Technology, media and telecommunications

There are numerous possible applications for blockchain technology within the technology, media and telecommunications (TMT) sector. For example, within the media ecosystem, its ability to act as an immutable and up-to-date ledger can enable tracking and tracing of copyrights. This can help to ensure proper collection of royalties, such that artists can receive the revenue that they are entitled to.

Within telecommunications, several use cases have emerged such as the use of blockchain to assist with voice transactions between multiple carriers, ensuring accuracy of call records for more efficient cost settlements, and simplifying identity management with the use of smart contracts whereby far fewer steps are required to in mobile authentication processes.

The cryptographic protections offered by blockchain technology can also ensure security of transaction data as well as sensitive financial information, allowing developments of cross-border money transfer platforms.

More broadly, blockchain technology can also improve supply chain management in TMT. The implementation of a decentralised and tamper-proof record-keeping system can promote transparency and information sharing across the chain, such as with regards to transaction data and over inventory levels. This can facilitate verification and payment processes, as well as improve accuracy of supply chain logistics, while reducing costs and counterfeiting risks.

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