Blockchain Technology To Prevent Fraudulent Phone CallsBlockchain Technology- A Revolutionary Step To Prevent Fraudulent Phone Calls(2020 Updated)

May 22, 2019by Nagasyam0

Blockchain technology to prevent fraudulent phone callsBlockchain technology

It is a revolutionary technology that deals with peer to peer data connection and gives an open and decentralized network for use. Blockchain system is a distributed network and the ledger holds every single transaction for every user to see. Every single node on the network has a copy of the ledger. This type of approach ensures total decentralization. Beginning with cryptocurrencies like Bitcoin, it has now expanded to a totally new level usable for multiple applications. Industries such as banking, healthcare, insurance, supply chain and telecommunication can increase their efficiency using this new technology.

Blockchain technology in telecommunication

Implementing blockchain into telecommunication sector for preventing and controlling fraudulent phones and messages may open up future doors of opportunities. TRAI, Telecom Regulatory Authority of India notified draft rules to help consumers block unwanted calls and pesky messages. TRAI seeks blockchain support to put brake on pesky calls and texts. In this backdrop, blockchain has proven useful where the objective is to cryptographically secure information and make it available only on need to know basis.

Blockchain technology to prevent fraudulent phone callsTech giants are developing blockchain solutions to curb spam calls with respect to the TRAI proposal. Telecom companies in other countries are also deploying blockchain to monitor their networks. China launched a blockchain research group which aimed at developing a credible blockchain application team to scrutinize the blockchain era. Recently, South Korea’s largest telecom company introduced its blockchain-based commercial network.

Few companies like Microsoft, Tech Mahindra and AT&T have come up with blockchain technology

driven mobile applications that facilitate automatic blocking of fraud calls and warn the users about other potentially unwanted calls. Using the revolutionary solutions, mobile users can register their number once in a related app to prevent spam calls and messages.

AT&T has developed a product called “Call Protect” which is a carrier-based service designed to detect and prevent fraud calls from reaching consumers. This system relies on intelligence on the network level to identify and block fraud calls.

Avaya INC has developed a blockchain technology to prevent fraud authorization and authentication thereby ensures secure interactions. This blockchain solution can be stored and maintained with the mobile carrier and it can continue to grow. To keep such a large amount of data, the carrier’s Home Subscriber Server (HSS) is employed. In this technology carriers and networks try to avoid fraud by executing a highly secure certificate exchange code.

Blockchain technology driven applications in smartphones is one of the emerging technologies and will play a major role in telecom industry. Considering the total number of mobile phone users worldwide (62.9%), there is a scope for rising spam calls which leads to a demand for more innovative solutions that can prevent fraud calls and provide security.

Source:

https://telecom.economictimes.indiatimes.com/news/trai-notifies-draft-rules-to-help-consumers-block-unwanted-calls-pesky-messages/64368584

https://www.att.com/features/security-apps.html

https://patents.google.com/patent/US20170295157A1/en

https://www.statista.com/statistics/274774/forecast-of-mobile-phone-users-worldwide/

Read more: https://www.prometheusip.com/inspirational-business/edge-computing/

Nagasyam

Nagasyam

Nagasyam has more than 9 years of experience in intellectual property research. He leads the patent and technology research practice at Prometheus IP. Nagasyam has extensive experience in preparing patent research reports, extracting market insights and conducting pre and post launch product/service research.

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