The B2B telecommunications market is expected to surpass $100 billion globally by 2026. This is reflective of adoption of the Internet of Things (IoT) across various sectors. Further growth is likely to be driven by a number of disruptive elements, such as blockchain-oriented Internet technology. To enact this form of blockchain requires revamping some of the Internet’s core protocols and routing mechanisms.
The reason for this interest in blockchain, is because blockchains appear as an ideal distributed medium for making communication and packet routing across the Internet more secure and efficient.
A further reason for the interest in blockchain for telecoms is due to weaknesses with current communications technology in general and some social media providers in particular. This includes revelations with Facebook’s WhatsApp chats which were not being encrypted end-to-end; plus, the backdoor capabilities of work communication tools like Slack, and reports which showed Facebook provides third parties with direct access to private Messenger chats.
As an alternative, the implementation of blockchains provides a more secure means for maintaining digital privacy, such as with making network infrastructure more reliable and accessible, as well as being made available at lower costs. Blockchains have the potential to be an ideal distributed medium for transforming both communication and packet routing across the Internet into something that is more secure and efficient.
One example of this application is Beowulf, which is scalable for future for global enterprises of any size.
This solution is based on a decentralized cloud network aimed at providing customizable communications for businesses. The Beowulf model includes a front-end platform for in-house developers so that hey can customize the communications experience across mediums.
In addition, the Beowulf network uses artificial intelligence to allocate routing pathways and resources across a telecommunications infrastructure. The technology is also end-to-end encrypted, which overcomes the problem that Slack faced recently.
This solution has been used with companies like Gifto, Carbon Grid Protocol, plus healthcare providers and universities.