In the 7th part of XENIRO’s thought leadership series, we demonstrated the potential of “Programmable tokens for mobile operators” and the powerful economics that is shaping the 5G paradigm through the convergence between Telecom and Fintech with IoT.
Part 8 of this series is entitled “5G + MEC + DLT: Ecosystem redefined”. We will focus the discussion on the new ecosystem, primarily tailored for operators community, with the purpose of equipping them with monetizing capabilities in this 5G era. Our analysis will focus on:
- XENIRO’s ecosystem stack
- Ecosystem mindset shift
- Governance framework
The XENIRO Consortium Foundation aims to curate an ecosystem that delivers value to all stakeholders to benefit the whole community. Open source incubates innovation and Distributed Ledger Technology (DLT) is no exception. Mobile operators can start contributing to open source, establish their influence and get their voice heard to ensure their DLT capabilities are being implemented at the 5G Edge.
The ecosystem is partitioned into multiple stacks. At the fundamentals, we have the MNOs offering a broad base of their emerging infrastructure that is incentivized to work together democratically. SnapScale DLT can transform ecosystems by leveraging digital assets, also known as programmable tokens, where an entity is entitled to a service or a product on a platform. Programmable tokens are used to track and monetize IoT machine transactions, but they are also a great tool to materialize the governance rule as an equilibrium amongst this consortium, through shared values with transparency.
The Consortium Foundation strives to formulate a guiding environment with the following characteristics:
- Accelerate enterprise adoption: to jointly monetize from billions of IoT devices with the creation of a new value chain with mobile operators.
- Incentives: using programmable tokens on a decentralized ledger allows for more transparency and fair incentive schemes for all participants (lower commission fees on each transaction/smart-contract, leading to increased business efficiency).
- Simplicity: convergence of 5G applications following a common structural framework and upgrade pushed by the operators’ community; medium of exchange (XST token) to facilitate instantaneous payments across the whole network.
Once the Consortium Foundation starts gaining traction, we would expect a disrupt effect to take the following form:
New members join the Consortium → New partners → New developers → New DApps/Services → New users → New revenue stream creating a robust ecosystem
The ecosystem created within the Consortium Foundation will be orchestrated in such a way that XENIRO will empower operators and their customers with capabilities to capture new sources of value through the proposed 5G + MEC + DLT model.
In the ecosystem stack, mobile operators are a powerful catalyst with their possessed infrastructural assets. XENIRO, on the other hand, is the platform vehicle that facilitates connection, coordination, and collaboration with the rest of the open community in fully utilizing the complete ecosystem stack. The most significant opportunities are the shared values that are created through focus on platform innovation @ the 5G Edge.
Success in the digital era will come from the connected and collaborative efforts of business ecosystems more than from the controlled efforts of individual operators. If mobile operators were to re-adjust and leap frog to a new ecosystem, their mindsets require a certain level of re-engineering, as the world (humans and machines) becomes even more connected through DLT. The true challenge is deciding how operators will mediate, survive and thrive in this 5G + MEC + DLT ecosystem. This will require a shift of gear in mindset transformation in designing and implementing a new state, solving an old state problem. This will involve alterations in organizational principals, behaviors and culture if were to succeed in this newly proposed framework.
This transformation will require operators to demonstrate the following traits:
Governance describes the rules, processes, and procedures whereby an organization or the ecosystem in which the organization functions are controlled. Traditional governance models won’t work in operators’ blockchain-based ecosystem because the disruption is not merely about the technology, but also about newly defined operating models.
In this ecosystem, the XENIRO SnapScale DLT is designed and optimized for the mobile operators 5G MEC environment, and thus needs to be governed by the operator’s community, a self-sustaining system within this governance framework.
The XENIRO Foundation aims to adopts an “Off-Chain Governance” structure that is responsible for:
(A) Admission / Qualification of mobile network community
(B) Policy definition & administration
(C) Data and interoperability standards
(D) Dispute resolution
(E) Change control
Under this Consortium, XENIRO SnapScale DLT protocol updates are submitted by stakeholders of the foundation. Stakeholders can vote on issues such as product features, roadmaps, funding, marketing, resource allocation and so forth.
Let’s assume multiple functional software protocols / featured softwares are proposed towards the whole community. These updates are then filtered through a vote from shortlisted stakeholders. This is then followed through with a second vote via core stakeholder participation (chaired by mobile operators through the selected Protocol Steering Committee) to approve or disapprove the final featured proposals for SnapScale DLT. Off-chain governance is a robust system that takes every stakeholder’s interests into consideration.
To stay competitive and relevant, MNOs and Blockchain community need to transform their relationships with their peers to form a highly functional ecosystem, reaching its infrastructural potentials. This is what the XENIRO Foundation sets out to achieve on day one: creating an open IoT Blockchain infrastructure that is interwoven, dynamic, collaborative and inclusive. This will allow all members of the community to demonstrate their value through participation and contribution in creating an ecosystem that is a win-win for all parties involved.
Welcome to visit us @ xeniro.io . For your reference, find here below the full-set of our thought leadership series: