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China Mobile, China Unicom & China Telecom join forces to form blockchain research group

Written by KrASIA Writers Published on 

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The three telcos will join six other companies including Huawei in researching blockchain’s capabilities into the telco industry

Three of China’s major telcos are joining forces with six other organisations including Huawei to set up a joint research group on blockchain and its applications in the telecommunications sector, according to local media site Xiejing on Tuesday.

The joint research group, translated as “Trusted Blockchain Telecoms Application Group” from Chinese, will look into blockchain applications into the telecommunications industry such as contract management, public-key infrastructure, order management, user data management among other topics, according to the report. It will be led by the three major telcos China Mobile, China Unicom and China Telecom.

The joint research group will comprise of 20 experts from companies such as Huawei, finch companies  Union Mobile Financial Technology and ChainNova and blockchain company Hyperchain alongside the three telcos and a national research institute CAICT.

Originated from fintech, the technology of blockchain, thanks to some of its characteristics, such as traceability and almost unable to be modified without leaving any marks, has found itself a wider application in many occasions, ranging from mobile banking and online financing to logistics and warehousing.

In telecommunication, blockchain can be applied in aspects such as Backend-as-a-Service, logistics tracking, inter-operator settlements and other business operations, according to a meeting held by the group a few days earlier.

Source: Xiejing.com

 Editor: Ben Jiang

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