In a recent interview, the Chairman of China Telecom Blockchain, Jiang Wei talks about the need for blockchain technology in strengthening the 5G network services. He says that blockchain technology already has significant use cases and can help to improve the 5G network in mobile phones as well.
China is Hopeful of Blockchain Technology
Chairman Wei has expressed his hopes in favor of the integration of blockchain technology in the 5G network. According to him, the use of blockchain technology will smoothen out creases in terms of marketing the 5G network to people. It will help in increasing the crowdsource.
Point to note here is that the more successful the 5G network, the more will be the social capital. In a nutshell, if his idea about integrating blockchain technology in the 5G network infrastructure works out well then the 5G experience of users will be seamless and convenient.
The China Telecom experts believe that bringing blockchain technology into the picture is essential because it will ensure trusted management, efficient collaboration, and secure interactions amongst the participants of the network and services.
Obstacles on the Way
While talking about the beneficial aspects of integrating the blockchain technology into the 5G infrastructure, Chairman Wei also mentions the possible obstacles that are likely to arise in the phenomenon. To quote Wei, “Before we could see an efficient integration of blockchain and 5G, there are multiple issues that need to be dealt with blockchain technology”.
Obstacles that are likely to stem are smart contracts. Wei states that smart contracts will be unable to be repaired or fixed and hence there needs to be a standardized solution for bug fixes. According to him, scalability and interoperability will also be two hurdles that will hinder the entire process. However, Wei also adds that with proper cooperation and experimentation, the obstacles can be surmounted.
Speculated Success of 5G Network Services
According to estimates reported, by the end of this year i.e. 2020 the 5G network will already have 170 million subscribers.