Leading Telecoms Firm Accelerating Blockchain Adoption in Europe

Telefonica, Spain’s leading multinational telecommunications company established in 1924, has inked a partnership deal with the Association of Science and Technology Parks of Spain (APTE), to enable a massive 8,000 firms in the region to trial its Hyperledger-powered blockchain platform and possibly integrate it into their processes.

8,000 Spanish Firms to Adopt DLT

As distributed ledger technology (DLT) has continued to demonstrate its usefulness in a vast array of sectors in the global economy, Telefonica, one of the largest telephone operators in the world, is going all out to enable nearly 10,000 firms in the nation to integrate the innovative technology.

Per sources close to the matter, Telefonica’s alliance with APTE, a nonprofit whose primary objective is to promote economic development through empowerment and dissemination of scientific and technological parks, will allow the former to deploy its blockchain nodes at the latter’s 52 sites in Spain.

The Hyperledger-based secure and decentralized blockchain network will be open to interested firms for a three-month trial period, enabling them to develop and deploy their own blockchain solutions and experiment with their digital tokens.

Telefonica Accelerating Blockchain Adoption

Reportedly, Telefonica collaborated with tech giants IBM earlier in April 2019, to develop the former’s “Cloud Garden” service, which is designed to facilitate a seamless and frictionless adoption of new technologies such as artificial intelligence (AI), DLT and big data by startups.

The team has hinted that the Cloud Garden platform will also play a key role in the new blockchain pilot.

Commenting on the innovative initiative, Maria Jesus Almazor, CEO of Telefonica reiterated that the project will enable participating firms to enjoy the benefits of blockchain technology without facing the challenges associated with it.

In her words:

“Companies located in these scientific and technological parks will be able to benefit from the advantages of DLT without having to face the inherent complexity of blockchain technology or have to dedicate resources to acquire the knowledge needed to effectively utilize it.”

In related news, earlier in February 2019, BTCManager informed that Microsoft and Telefonica had inked a deal aimed at enabling the latter to integrate Microsoft’s Azure solution into its processes.