Clear is transforming how telecoms settle inter-carrier wholesale payments, which still involve manual transactions that are opaque, complex, and costly for all parties. Using blockchain, we are building a unified settlement platform providing all parties a safe and fast way to approve, clear and resolve disputes automatically, while maintaining control, privacy and high level of assurance. Moreover, blockchain-enabled coordination and communication enables the development of new products, such as Data on Demand and Multi-cloud compute, which are required for autonomous fleets, VR, and remote medicine.

In March 2018, we delivered a proof of concept (PoC), demonstrating an automated blockchain wholesale settlement system for wholesale voice minutes. In the trial, the application of our decentralised, cryptographically enforced, immutable ledger technology resulted in tens of thousands of call records being analysed and settled in a few minutes. Using blockchain technology, hundreds of hours of manual work were reduced to seconds of automated verification and settlement.

We are now in advanced discussions for additional proofs of concept and the creation of an industry-wide telecom consortium for blockchain-based settlement.

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