Arun ShankarNexign and Bubbletone have announced an exclusive partnership to develop an industry-first blockchain-based Business Support Systems BSS solution for the telecom sector. The two companies aim to create a global marketplace for telecom operators, giving them the ability to collaborate with each other and consequently offer individually determined volumes and qualities of services to end users—an option that has not previously existed.
By facilitating seamless and secure exchange of financial and identity information between mobile network operators, phone users and service providers, the solution will enable roaming users to instantly purchase service packages, at local operator rates, using their existing SIM card. Operators will benefit from BSS with embedded blockchain, enabling them to increase the efficiency of their business through rapid and seamless joining of the Bubbletone platform. Once operators join the platform, they will be able to expand their customer bases and increase revenue, without any additional costs, through distribution of digital value-added services.
According to Research and Markets, blockchain in the telecom market is predicted to grow at a CAGR of 84.4% between 2018-2023, driven in large part by increasing support for OSS BSS processes. The blockchain-based BSS solution from Nexign and Bubbletone has the potential to revolutionize the way operators do business and monetize services, for three key reasons:
- The platform creates a global marketplace where operators can publish and share product information as well as buy and resell as-is, or bundle, offerings from other operators, to visitors in their network
- With full support for e-SIM, IoT Apps tokens and any ASP OTT subscriptions, operators can now offer their own authentication service, publish their own tokens and sequences and sell direct to partners without any need for intermediaries
- The blockchain network acts as a clearing house, checking all partial charge volume transactions and mitigating any settlement risks before the billing period ends
Bubbletone is the first decentralised global telecom platform that provides mobile network operators and service providers with an opportunity to interact securely and directly via smart-contracts, without any intermediators, agreements or commitments. As a result, any operator can become global and get direct access to the international telecom market. Operators and service providers can increase the number of their customers and their revenue without making any investments or conducting any complex network integrations. Meanwhile, the platform enables end users to instantly purchase service packages at the rates of local operators using their existing SIM card all over the globe.
“The idea behind this project is to attract as many mobile operators as possible to the Bubbletone ecosystem and show them how easily they can take full advantage of blockchain technology and get direct access to the international telecom market in the digital economy era. Thanks to our exclusive partnership with Nexign, we will be able to provide mobile operators with a complex solution―for smooth incorporation into our blockchain-based platform—that does not require any hardware customization or advanced integration processes,” said Yuri Morozov, CEO and Founder of Bubbletone Blockchain for Telecom.
“Over the past 26 years, through our focus on customer-centric, business-driven innovation, we have consistently created unique solutions for the telco industry that have enabled operators to provide exceptional customer service and grow their revenue streams. Blockchain technology has the potential to open up a range of new and exciting opportunities for operators around the world and we are confident that the exclusive collaboration between Nexign and Bubbletone will result in an industry-leading blockchain-based BSS solution that will deliver business value seamlessly on a global scale,” said Loukas Tzitzis, Chief Products and Marketing Officer at Nexign.
Key takeaways
- By facilitating seamless and secure exchange of financial and identity information between mobile network operators, phone users and service providers,
- The solution will enable roaming users to instantly purchase service packages, at local operator rates, using their existing SIM card.
- Operators will benefit from BSS with embedded blockchain, enabling them to increase the efficiency of their business through rapid and seamless joining of the Bubbletone platform.
- Once operators join the platform, they will be able to expand their customer bases and increase revenue, without any additional costs, through distribution of digital value-added services.
- According to Research and Markets, blockchain in the telecom market is predicted to grow at a CAGR of 84.4% between 2018-2023, driven in large part by increasing support for OSS BSS processes.
