Telecoms Streamline Settlement with Clear’s Blockchain Solution

Three of the world’s largest telecommunications companies, Deutsche Telekom, Telefónica, and Vodafone have successfully finalized a trial automated settlement of roaming discount agreements using a solution developed by blockchain-based settlement company Clear.

The first automated settlement trial encompassed a settlement for roaming data from the three providers for 2019. Operator benefits included obtaining yearly settlement results in minutes instead of hours, uncovering data discrepancies visible to both sides in real-time, and the ability to update or correct data instantaneously.

Utilizing Clear’s settlement solution, anticipated benefits for telecom companies include faster revenue recognition, lower capital costs, and higher speed and efficiency.

The potential for parties to automate inter-company settlements and flexibly define inter-company deals and workflows allows for the much needed proliferation of business partnerships that will help to provide new services.

The network of operators utilizing Clear’s solution for roaming settlement is now onboarding additional operators, with Clear offering free installation and an extended trial to new operators until the end of 2020. Operators who join can examine the platform as a first step to building the new partnerships needed for 5G, Edge computing, and IoT ecosystems.

Eran Haggiag, Co-Founder and Executive Chairman of Clear, said, “To eliminate the complexity and streamline the process of B2B settlements, Clear developed a blockchain-based solution designed to automate contract settlement for enterprises, while guaranteeing control, security, and privacy. This trial is a huge step forward to a world of improved partnerships, minimum disputes, and accelerated innovation.

Initiatives from leading industry bodies such as the GSMA and the GLF are now pushing for industry adoption across multiple use cases. Clear and its partners are committed to aligning with industry standards to assure interoperability and access for all players to the forming networks,” concluded Haggiag.

Johannes Opitz, Vice President Commercial Roaming Services at Deutsche Telekom Global Carrier, said, “Roaming discount agreement reconciliation is a complex, costly process prone to errors. Having an automated system that can not only solve this problem, but avoid it altogether, opens up a world of possibilities for telecom companies, as we move from isolation to collaboration. Using Clear’s solution, operators will now have the ability to transact seamlessly with an ecosystem of partners — a crucial ability in the 5G and Edge ecosystem, in which we foresee significant growth of operators’ business relationships and business models.”

José Antonio López-Jamar, CEO of Telefónica Global Roaming said, “An automated system that can put an end to the complicated and intricate process of roaming discount agreement reconciliation is a welcome move that has the potential to be an improvement for the telecom industry, leading to a more efficient and seamless model.”

Sherif Bakir, CEO of Vodafone Roaming Services, said, “Inter-carrier roaming processes have evolved enormously throughout the history of mobile communications. With new, more complex technologies like 5G and IoT being introduced, even more radical innovation in roaming will take digitalization to the next level. Vodafone believes blockchain is the solution, and its use will lay the foundation for further sustained innovation. Clear’s solution is a solid demonstration of blockchain’s benefits, and we’re delighted to be working with Clear and all our industry partners to grow this ecosystem and build a global network at scale.”