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Using Blockchain to Manage the Complication of Small Cells
Blockchain has gone through its advertising cycle much faster than many other technologies. Bitcoin’s cult success spawned a legion of fans who saw blockchain as the answer to everything. The reaction was quick, however, and the phrase “blockchain is a solution to a problem” quickly became a cliché. As with all ad cycles, blockchain is now in a reasonable middle ground: it’s not the answer to all problems, but a solution with many compelling specific use cases.
One such use case is creating smart contracts to support complex agreements between the parties. Instead of using legal language that is usually mysterious and difficult to parse, intelligent contracts use the code. The specificity of the system means that there is little room for ambiguity. By breaking down the complexity into lines of code, arrangements can get much more complicated without either party losing confidence in them.
Using blockchain as the ledger makes it easy to track and review these contracts. Each block serves as a trace of activity: a fingerprint that changes over time. When a block is changed, each subsequent block retains the footprint of that activity by generating a new tag or “hash”.
An example of using these smart contracts is to stream music. When a user symbols up for a piece of music flowing service like Spotify, exceptional deals keep track of the songs being played. License fees are charged for each artist at the end of the month. This is not an easy calculation as the various royalties go-to band members, songwriters, music labels, producers, etc. These deals are usually incredibly complex even before you even consider the tens of millions of subscribers and a vast music library. Smart contracts reduce complexity by automatically tracking components.
So it stands to reason that blockchain-based smart contracts that can help resolve complicated relationships in the music industry can do the same for the telecommunications industry, especially the parts of the network. It gets as complicated as any music—industrial contract.
Smart contracts in the Mobile Network
How do these contracts work in practice? Suppose a telecommunications operator wants to buy a line from another network operator. To enter into a smart contract via blockchain, you must first enter the public and private key of the smart contract. In this example, the intelligent agreement requires the operator also to enter the order and billing details.
As soon as the operator presses the enter key, the order registered and validated by a node in the network. The request is then extra to the blockchain and is evident to the other operator. If additional documents are added or other changes are made, these will also be linked, tracked and recorded in the blockchain in the future. Most blockchains are public and anyone can view the information. However, private blockchains also used. Material stored on the blockchain, whether public or private, can also encrypted to ensure that it remains secure and private.
Who Operates these Blockchains and at What Price?
They effectively outsourced. You don’t have to set up an expensive data center to process a large amount of information. Instead, blockchain users pay pennies to data miners every time they add new blocks. Making smart contracts very inexpensive and completely autonomous. There are also no administrators or support staff to paid.
Sure, it can advocate smart rights, but influencing an industry that can handle the status quo is an administration. For participation, it may be best to focus on a use case where the better understood smart rights: small cells.
The rights of 5G phone also include the rights of hundreds of thousands of small cells in cities and towns over the years. This is changed to the best solution for a technology with a very reduced effective range and a different view through a given one. Employees have to find new base stations themselves or in collaboration with other people.
Many of the best websites for these personal cells have complicated right of way issues that need to listed. Each municipality has its own set of rules governing government contracts between transportation companies, equipment suppliers, landowners, technology partners, and government agencies. The wrong amount and information need to +heard, and no new leading industry standards. This is a new wild west frontline in telecommunications. And blockchain can also turn out to be capital for reselling and the time and loss of time managing the powers of that information.
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Additionally, small cell deployments offer many new opportunities for lost revenue. Given the huge capital investment required to densify the network. Margins are low and there is little room for error when it comes to small cell contracts. The risk of tied to a “bad deal” in the long run is all too real. Blockchain is the right solution for contracts with small cells, especially since everything stored safely, correctly and in the same place. Smart contracts link role-based orders, quotes, offers, and railings to protect margins. Invoices generated automatically and changes can verify at any time.
This may be the beginning of the use of blockchain in cellular networks. Especially in combination with robotic process automation, many of today’s manual BSS and OSS processes can optimize, automated and linked using blockchain.
Now that the industry has become sensitive to blockchain and does not see this as a fad or a panacea. We can begin to explore practical and valuable uses for this technology, especially when correct changes and complex agreements required.