Universal Commerce (blockchain platform)

2020: Announcement

At the beginning of April, 2020 the supplier of telecommunication services of Syniverse and IBM developed a blockchain platform for billing and interoperator payments.

Telecommunication companies should verify often data on services which their clients use in roaming. Exceptions should be processed almost manually. At the same time already difficult process becomes complicated even more as a 5G and IoT offer all new business models. The research conducted by Syniverse showed that the 5G forces 60% of the companies of mobile communication of the USA to change approach to accounting. About 90% of respondents were concerned by practicality of drawing of accounts and payments.

The supplier of telecommunication services of Syniverse and IBM developed a blockchain platform for billing and interoperator payments

To facilitate a share of telecommunication companies, Syniverse and IBM provided the Universal Commerce blockchain platform which completely conforms to the new GSM Association standards concerning processes of billing and charge of a payment. In 2019 Syniverse carried out the pilot Universal Commerce program with the French telecommunication company Orange and the Russian MTS, the pilot used the IBM Blockchain platform. Later Syniverse integrated Universal Commerce with Samsung Nexledger Universal based on a blockchain.

Using a blockchain, Syniverse aims to satisfy requirements of the interconnected networks and multilateral transactions, providing to all participants of the transaction exact data. The platform can be used by any mobile operator and also other partners and will automate the majority of processes of drawing of accounts. Automation became possible thanks to smart contracts. They allow to code rules and commercial agreements for each transaction type between partners.^[1]

You look also the Blockchain and cryptocurrency

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