Turkcell Introduced Blockchain Identification System
Turkish telecom and digital operator Turkcell has developed a blockchain system for identifying clients. The new system will be utilized in remittances and donating.
Daily Sabah, the Turkish operator introduced the blockchain identification system at the Mobile World Congress conference held in Barcelona.According to the
The innovative system should speed up transactions in the telecom industry. Blockchain can also be used in roaming clearance, customer identification, and also donating money.
According to Turkcell, the current identification system has many flaws. To be specific, the operator's subscribers are forced to create multiple accounts on different platforms. Because of this, their data is often ending up in the hands of third parties, and customers do not even know about it. The new blockchain identification will remove intermediaries, as well as create a unified approach to customers’ authorization. At the same time, the system fully complies with the GDPR rules, which means the subscribers will gain absolute control over their data.
Turkcell has joined the blockchain consortium Carrier Blockchain Study Group to develop the system.
This week, the Japanese financial conglomerate Softbank also announced the development of blockchain identification and authorization system. For its development, Softbank has teamed up with the US blockchain startup TBCASoft.