In line a recent official announcement published, the grant for around $916,00 USD has been acceptedsupposedly tofacilitatethe U.K. telecoms regulator ‘Ofcom’ to examine how blockchain could improve the management ofland-linephonenumbers.
Established back in the year 2016, the BEISGovt. departmentsupported byforty sixagencies and public bodies andchargeable forbusiness, industrial strategy, science, innovation, and energy along with the climate changepolicy.
According to the announcement, Ofcom islookingto involvebusinessparticipantsto checkthe movement and management of millions ofphonenumbersemploying the blockchain technology,whilethe agency itselfwouldcoordinate the work.
Adding further the statement reads:
“We issue blocksof thosenumbers to telecoms operators,whomanage the numbers and movement (porting) of them into and out of theirmanagement.”
As per the the regulators, previousattemptsto createa centralizedinformation basewentunsuccessfuldue to cooperativebarriers and highprices—the two majorthingsthatblockchain technology could supposedly surpass.
Ofcom notes the potential of blockchain, citingregulativeand businesspricesreduction,more practical management of nuisance calls and fraud, and “increasedindustryagility” as its major benefits.
Ofcom Chief Technology Officer,’Mansoor Hanif’ aforementioned that:
“Wewould be workingwithinthe industryto explorehowblockchaincouldbe employed to createfasterand easier network switching while allowing the landline users keeping their number —moreover reducing nuisance calls. And we’ll expand ouranalysisintoalternativeareaswhereinnovative technologieslike[how] blockchaincan be appliedto benefitcustomers.”
Telephonecorporationsinothercountries also have beenadditionally considering blockchain technology to manage their networks. Earlier in July, China’s3major telecoms operators launched a blockchainanalysiscluster aimed towardbuilding “a trustworthy blockchain application team to explore the blockchainspace.”
Even earlier inJuly, South Korea’s largesttelecom company‘KT Corporation’ launched its blockchain-poweredcommercialnetwork. The firmdesigneda blockchain layer onprimeof its existing nationwide networkso asto createit more secure and transparent,moreoverso as to manageinformation more efficiently.