BTS joins Hyperledger
BTS takes another step towards offering a global transaction service for telecom operators worldwide by joining the Hyperledger Project. Based on blockchain technology and with an open architecture and design process, Hyperledger promises to dramatically change the way transactions are exchanged between parties and to increase the speed in which new business relationships and models may be implemented. Hyperledger provides the framework for building a new generation of transactional applications with trust and transparency.
What is the Hyperledger Project?
The Hyperledger Project is a collaborative enterprise resulting from the joint effort by actors of very diverse nature: technology companies, banks, startups, supply chains, healthcare, manufacturing… The project is hosted and promoted by the Linux Foundation. Hyperledger aims to explore and create open standards for distributed ledger technology. Its approach —open source, collaborative— optimizes the development of flexible, interoperable enterprise blockchain technologies that can be widely adopted, independently from the nature of the parties involved in the transactions.
Why is BTS interested in blockchain and DT technology?
International telecom industry involves transactions and business relationships with operators worldwide. This industry is plagued with inefficiencies and manual processes, both operational and financial. As an example, although it may be hard to believe, sending hundreds of thousands of rates worth millions of dollars in excel spreadsheets via email is still a common practice. The nature of the business, international at its core and therefore obstructed by these inefficiencies, has been long demanding a technological shift that may facilitate interoperability between regional players and international payments and remittances.
BTS, as one of the more experienced partners in the international telecom sector, wants to participate from the beginning in this paradigm shift. At BTS we are convinced that blockchain technology will lay the foundation of this technological advance, and we are aware of the existence of several distributed ledger platforms underway, Hyperledger being one of them.
Joining the Hyperledger Project at an early stage will provide BTS with a privileged standpoint from where to look at how the platform is developed and at the strategical decisions made regarding its nature and future directions. Also, being part of the project will give BTS an opportunity to learn how other actors view the project and, more broadly, blockchain technology itself.
As a trusted partner to our customers and thinking about how to apply these innovations, we need to be platform agnostic and understand firsthand the evolution of this technology, as well as what the change could mean to business adaptation.
What does BTS bring to the table?
BTS has been present in the international telecom market for more than 25 years, and has established commercial relationships with more than 1000 operators worldwide along the way. This rich experience has provided BTS a deep understanding of the international telecom landscape, and a broad footprint with commercial, financial and technical relationships with mostly all the major operators in the world. BTS wants to leverage this vast amount of knowledge of the market and to use it in order to overcome the many inefficiencies that have plagued it historically.
BTS is all about its customers. And BTS is all about technology. Only from solid technological foundations it is possible to establish healthy and trusted business relationships with other actors. At BTS we are convinced that a completely new way of doing business is possible, and that this change must rely in new —open source, decentralized— technological roots.
BTS has been using, promoting and participating in open source projects from its very beginning. We firmly believe the open source approach is the best model for developing high-quality software available to everyone. The Hyperledger philosophy is therefore a perfect match for BTS, both for the revolutionary way of doing business it promises, and for its decentralized and collaborative development model.