Subex has announced that it will be a part of the ITW Global Leaders’ Forum’s Communications Blockchain Network (CBN), a blockchain-based consortium which aims to revolutionize the ICT Service Provider industry’s commercial settlement infrastructure.
Through its mission to accelerate the adoption of automated settlement applications, CBN represents an opportunity worth billion to the global industry in terms of costs savings and revenues from new products and services.
The ITW Global Leaders’ Forum is a global network of leaders from the world’s largest International Carriers, who convene to discuss strategic issues and to agree collaborative activities, with the aim of upholding the principle of interoperability and ubiquitous international and technological coverage.
The CBN, which is expected to go live in the coming months, will be governed by a collaborative structure. Besides technology providers like Subex, the platform will see support from 11 leading global carriers to ensure this blockchain-based, special purpose mechanism can become a reality.
The objective for the platform, and the collaborative industry-wide governance framework, is to facilitate development of open-source standards and APIs that enable service-provider interoperability of DLT-enabled services and manage critical infrastructure elements of the platform.