The Web3 space is rapidly taking over the crypto world, and it could soon become part of the traditional telecom industry as well. According to the latest DappRadar industry report, Web3 platforms and blockchain-based applications attracted more unique active wallets in 2022, which skyrocketed to 2.37 million from 1.58 million in 2021. This rapid growth in popularity of blockchain-based platforms is also set to enter the telecom industry, with companies already working on innovative projects. So, what are the benefits of a Web3 telecom service? Reaching new audiences One of the main challenges for telecom service providers is managing costs …

Nepal’s telecommunications regulator has ordered the country's internet service providers (ISPs) to block all cryptocurrency trading websites, threatening legal action against those that fail to comply. In a Jan. 8 notice, the Nepal Telecommunication Authority (NTA) ordered ISPs and email service providers to prevent access to “websites, apps or online networks” related to crypto. It stated that virtual currency transactions “are increasing in recent days [translated]” and reiterated that crypto transactions in the country are illegal. Nepal Rastra Bank (NRB), the country’s central bank, declared crypto trading and mining illegal in a Sept. 2021 notice. “Encouraging” others to use crypto …

Turkey’s electronic vehicle (EV) manufacturer Togg has announced a strategic partnership with Ava Labs to design and build smart contract-based services aimed at improving autonomous mobility. Togg’s collaboration with Ava Labs, a team dedicated to supporting and developing the Avalanche public blockchain, was revealed at the CES 2022 event in Las Vegas. As Cointelegraph Turkey reported, the partnership aims to fast-track Togg’s Use-Case Mobility initiative, which combines different technologies and transportation solutions to produce cars with more functionalities as compared to traditional EVs. According to the official announcement, Togg has been exploring use cases around blockchain and related technologies in …

India’s state-owned telecom Bharat Sanchar Nigam Limited (BSNL) has registered 7,477 businesses on its blockchain-based communication platform after authorities imposed new regulations to protect consumers from spam and fraud. The Telecom Regulatory Authority of India (TRAI) established messaging regulations that require scrubbing consumer communication messages to ensure that the receiver of the message has opted in for such interactions. The drive is supported by BSNL DLT, a content verification platform built on ledger-based blockchain protocols. As the SMS regulation is applicable for all industry verticals, the list of 7,477 registrations includes banks, educational institutions and private businesses. TRAI had reportedly …

A major South Korean telecommunication company, KT Corp, has outlined plans to create a fully electronic documentation service, utilizing blockchain technology to contribute to environmentally conscious ambitions. The telecommunications firm currently provides around 90% of the nation’s fixed-line mobile networks, as well as a further 45% of broadband high-speed internet services. The e-document venture titled “E-document Digital Transformation (DX) One Team” will be a collaborative effort among 14 businesses, with the established objective of reducing the network’s carbon emission output. Once implemented, the initiative will digitize the entire tenure of the paper-based documentation process ranging from creation through to storage …

Verizon has unveiled "a blockchain-based, open-source newsroom product designed to raise the bar for corporate accountability," according to a public statement today. Called Full Transparency, the platform is meant to immutably document the company's own news releases on a public blockchain. Verizon posted its first news story through the platform yesterday, according to comments sent to Cointelegraph by a Verizon representative. Alterations made after the story's initial publication were also recorded. The representative noted, however, that "Only text changes are currently tracked on the blockchain." In recent years, fake news, fact-checking and censorship have caused problems for social media and …

Hackers compromised Telegram messenger and email accounts of multiple cryptocurrency executives last month by exploiting a vulnerability in a decades-old protocol. The fraudsters are believed to have been trying to intercept two-factor authentication codes of victims in an attack on Israel-based telecommunications provider Partner Communications Company, formerly known as Orange Israel. The attacks are currently being investigated by Israel’s National Cyber Security Authority and national intelligence agency Mossad. According to cybersecurity publication Bleeping Computer, the devices of at least 20 Partner Communications Company subscribers were compromised. Israel-based cybersecurity firm Pandora Security’s analysis of the event suggests the devices were likely …

Major South Korean insurance firm KB Insurance plans to implement a blockchain-enabled mobile message delivery system for its clients. According to a June 9 report by industry news outlet Ledger Insights, KB will use the system jointly developed with local telecommunication firm KT Corp starting next month. The service will at first deliver payment and termination notices to auto insurance customers, but the firm plans to expand it to all its customers. The purpose is to reduce mailing costs and non-delivery of notifications. Blockchain ensures the message delivery The new message delivery solution uses blockchain to send insurance policy changes …

Verizon Business has announced the inclusion of new security services, including two new administration and identity access systems using blockchain-based technology. These are Verizon Identity (VID) and Verizon Machine State Integrity, which are modeled within a Blockchain environment, according to the US technology firm on March 5th. In the case of VID, identity information is encrypted and subsequently distributed through multiple servers in the blockchain, so there would not be a centralized base that can be attacked by cybercriminals. According to the company, Verizon ID will allow users to store their access credentials in a “secure digital environment” on their …

Spanish telecommunications giant Telefonica has reportedly partnered with the local Association of Science and Technology Parks (APTE) to grant access to its blockchain to about 8,000 firms in Spain. According to a report published by telecom news outlet TotalTele on Jan. 9, Telefonica will deploy nodes of its Hyperledger-based blockchain at APTE’s 52 sites. During the three-month-long testing period, firms will be encouraged to develop applications on the network and allowed to experiment with their own tokens. Telefonica partnered with IT giant IBM in November 2018 to apply blockchain technology to managing international mobile phone call traffic. A project backed …

Maltese government agency supporting business development, Malta Enterprise, signed a memorandum of understanding with Blockchain-as-a-Service service firm T-Systems, parent company Deutsche Telekom announced on Oct 30. Deutsche Telekom launched the Blockchain Ecosystem (GBE) at the end of last month, as reported by Cointelegraph Germany. Now, the Maltese agency will become T-System’s first partner gaining access to the GBE, which can reportedly be used to track a product’s value chain from raw materials to delivery alongside other tools that can facilitate blockchain development. Malta Digital Innovation Authority to certify T-System’s GBE companies The collaboration also includes a planned tech accelerator called …

Union Mobile, the fourth-largest mobile carrier in South Korea, announced the launch of its blockchain project called ELYNET. Using blockchain to make communication more efficient On Sept. 11, Union Mobile announced that ELYNET aims to use blockchain technology to make telecommunications more efficient for those users who rely on a single carrier for telecom service. ELYNET will purportedly allow users to use data communication services without roaming fees and contracts. Union Mobile's CEO Seyong Ro explained that the platform will launch with an accompanying token, stating: "This will help us to realize our business. When users connect to the communications …