It was our great pleasure to participate at the inaugural CBAN Showcase event held virtually from 3 -5 November 2020.
This three day event included participation from prominent CBAN member representatives and industry participants and served as a platform to present and discuss new opportunities and challenges in the telecom industry.
The progress made during the last three years in regard to automatization, as well as the ever-evolving market, have brought forth the necessity for service providers and technology developers to work together to automate business communication.
The market requires the evolution of more complex B2B and B2C products with the participation of multiple parties.
Automatization of contracts and settlements is a must, as well as improvements in connectivity, security and latency to support new regulations, new products, and new applications between customers and the industry.
By utilizing DLT technology, we are able to provide a trustless environment for setting contracts on this multi-dimensional ecosystem, automating faster payments and solving billing mistakes/fraud.
The new blockchain based standards and certifications of interoperability allow for an easier and more imminent use of this new technology in the industry.
During the event, there were multiple demonstrations of solutions from technology provides like QLC Chain, developed in collaboration with industry telecom companies.
This supports the acceleration of adoption cases as more companies can join to use those demonstrated solutions.
During day 1 of the CBAN Showcase, Alen Breznik, Senior Team Leader from QLC Chain presented a demonstration titled “Automated Commercial Layer on Blockchain for Network Services”. The demonstration showed the complete workflow; new account registration, FIAT to cryptocurrency exchange, the settlement of an international data on-demand contract, as well as the generated invoices.
The following day, Andreas Freund represented QLC in the session titled “Why does automation form a key part of digital transformation for the whole industry? “. In it, Andreas talked about the CBAN Architecture on which work started in July 2019, while the final version is expected to be ratified in December 2020. Its goal is to support the interoperability of businesses through the use of DLT and it targets to be scalable in terms of business models (MVPs), core services and parties like service providers and ICT-SPs.
The goal, after all the work that has been done in the last years, is the adoption of the created standards, done in collaboration with the telecom industry. As the volume of their businesses and the number of available products in this multi-billion dollar industry grows, the necessity for the adoption of those standards is becoming clear.
About QLC Chain
QLC Chain aims to resolve the data trust and security problem in the communication industry, it provides network automation of billing/reconciliation/settlement/payment/custody to telecom operators utilising blockchain technology.
QLC Chain offers telecom operators with inter-carrier connection and financial consultancy services as well.
From the ledger structure perspective: QLC Chain supports each account to have its own chain of ledger integrated with telecom service capabilities, named the multi-dimensional block-lattice structured ledger.
From an adoption scenario perspective: QLC Chain’s mission is to create a secure and trusted environment for communication services and to narrow down the digital divide by leveraging Distributed Ledger Technology, enabling everyone to operate and benefit from network services.
QLC Chain solution suite includes:
- A blockchain-based DoD (Data on demand) platform to process inter-carrier settlements in a trustable, auditable and automated manner and enable frictionless on demand commerce and federated network for information and communications service providers
- A blockchain-based A2P SMS settlement platform with its product suite including an A2P SMS settlement solution; Anti-SMS swap solution, and QLC Chain soft-sim identity for IoT devices.
- A blockchain-based DID (Decentralized ID) communication authentication solution which is intended to authenticate, authorize, and access blockchain identities and security properties in network service such as SD-WAN/MPLS/cellular network/5G slicing network.
- A solution that enables enterprises and operators to use crypto wallet and stable coin payment for supply chain.
Learn more about QLC Chain https://qlcchain.org/