Blockchain Settlement Platform For Telecoms Market Planned By Tomia

Blockchain, Innovation, News | June 24, 2019 By:

Technology company Tomia has announced the development of a new optimized blockchain solution for the telecoms market.

Tomia was formed from the merger of Starhome Mach and Telarix, industry veterans in Roaming and Interconnect, offers transformative connectivity solutions to service providers worldwide. Its offering enables customers to manage a unified optimization process of both roaming and interconnect while driving the future of connectivity through new technologies and services such as VoLTE, NFV, and 5G. With over 500 employees worldwide, regional headquarters in the US, Israel, Luxembourg, India, and a presence in over 30 countries, Tomia serves over 400 operators including 30 tier-1 and six of the industry’s largest groups.

In a press release, Tomia said that the blockchain solution will extend its “market-leading solutions” for the inter-carrier market to include blockchain-based settlements across the interconnect and roaming ecosystems. The solution will utilize R3’s Corda and Microsoft’s Azure Blockchain Service. The tech firm is also partnering with KPMG for consultancy.

“Tomia has been seeing rapid change associated with the digital transformation of the telecoms market that is driving settlement optimization,” Tomia said. “The new solution from Timoa will change the way settlement and dispute management is handled in both the interconnect and roaming worlds.”

Marc Mercuri, Principal Program Manager, Blockchain Engineering at Microsoft, said that Microsoft Azure and Azure Blockchain Service helps Tmia deliver solutions that allow communication service providers to focus more on their customers’ experience and less on managing servers and daily operations.

“The Blockchain Settlement solution addresses a variety of issues related to the telecommunication industry and allows CSPs to take advantage of the flexibility and enterprise-grade reliability that Azure provides,” Mercuri said.

David E. Rutter, CEO of R3, said that as the telecoms market becomes increasingly digitized, there is a significant opportunity to improve the efficiency of settlement and dispute management processes, saving time and costs.

“We think the Corda blockchain, with its focus on security, scalability and performance for enterprise use, provides the ideal technology platform for developing new solutions,” Rutter said. “We’re excited to be engaging with some of the industry’s most experienced and accomplished names, Tomia, KPMG and Microsoft, to work on this project.”