Blockchain network to blossom?

Colt Technology Services and Zeetta Networks will reveal a world first Proof of Concept (PoC) demonstration ‘Blockchain-Based Carrier Marketplace for LSO Sonata’, on 29^th October 2018 at MEF18. The PoC will demonstrate how network carriers can buy and sell network services in a secure, distributed and trusted marketplace. This will significantly lower the cost of business-to-business interactions for network service providers, and increase the size and efficiency of the market.

As the world’s network carriers seek to work more closely to enable a seamless experience for their customers, the scale and complexity of business interactions between all parties in the network service value chain will increase. A secure, distributed system is required, with watertight security to maintain business privacy and transaction integrity.

Vassilis Seferidis, CEO of Zeetta Networks, said: “With the rise of 5G networks and the requirements for low latency and high bandwidth applications, automation of business-to-business interaction is required for the optimum utilisation and monetisation of network capabilities. This goes beyond the traditional VPN connectivity offered today by incorporating network virtualisation and slicing.  Zeetta’s patented Smart Contract technology automates the commercial transactional process, allowing carriers to trade interconnect slices and restructure and re-purpose network slices to match the exact requirements of customers and their applications.”

A distributed ledger, or Blockchain based solution, creates an environment within which business can be securely transacted, with the automation required to support dynamic network services and assurance. Carriers and providers can then execute Smart Contracts with potential business partners in a private, secure environment with all interactions encrypted and recorded in the chain, reducing the complexity and costs while driving market demand for global connectivity.

‘Blockchain-Based Carrier Marketplace for LSO Sonata’ will be presented by Ian Teasdale, VP of Sales & Marketing at Zeetta Networks, and Mirko Voltolini, Head of Network on Demand at Colt Technology Services as part of the Proof of Concept Showcase at MEF18.

Colt enables the digital transformation of businesses through its intelligent, purpose-built, cloud-integrated network, known as the Colt IQ Network, and is working with Zeetta Networks to deliver the innovative blockchain solution for network carriers. 

Mirko Voltolini, Head of Network on Demand at Colt Technology Services, said:

“Blockchain technology is a disrupter to the slow and error-prone manual approach most traditional business processes have been run so far. Above all, it removes the need to have a trusted third party intermediary to carry out B2B transactions among multiple entities. Coupled with SDN it has the potential to extend automation from the network to the business, it’s a revolution to the telecom market.”

Over a thousand attendees from more than 275 companies and 35 countries will be attending MEF18. The event empowers industry stakeholders with high-quality content, extraordinary peer-to-peer networking opportunities, and provides valuable insight into cutting-edge services and technologies.

Pascal Menezes, Chief Technology Officer at MEF18, said:

“MEF18 Proof of Concept demonstrations, like this collaborative effort involving Zeetta Networks and Colt Technology Services, are crucial to accelerating development and worldwide adoption of assured services, orchestrated across automated networks with MEF 3.0. We are delighted by the tremendous support of leading service and technology solutions providers who are participating in this year’s PoC Showcase. Dozens of companies will be involved in 20 demos. We have nearly double the number of participants compared to last year’s popular showcase.”