A recent interview with China Telecom’s chairman Jiang Wei shows that blockchain technology has high potential use cases to enhance the 5G network services which are being rolled out all around the world.
According to Jiang Wei who is the chairman of China Telecom Blockchain and Digital Economy Join Laboratory, blockchain tech has significant use cases that could improve the 5G mobile network. An interview with him published on the Chinese news portal Cebnet shows that the distributed ledger technology is now in the spotlight.
According to estimates by China Telecom released in 2019, the 5G services in the country are expected to have approximately 170 million subscribers by the end of 2020. Wei noted that China Telecom expects blockchain to play a crucial role in trusted management, promoting safe interaction and efficient collaboration between multiple participants of the network and devices.
In the interview, China Telecom’s chief Wei also stated that blockchain in 5G will introduce social capital – which will help the industry crowdsource the 5G infrastructure. He also noted that he believes blockchain will help realize 5G resource sharing and usage tracking.
Meanwhile, the latest blockchain news show that China Telecom is also experimenting with the technology to improve international roaming services. Wei said that blockchain is a key way to eliminate the need for third parties. If he is right about this, it could make related services more seamless and convenient.
“Before we could see an efficient integration of blockchain and 5G, there are multiple issues that need to be dealt with blockchain technology,” said Wei. “Of those, the legality and security aspects of smart contracts are a major concern.”
From a design perspective, Wei noted that “smart contracts cannot be repaired or upgraded” which is why he believes that “5G smart contracts” are the future, formulating standardized solutions for bug fixes and upgrades.
Lastly, the executive at China Telecom said that scalability and interoperability are still the two hurdles that hinder the integration of blockchain and 5G. With proper cooperation and experimentation, however, Wei believes that we can still integrate both of the technologies and lead to better communication services around the world.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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