“The Leap of 5G technology in the telecommunication industry can be made bigger with the help of Blockchain”
The massive rise of the telecommunication industry has made it one of the biggest growing industries since the last decade. The decentralized approach of blockchain technology has the potential to make 5G networking powerful and robust. The removal of third party agreement and elimination of the non-authentic middlemen , builds the system highly secure and trustworthy. In processing of various applications such as IoT mobile banking, gaming applications and others, blockchain can compliment 5G to a larger extent. Blockchain combined with 5G, AI and IoT can definitely make the mobile devices seamless and powerful.
As curious as people are to try out new technologies that come in, especially mobile technology, they also feel a risk of trusting the system fast. Mobiles phones are where the user data shared and stored are highly confidential and sensitive. Security is a major aspect that the users are concerned with , not just for payments but for data security as well. Blockchain if combined with telecommunications technology like 5G, can help resolve these challenges.
Advantages of 5G tie-up with Blockchain :
Safe mobile banking:
Today cell phones are used for almost everything, right from shopping to banking transactions to gaming. Banking through the bank applications can sometimes be vulnerable and prone to risks of frauds. With its distributed ledger data storage approach, blockchain promises high level of security and a safe mobile banking.
5G itself implies faster processing of the functions and operations. Bloackahin can take it ahead and can help to make it even faster.The decentralized methodology lowers the bottlenecks that occur and make the transactions and operations happen seamlessly. After all, it’s all about time. Faster and accurate the system, better user experience it gives.
Secured Sim cards:
Encryption technologies used for sim security, through smart contracts of blockchain, makes the 5G sim secure and powerful. Blockchain as a technology has a potential to safeguard the 5G technology. All the contacts and confidential details are stored on SIM. Hence SIM security is as important as the data on the mobile. Blockchain resolves the security issues.
Faster and safer payments:
5G resembles the revolutionary future of payment services through mobile devices. Along with tackling the security risks, it’s important that the transaction happen faster without hampering the data integrity. Blockchain’s method of data sharing and storing, ultimately makes the processes faster. Hence promising comparatively faster and safer mobile payments.
The peer-to-peer methodology that the blockchain follows, eliminates the need of third party authorities. This reduces the operation cost along with building trust within the smart contract partners. Faster, safer and cost effective systems can be the future, if we implement blockchain in collaborating with rising technologies.