In brief

11 May 2018

Telecoms

PCCW Global, the international operating division of HKT, Hong Kong’s premier telecommunications service provider, and Colt Technology Services have further progressed their blockchain Proof of Concept (PoC). Additional members of the ITW Global Leaders’ Forum (GLF) are also getting involved in the initiative.

PCCW Global and Colt, in conjunction with blockchain start-up Clear, revealed in March that the parties had undertaken a trial that demonstrated how the inter-carrier settlement of wholesale international services could be automated through the use of blockchain. By using blockchain technology, the PoC was able to reduce this labour intensive process from hours to minutes.