Deutsche Telekom to launch blockchain-as-a-service marketplace

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From 2020, Deutsche Telekom's subsidiary, T-Systems, will offer its new German Blockchain Ecosystem (GBE) product to business customers.

Enterprises and SMEs will be able to map a product's entire value chain, from raw materials to delivery, using blockchain.

T-Systems says this will make customers’ operations faster, and more cost-effective and transparent. Businesses will also be able to trade, manage and invoice goods and services directly

“Detours via countless service providers will become a thing of the past,” T-Systems said in a statement. “Blockchain knits together otherwise separate systems for production, services, trade and payment. This significantly reduces fragmentation along the value chain.”

The first product on the marketplace will be the Validator-as-a-Service solution, which allows cross-company processes to be checked and processed via a blockchain infrastructure.

Internet of Values

Adel Al Saleh, CEO, T-Systems, said, "The initial hype around blockchain has blown over. Today, no one doubts that this technology can open up new, decentralised business models.”

He added that blockchain could expand the Internet of Things to the ‘Internet of Values’. “Please actively come forward with your application ideas for this important technological development

Together we can pave the way for the Internet of Values,” he commented. “And best of all, companies no longer have to rely on central platform providers of major marketplaces. On the contrary. Our German Blockchain Ecosystem provides support to companies who want to manage their business models decentrally."

Al Saleh said blockchain could be used to manage various types of assets and therefore have an impact in many sectors, including land, shares, patents, contracts, art, health data, passport information, financial transactions and supply chains.

“The possibilities are almost unlimited,” he said.

The German Blockchain Ecosystem supports common Distributed Ledger Technology (DLT) protocols and integrates major cloud providers including the Open Telekom Cloud.