together.
Key Benefits
- SPEED & ACCURACY
- Uses software code to automate tasks. Automated contracts avoids manual effort and errors.
- 100% UP TIME & BACKUP
- As long as the global network exists. Documents duplicated many times over, accounts cannot be lost.
- SAFETY & TRUST
- Documents are encrypted on a shared ledger. Cryptography, encryption keeps your documents safe, no hacking.
- SAVINGS & LOW COST
- Saves you money since they knock out intermediary. Small per transaction fee.
- IMMUTABILITY
- Application will always exist and cannot be modified.
- AUTONOMY
- No need for intermediaries to enter into a contract.
SMALL CELL CONTRACTS
TEOCO uses blockchain to help our service provider customers manage complex contracts associated with the placement of 5G small cells. Many small cells involve complicated ‘right-of-way’ issues that need to be resolved. Every municipality has their own rules, and this results in complex contracts between carriers, equipment vendors, landowners, technology partners, and government agencies. A lot of information must be linked and all this complexity creates many avenues for revenue leakage. Blockchain can link purchase orders, quotes, contracts, and more – and policy-based guardrails can be applied to protect margins with everything linked together, and every change is tracked.
ROAMING AGREEMENTS
Roaming agreements can be created in the form of smart contract blockchains between home and visitor networks. When a subscriber roams onto a visitor’s network, the contract automatically sends the relevant roaming traffic information to the home network, while calculating and charging the correct amount in real-time
Resources
18th September 2020
How can we help?
For over 25 years, TEOCO has helped network operators run state-of-the-art networks and profitable businesses. Learn how we can help you in the areas critical to the success of modern CSPs.