CSG Launches Blockchain Lab
GREENWOOD VILLAGE, Colo. -- CSG (NASDAQ: CSGS), the trusted partner in simplifying the complexity of business transformation in the digital age, today announced the opening of a technology lab to adopt blockchain technology across the wholesale business support systems (BSS) industry – specifically in the area of intercarrier settlements.
CSG’s lab, part of the company’s ongoing leadership in the wholesale industry, will focus on solving the industry’s toughest business challenges by leveraging the wider application of blockchain, as well as explore new applications for the technology in areas including trading, routing, roaming, fraud and partner management (video).
CSG will leverage its expertise in interconnect and wholesale to identify ways the technology can facilitate rapid and cost-efficient wholesale settlement between carriers and their partners to deliver all types of services to their customers. This includes leveraging blockchain technology to reduce the amount of time it takes to put contracts in place between carriers, as well as speeding up the process for carriers to settle financial agreements, lowering collection times.
Initially, research conducted in the lab will focus on five key areas of intercarrier settlements:
- Agreement Blockchain
- Event Record Blockchain
- Financial Transaction Blockchain
- Account Blockchain
- Financial Settlement Blockchain