Blockchain in Telecom Industry
Blockchain Technology is the most hyped and widely discussed topic of today. The technological innovation soon got popularity among the tech enthusiasts and business operators for its value propositions like decentralized database, data immutability, timestamping, cryptographic sealing, transparency, auditability, and many others.
Leaving an audit trail for every transaction made between two parties or more, make the blockchain applications robust and secure for any high level conducts. The confidentiality and processing performances make blockchain a viable alternative for many centralized systems of today like Banking, Telecom, Health, Automobiles, say even Defense and Security wing. Today with no disparity of characteristics and complexities, blockchain technology is widely and intrinsically adopted among different business verticals.
If you are new to blockchain and curious what centers it all about read our previous blog: What is blockchain and Future of blockchain technology
If you wonder how this new technology got so much fanfare, here is the illustration of blockchain’s key characteristics that make it highly potential for any business use.
How?
With distributed ledger in place, the database is no more centralized. The information stored within the network is shared across millions of computers( individuals) connected to the network. Every transaction happening within a timeframe is validated and cryptographically sealed by the participants making it hard to tamper. Moreover, the information stored within the blockchain network can be kept both public and private(restricted ) ensuring transparency and security of operations.
