UK landline Regulator Set to Adopt Blockchain for Management
The United Kingdom telecommunications regulator, Ofcom, (Office of Communications), has gotten a grant amounting to £700,000 from the Department of Business, Energy and Industrial Strategy. The grant is aimed at helping the regulator figure out how blockchain technology can be used for the better management of landline numbers across the country.
OfCom is Getting Ready for a Full Blockchain Upgrade
OfCom has made it known that it will commence an extensive research on various methods through which blockchain technology can be leveraged to achieve its aims and objectives. The government approved regulator further made it known that it will be employing the service of industry experts and specialists to achieve its goals of one-day integrating blockchain technology with its preexisting setup. The regulator further confirmed this through its Chief Technological Officer, Mansoor Hanif.
Hanif states that:
“We will be working with industry to explore how blockchain could make it quicker and easier for landline customers to switch providers while keeping their number – as well as reducing nuisance calls. And we’ll expand our research into other areas where innovative technologies such as blockchain could be applied to benefit consumers.”
Over 1billion Potential Digital Asset
OfCom which is a government-approved regulatory and competition authority for the broadcasting, telecommunications and postal industries, currently has about 1billion landline numbers under its management. Some of these numbers are active while others are reserved.
With the grant from the Department of Business, Energy and Industrial Strategy, OfCom will be able to upgrade its record keeping system. The adoption of blockchain technology is expected to have each line recorded as a digital asset, thus improving its security.
Some major benefit to using blockchain technology for its system has been recognized by OfCom. Such benefits include: Adequate tracking, cheap cost of operation, better management of service, improved customer experience and speedy execution etc.
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