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Business & Finance

Blockchain becomes focus as WorldCall Telecom, WMG enter into close commercial cooperation

  • Blockchain-secured service management solution to open up avenues of network monetisation, says WTL in statement to PSX
Published July 12, 2021

Blockchain technology became the focus of attention as WorldCall Telecom Limited (WTL) entered into a close commercial cooperation with the World Mobile Group (WMG) for the deployment of a service management solution earlier this month.

The blockchain-secured solution deployment, announced by the company through a notice to the Pakistan Stock Exchange (PSX), is for the provisioning of affordable broadband connectivity across the country in addition to WTL's existing roll-out projects.

The company announced that all its subscribers would be integrated into the digital landscape through an identification number, and the attached e-Wallet would be secured through authentication protocols.

The development comes at a time when Pakistan is moving faster in adopting digital technologies amid the Covid-19 pandemic that has pushed consumers deeper into the online space. The announcement also coincides with the wider consumer move for on-demand services, and the popularity of blockchain technology that promises to be a game-changer, according to experts.

“Subscribers would join the digital economy eco-system and, using this unique Digital ID, all forms of on-demand services targeting education, health and other service sectors can be launched,” stated WTL in the statement.

“WTL is currently undertaking an aggressive roll-out with ‘Fiber To The Home’ (FTTH) and ‘Broadband for All’ projects.”

The statement added that the WMG solution opens up avenues of network monetisation with telecom operators remaining an integral part of the value chain.

“With its fiber optic infrastructure and network connectivity already in place, subscriber signup and connectivity would be significantly higher in its current FTTH and Broadband for All projects.

“Through use of this technology, WTL would target a revenue upside from its broadband connectivity and augment its revenue streams with minimal costs.”

WTL made a profit of Rs83 million in the six-month period that ended June 2020, according to its latest financial results made available on the PSX website. 

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