The pilot created by IBM and Syniverse was designed to instantly validate the billing and charging processes for clearing and payment services. The smart contracts on which the pilot is based synchronize and execute the processes between mobile operators.
Dennis Meurs, Syniverse’s Vice president and general manager for transaction and clearing services, said regarding the partnership:
“In today’s age of digital transformation, a business is only as strong as its connections, and this is especially true in the area of clearing and settlement. With the growth of today’s interconnected networks and emerging online technologies, the future of clearing and settlement lies in the ability to securely clear and monetize any type of connected transaction, whether it’s for roaming, the internet of things, or any other process.
In collaboration with IBM, we’ve integrated the power of blockchain to design a pilot that addresses several business challenges, and a solution that builds on Syniverse’s 30-year-plus history of solving clearing and settlement challenges in the mobile ecosystem.”
The project was trialed using two international communication companies, Orange and TeleSystems (MTS). Orange worked alongside IBM and Syniverse in the implementation, testing, and feedback of the solution. Based on the specific steps featured in the pilot, the pilot will reportedly boost operational efficiency in terms of call event creation and data exchange.
MTS Russia also reported that the trail saw significant improvement in its clearing and settlement for roaming, which is due to operational efficiency, auditability, and smart contract management. MTS also stated that the project allowed for the direct creation, validation, and viewing of all partners using the smart contracts.
“In an industry that is driven by data, mobile operators will now be able to leverage blockchain to help improve efficiency and settlement times while delivering an enhanced customer experience.
Together with Syniverse, we’ve designed a blockchain platform solution that has potential to change the clearing and roaming business process and enable mobile operators to improve collaboration with business networks and get value from data which is becoming more vital. than ever in today’s evolving technology landscape.”- said Utpal Mangla, Vice President and partner of Blockchain at IBM.