Future of telecom industry unveiled at Paris Blockchain Week

cointelegraph.com:

Paris Blockchain Week has risen to the public’s attention as one of the most esteemed annual events in the industry. The event has since aimed to bring together blockchain enthusiasts, developers, entrepreneurs and other stakeholders from across the globe to explore the latest opportunities in the blockchain industry. Participants can engage in various activities at the event, including keynote speeches, panel discussions, workshops, hackathons and networking events. Through these activities, Paris Blockchain Week continues to give organizations and individual thought leaders a chance to spark ideas and present solutions for mass adoption. One of the most notable at this year’s event was using the decentralized ledger in telecommunications.

At present, the telecom industry is largely built around billing and payment processes, which directly impact revenue and customer satisfaction. Unfortunately, traditional centralized systems for these functions often result in errors and inefficiencies due to the highly complex nature of these systems. With errors come customer disputes, and with disputes often comes revenue leakage, which can significantly hurt a company’s profitability over time.

In addition to being error-prone due to a lack of transparent systems, companies in the telecom industry also face challenges with security, especially hacks by malicious entities who want to exploit vulnerabilities in the system for their own personal gain. Although just one example, fraudsters have been known to use phishing, among other methods, to gain unauthorized access to data or to manipulate call records or other billing information.

A third challenge comes down to roaming. Customers traveling abroad can face high roaming costs,