Emerging technologies, such as blockchain, offer a number of opportunities to drive further digitisation of the carrier business model, delivering efficiencies and underpinning the industry’s collective capability to offer new services (such as capacity on demand where current settlement processes are suboptimal).
The ITW Global Leaders' Forum (GLF) is actively driving efforts to define and develop an approach for the industry through its blockchain working group.
Blockchain, or distributed ledger technology (“DLT”), can provide significant benefits that will transform inter-service provider settlement processes by enabling automation and improving security. DLT-based automation can facilitate carriers to settle new types of traffic, underpinning network and service innovation, and save costs.
Communications Business Automation Network (CBAN)
Automating the Business of Communications
In June 2019, The ITW Global Leaders’ Forum (“GLF”) formally launched a special purpose vehicle with the aim of developing a live, blockchain-based platform, which will revolutionise the ICT Service Provider industry’s commercial settlement infrastructure, representing an opportunity worth billions to the global industry from costs savings and revenues from new products and services.
This SPV evolved into the Communications Business Automation Network or CBAN.
CBAN is governed by a collaborative structure. Several carriers were involved at it launch, with A1 Telekom Austria, China Telecom Global, Colt Technology Services, Deutsche Telekom Global Carrier, IDT, Orange, PCCW Global, Tata Communications, Telefonica, Telstra and TNZI all agreeing collaboration to ensure that this blockchain-based, special purpose mechanism could become a reality. Over 10 technology providers confirmed, at the same time, their intention to participate in its development, including Amartus, Clear Blockchain Technologies, ConsenSys, CSG and their Wholesale business, Difitek, IBM, Internet Mobile Communications, Orbs, R3, Subex, Syniverse, and TOMIA. Since its launch more carriers and technology providers have become involved.
