Top telcos Bharti Airtel, Vodafone India and Reliance Jio Infocomm are evaluating the deployment of blockchain technology-based platforms as they look to create new revenue streams and lower operational costs amid pressure on revenue and margins, reported Economic Times.
Vodafone India is already at the proof of concept (PoC) stage with blockchain technology, working with IBM, while Sunil Mittal-led Airtel is currently involved in initial trials, people familiar with the matter said to ET.
The English Daily reported that Mukesh Ambani-led Reliance Jio has set up an engineering team to work on blockchain technology with the goal of developing new use-cases and applications.
IBM, which is working with telcos to develop blockchain-based platforms, expects the first commercial deployments to take place this year.
“Almost all telcos in India are actively seeking ways and means to deploy blockchain for various use-cases. We are optimistic. Telcos, being at the centre of the digital revolution, are going to be key movers and shakers in making blockchain pervasive across the landscape,” said Vishal Awal, telco leader at IBM to ET.
However, not a single telco is looking at introducing cryptocurrency using the blockchain technology in the country, the executives said. There has been speculation that Jio is planning its own cryptocurrency, JioCoin.
Blockchain can help Indian telcos in mobile number portability. The Telecom Regulatory Authority of India, in its recent consultation paper on reviewing the mobile number portability process, suggested blockchain solutions as one of the options that can benefit telecom management systems, reported the English Daily.
I’ve read a lot of posts regarding block-chain, I’m glad a lot of countries are implementing this system.