Castilian telecommunications behemothic Telefonica has reportedly partnered with the local Clan of Scientific discipline and Technology Parks (APTE) to grant access to its blockchain to about 8,000 firms in Spain.

According to a study published by telecom news outlet TotalTele on Jan. nine, Telefonica will deploy nodes of its Hyperledger-based blockchain at APTE'due south 52 sites.

During the three-month-long testing period, firms will be encouraged to develop applications on the network and immune to experiment with their ain tokens. Telefonica partnered with It giant IBM in Nov 2022 to apply blockchain technology to managing international mobile telephone call traffic.

A project backed by notable partners

In April last yr, Telefonica leveraged its relationship with IBM to launch its Cloud Garden service. This service is meant to simplify adoption of emerging technologies, including blockchain, as well as AI and big information.

The blockchain deployed in partnership with APTE leverages the Deject Garden service. CEO of Telefonica Espana Maria Jesus Almazor claimed that the project will bring significant benefits to firms housed at Espana's science and applied science parks:

"Companies housed in these scientific and technological parks will exist able to benefit from the advantages of blockchain technology without having to face the inherent complexity of information technology, or accept to dedicate resource to acquire the knowledge necessary to brand the virtually of it."

According to APTE'due south official website, a scientific discipline and technology park is a projection generally associated with a concrete space dealing with educational institutions and research centers promoting knowledge creation. Such parks too take a stable managing body that encourages innovation and technology substitution between companies and organizations participating in its function.

Company information website Crunchbase estimates Telefonica's almanac revenue to exist nigh $54.1 billion. Furthermore, the website also reports that the telecom giant besides invested $5 million in the seed funding round of blockchain data verification platform Zamna. In Feb, a Microsoft press release too announced a partnership with Telefonica aiming to develop blockchain and artificial intelligence innovation.

Telecom giants' investments in blockchain

Investments in blockchain technology are becoming increasingly mutual amidst telecommunications giant. As Cointelegraph reported in November 2022, Malta Enterprise, the Maltese government agency supporting business development, signed a memorandum of understanding with Blockchain-every bit-a-Service service business firm T-Systems.

In September terminal yr, as well Union Mobile, the quaternary-largest mobile carrier in South korea, announced the launch of its blockchain project called ELYNET. Trying to motivate firms in the space to further adopt the technology, the Enterprise Ethereum Alliance also published a collection of use cases for blockchain in telecommunications in Baronial terminal year.