The technological advancements and the ever-increasing popularity of digitalization have led to mass digitization in many industries, and the telecom industry is no exception.
The sheer opportunity of how technology could transform this industry by putting immense power in the hands of consumers has attracted entrepreneurs and investors alike to venture into the space.
The advent of technology and Increased Popularity also leads to misuse and hence it's imperative that a proper check mechanism needs to be deployed that is both foolproof and futuristic.
Blockchain technology is thus the identified solution and TSP’s have invested on the same to ensure both the Customer’s, Entities and all other Stake holder’s interest is safeguarded with minimal disruption in services.
Distributed ledger technology (DLT) is the BlockChain technology used for recording the transactions and details in multiple places at the same time. It ensures confidentiality, swift response and easier implementation.
We at Ewyde have invested in a dedicated team to work closely with our clients and help & guide them at every stage of Implementation.
Introduction To DLT
We are increasingly living in a digital world where technology has become an integral part of our lives. One sector that is being transformed by technology in business communication.
Sending messages via short messaging service (SMS) has become a common practice among enterprises, while larger businesses have begun using other forms of secure messaging systems including web chat, video chat and VoIP. The lack of interoperability between these different systems has led to inefficiencies and costs.
However, with distributed ledger technology (DLT), these organizations can enjoy a more efficient system of communications within their ecosystem.
DLT enables both public and private networks to seamlessly communicate with each other at any time on any network regardless of their size or how they’re set up.
This means companies can connect with one another regardless of whether they’re operating on one single global network of hundreds of separate networks in multiple countries.
Benefits of DLT registration
What DLT registration does is that it makes a consumer’s digital presence as important as their physical one. It means that when an organization is doing any kind of business with a customer, they will be required to check if their name has been registered in any Public Data Registry (PDR).
By doing so, they will then be able to keep tabs on how you like to communicate and your preferences in dealing with them. This way they can create more personalized services which would ultimately lead to more trust.
The technology also allows both sender and receiver to know who exactly sent what message, making communication more transparent.
This also prevents fraudsters from spreading fake news or threatening others using anonymous identities. This will ultimately bring down crime rates tremendously especially those involving organized gangs or syndicates.
Moreover, it takes away all worries associated with revealing personal details or information about your family members or children online since only relevant parties are allowed access to these details through secure systems only accessible by government agencies at first instance.
How does DLT help the SMS Industry?
DLT or Blockchain is undoubtedly one of the most talked-about technologies. While there are endless possibilities of DLT based applications, industries like healthcare, real estate and digital marketing are some of those who can make the most use of blockchain-based solutions.
However, lack of security has always been a challenge that stood between its growth and development. But DLT registration will change all that.
With the implementation of distributed ledger technology, trust will be established on a decentralized consensus platform by storing data in multiple places instead of one computer only.
The DLT registration impact on the SMS industry is huge. As most of you know, DLT technology can also be used to create decentralized storage systems, which opens up the possibility of using the data that’s been collected over decades to provide solutions that allow you to customize and personalize your messaging experience, such as having an automated text sent by a company thanking you personally on your birthday or sending you coupons based on where you’re shopping, how often you’ve shopped there and what you bought last time.