Tech 2 months agoPaul How
UK agency studies blockchain use for landlines
The UK’s Office of Communications (Ofcom) announced that it has received £700,000 ($917,000) from the Department for Business, Energy and Industrial Strategy (BEIS) to explore the use of blockchain technology for the management of landline numbers under its jurisdiction.
In its statement, Ofcom said, “Between now and April 2020, we’ll be inviting industry participants to trial the porting and management of millions of telephone numbers using blockchain and ledger technology.”
Hindrances to managing a database for such a purpose were high costs and difficulty in collaborating among parties. Ofcom said, “We have the chance to test the solution before it is rolled out across the industry. We plan to share key learnings, best practices, and the underlying code base, where applicable, with other regulators.” The benefits of the study, it said, would not just be limited to Ofcom’s mandate, due to other participants in the project.
Ofcom Chief Technology Officer Mansoor Hanif said, “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.”
The agency said that there were about 1 billion landline numbers already in use or reserved, which are issued to telecommunications companies. The challenge, according to Ofcom, was with telco networks moving “from traditional analogue telephone lines to an all-IP (internet protocol) infrastructure.”
Ofcom said that blockchain could help in the process, by facilitating the moving of a number between providers, better handle fraud and nuisance calls, lower costs, and “increased industry agility.”
“Blockchain allows for greater transparency between users and uses underlying open-source software code. It is resilient because the number database can be replicated with each user having a copy. Updates can also be seen in real-time, by all users, but cannot be added to the register,” the agency said.
The BEIS was created in 2016, replacing the Department of Energy and Climate Change, and the Department for Business, Innovation and Skills.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Tech 4 hours ago
Australian insurance company asks, “Where’s the beef?”
An insurance company working for the truck and transport industry in Australia wants to know where’s the beef. According to a report on Australasian Transport News (ATN), National Transport Insurance (NTI) has begun a partnership ...
Tech 1 day ago
Wirex now supports IBAN system for its crypto debit cards
Cryptocurrency enthusiasts in the European Economic Area (EEA) can now take advantage of the Wirex crypto debit card in even more ways. Wirex has announced that cardholders across the EEA are able to add funds ...
Tech 2 days ago
Developer shows how double spending can occur on Bitcoin SV misses mark
One of the reasons cryptocurrency hasn’t taken off as an alternative to fiat as quickly as many enthusiasts would like is because there is generally a wait time associated with the transactions. This delay is ...