Syniverse and IBM teamed up to develop an open-source blockchain network that aims to validate wholesale billing and charging processes.
In a pilot program, which came to an end this month, IBM and Syniverse designed a blockchain network that allowed smart contracts to be executive via mobile operators. By using the blockchain technology, IBM and Syniverse looked to improve customer efficiencies and reduce friction between businesses.
Syniverse and IBM built the blockchain network on IBM’s existing blockchain platform. Syniverse then validated the blockchain by testing it on two international telecommunication companies, Orange and Mobile TeleSystems.
The two telecommunications company reported efficiency gains for settlements as well as improvements with transparency and contract management.