Combining 5G and blockchain technology can open up a whole new world

5G rollouts in India are likely to start this month and could have a major impact on how services are delivered to consumers and businesses. 5G is expected to redefine various industries globally such as transportation, healthcare and logistics. Unlike 3G and 4G, which greatly increased data transfer speeds for smartphones, 5G will allow a variety of connected devices to interact with each other.

Experts believe 5G will be a potential enabler leading to widespread adoption of blockchain technology in several aspects such as trade finance, logistics, healthcare and education.

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The new properties of 5G can be exploited to support new business models and services that require seamless interactions between multiple parties including mobile operators, enterprises, telecommunications providers, government regulators and infrastructure providers. Blockchain, on the other hand, is increasingly used to register, authenticate, verify, manage interactions, record data, and manage her identity among multiple parties in a trustworthy, decentralized and secure manner. I’m here.

mutual complement

So 5G is not the only blockchain enabler. Both complement each other. 5G will provide the necessary infrastructure for machine-to-machine interaction, while blockchain ensures data reliability and security to enable smarter, faster value capabilities.

The ultimate goal is to reduce network bandwidth and enable communication between devices. Current devices are centralized and owned by a single entity, making them more at risk for wider adoption. This is where blockchain comes into play. Blockchain promises decentralization. This means that no one controls the behavior of these devices, all data transfers are recorded on a distributed ledger, and users have complete control over their privacy. This he is not possible with 4G.

Big potential in telecom

Experts say the combination of blockchain and 5G could disrupt the telecommunications industry. One of the major challenges facing the telecommunications industry today is billing when users travel internationally. International roaming charges are exorbitant. This is because multiple parties are involved in ensuring access to mobile networks. This means that for every tiny bit of mobile data you use, you have to manually settle roaming charges, creating a bill. to you. Not only is this expensive, but it’s also inconvenient for Internet Service Providers (ISPs).

“Transparency-based blockchain can prevent cross-border payments from driving up costs for consumers, and 5G will make international roaming and cross-border mobile networks compatible and effective. I assure you that.” Indian Express I quoted Edul Patel, CEO and co-founder of Mudrex, a crypto investment platform.

Also read: Airtel will start rolling out 5G service in August. Agreements with Ericsson, Nokia and Samsung

However, one of the most interesting upgrades in the blockchain and crypto world is the rendering of the metaverse. The Metaverse is the concept of a 3D digital world, a more immersive world accessed by virtual reality (VR) and augmented reality (AR) headsets and traditional computing devices such as the PCs and smartphones we use. It is the evolution of the Internet to the Spatial Web. .