The year 2019 has been quite significant for the telecom industry. Most would associate the recent times with the ongoing developments in 5G. However, the industry also experienced the emergence of other interesting trends as well.
FREMONT, CA: The telecommunication sector continues to evolve thriving on certain trends besides 5G. Here is a look at two high-impact trends that came to prominence recently.
Blockchain
In today’s world, blockchain technology is one of the most hyped and widely discussed technologies. There are not many sectors that haven’t shown interest in the technology, and the telecom industry has been no exception.
Blockchain can enhance the efficiency of telecom enterprises besides increasing revenue growth. Telecom companies have also started perceiving technology as a way to effectively prevent fraud on the network. Moreover, blockchain technology can come in handy while opening new sources of revenue by enabling eSIM, Identity-as-a-service.
Blockchain, by reducing losses arising through fraud, enables lesser costs for fraud detection activities.
Increased Adoption of Cloud
The current telecommunication services have to function in a highly complex operational environment, and there is a huge dependency on technologies for managing their networks and for ensuring delivery of services.
The popularity of cloud is increasing among the telecommunication industry as an effective method to take advantage of the technology as a way to virtualize networks, innovate more, and grab IoT opportunities.
More investments in the cloud platform have to flow in for this to happen. In the near future, the cloud will be utilized by both small and large enterprises.
Considering the fact that the telecom industry is still far away from finding a solution for effectively preventing fraud, blockchain can be a great contender for actively reducing the costs associated with fraud, especially in roaming besides identity management.
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