The startup Clear automated the blockchain settlement for roaming data for three major telcos for 2019.

Clear, a blockchain startup founded in 2018, specializes in removing complex frictions in B2B trade. One such pain point is the contractual settlement and reconciliation for roaming agreements between telecom operators. Clear came up with a blockchain solution for the settlement of roaming discount agreements for Spain’s Telefónica, Deutsche Telekom, and British provider Vodafone. (COIN TELEGRAPH)

Trial solution

Telefónica, Deutsche Telekom, and Vodafone jointly finalized an automated trial solution for roaming settlements. It used roaming data from the three telcos for 2019.

The system provided annual settlement results within minutes. Further, it also shed light on data discrepancies and allowed for their amendment or update immediately.

Johannes Opitz — vice president of commercial roaming services at Deutsche Telekom Global Carrier said: “Roaming discount agreement reconciliation is a complex, costly process prone to errors […] Using Clear’s solution, operators will now have the ability to transact seamlessly with an ecosystem of partners — a crucial ability in the 5G and Edge ecosystem, in which we foresee significant growth of operators’ business relationships and business models.”

CEO of Vodafone Roaming Services, Sherif Bakir, said: “With new, more complex technologies like 5G and IoT being introduce, even more radical innovation in roaming will take digitalization to the next level. Vodafone believes blockchain is the solution, and its use will lay the foundation for further sustained innovation. Clear’s solution is a solid demonstration of blockchain’s benefits.”

Clear had telecom backers

Telefónica Innovation Ventures and the Telekom Innovation Pool of Deutsche Telekom had invested in a $13 million Series A investment in Clear Technologies earlier this year.

The funding round was led by Eight Roads, with participation also from HKT and Singtel Innov8.

Related Story:    5G-Themed, “The First 5G ETF” (NYSE: FIVG) Rakes in $200 Million