Top telecom operators streamline financial settlement through blockchain solution
Deutsche Telekom, Telefónica, and Vodafone are now calling on operators to join them in creating a new frictionless ecosystem
Singapore — July 13, 2020 — Three of the world’s largest telecommunications companies, Deutsche Telekom, Telefónica, and Vodafone have successfully finalized a trial automated settlement of roaming discount agreements using a solution developed by blockchain-based settlement company Clear.
The first automated settlement trial encompassed a settlement for roaming data from the three providers for 2019. Operator benefits included obtaining yearly settlement results in minutes instead of hours; uncovering data discrepancies visible to both sides in real-time; and the ability to update or correct data instantaneously. Utilizing Clear’s settlement solution, anticipated benefits for telecom companies include faster revenue recognition, lower capital costs, and higher speed and efficiency.
The potential for parties to automate inter-company settlements and flexibly define inter-company deals and workflows allows for the much needed proliferation of business partnerships that will help to provide new services. The network of operators utilizing Clear’s solution for roaming settlement is now onboarding additional operators, with Clear offering free installation and an extended trial to new operators until the end of 2020. Operators who join can examine the platform as a first step to building the new partnerships needed for 5G, Edge computing, and IoT ecosystems.
Eran Haggiag, Co-Founder and Executive Chairman of Clear, said, “To eliminate the complexity and streamline the process of B2B settlements, Clear developed a blockchain-based solution designed to automate contract settlement for enterprises, while guaranteeing control, security, and privacy. This trial is a huge step forward to a world of improved partnerships, minimum disputes, and accelerated innovation."
Initiatives from leading industry bodies such as the GSMA and the GLF are now pushing for industry adoption across multiple use cases. Clear and its partners are committed to aligning with industry standards to assure interoperability and access for all players to the forming networks,” concluded Haggiag.
Johannes Opitz, Vice President Commercial Roaming Services at Deutsche Telekom Global Carrier, said, “Roaming discount agreement reconciliation is a complex, costly process prone to errors. Having an automated system that can not only solve this problem, but avoid it altogether, opens up a world of possibilities for telecom companies, as we move from isolation to collaboration. Using Clear’s solution, operators will now have the ability to transact seamlessly with an ecosystem of partners — a crucial ability in the 5G and Edge ecosystem, in which we foresee significant growth of operators’ business relationships and business models.”
José Antonio López-Jamar, CEO of Telefónica Global Roaming said, “An automated system that can put an end to the complicated and intricate process of roaming discount agreement reconciliation is a welcome move that has the potential to be an improvement for the telecom industry, leading to a more efficient and seamless model.”
Sherif Bakir, CEO of Vodafone Roaming Services, said, “Inter-carrier roaming processes have evolved enormously throughout the history of mobile communications. With new, more complex technologies like 5G and IoT being introduced, even more radical innovation in roaming will take digitalization to the next level. Vodafone believes blockchain is the solution, and its use will lay the foundation for further sustained innovation. Clear’s solution is a solid demonstration of blockchain’s benefits, and we’re delighted to be working with Clear and all our industry partners to grow this ecosystem and build a global network at scale.”
Clear builds blockchain-based settlement and clearing networks for global industries. Founded in 2018, Clear facilitates frictionless B2B trade by enabling enterprises to transition from current inefficient and manual processes to real-time trading and clearing on a global scale. Clear’s platform helps enterprises automate contracts and data management while guaranteeing control, security, and privacy in networks with multiple partners. This also provides automatic payments and clearing, reducing transaction fees, long payment cycles, and managing fraud prevention. For more information on Clear, visit clearx.io.
Telefónica is one of the largest telecommunications companies in the world by market capitalization and number of customers with a comprehensive offering and quality of connectivity that is delivered over world class fixed, mobile and broadband networks. As a growing company it prides itself on providing a differential experience based both on its corporate values and a public position that defends customer interests. The company has a significant presence in 14 countries in Europe and Latin America and over 344 million accesses. Telefónica is a 100% listed company and its shares are traded on the Spanish Stock Market and on those in New York and Lima.
About Telefónica International Wholesale Services (TIWS)
Telefónica International Wholesale Services delivers world-class international services and platforms to multinational companies, wholesale carriers, fixed and mobile operators, OTTs, service providers and aggregators. Offering a global footprint, TIWS provides its customers with high quality connectivity, digital platforms and a wide range of innovative solutions. Its service portfolio includes Voice & UCC, Networking, Mobile, Satellite, Cloud, Security and IoT & Big Data.
Vodafone is a leading technology communications company keeping society connected and building a digital future for everyone. Vodafone is focused on two scaled and differentiated regional platforms in Europe and Africa. We operate mobile and fixed networks in 22 countries and partner with mobile networks in 48 more. As at 31 March 2020 we had over 300 million mobile customers, more than 27 million fixed broadband customers and over 22 million TV customers. We connect for a better future. We are optimistic about how technology and connectivity can enhance the future and improve people’s lives. Through our business, we aim to build a digital society that enhances socio-economic progress, embraces everyone and does not come at the cost of our planet. That is why we have committed to improve one billion lives and halve our environmental impact by 2025.
About Vodafone Roaming Services
Vodafone Roaming Services, a part of Vodafone Group, ensures over 750 million mobile customers around the world can confidently connect abroad and enjoy voice and data services. We steer customers to the best available network and monitor their voice and data quality, around the clock. We also manage the contracts and technical connectivity with more than 700 foreign networks in almost every country of the world, negotiating rates and traffic volumes with our partners. We also make roaming work for other parties, too, with more than 40 mobile operators outsourcing their roaming services to us.
For more information, please visit: www.vodafone.com.