Minima Global's Hugo Feiler sees blockchain technology becoming integral to the telecommunications industry in the years ahead, particularly as the world adjusts to a post-pandemic reality. Though sti
Minima Global's Hugo Feiler sees blockchain technology becoming integral to the telecommunications industry in the years ahead, particularly as the world adjusts to a post-pandemic reality. Though still relatively nascent as a technology, blockchain has captured the attention of developers and technologists looking to apply it across multiple sectors, telecoms among them.
According to Feiler's perspective: "Blockchain is ten years in but still in its formative stages. However, there are every so often seismic shifts and the Covid-19 pandemic is changing the behaviour in a lot of industries. I think that blockchain will be accelerated as a result, because as more and more of the world becomes connected digitally rather than physically, blockchain can definitely be a core enabler of that new reality."
Enterprises are actively seeking methods to minimize in-person engagement while expanding digital operations and remote collaboration capabilities. How does blockchain factor into telecommunications specifically?
Data compiled by Research Nester reveals substantial activity on the blockchain front within telecommunications. Their findings project that blockchain implementation in telecom will expand at a 70% compound annual growth rate through 2021, with the sector's blockchain market value climbing from $45 million in 2017 to reach $1 billion by 2027.
Feiler elaborated on the competitive implications: "As soon as new players come into the market with blockchain as a way of creating competitive advantage, they will have cost efficiencies and flexibility in their systems by using blockchain rather than legacy backend systems."
Room to run
Though blockchain adoption in telecoms remains in early stages, Feiler views this scarcity of implementation as fertile ground for rapid expansion and breakthroughs. In his assessment: "If you get some entrepreneurial upstarts that do that, I think that the technology will continue to be built on and developed and it will come from a combination of forward-thinking from network operators who will see the writing on the wall and work out they need to be ahead of the curve."
A technological shift by one major operator—one that delivers tangible cost reductions—would likely trigger comparable moves across the sector. Once this transition begins, transformation could accelerate significantly. Given blockchain's expanding footprint across diverse industries, telecommunications stands positioned as a logical next frontier for the technology's application.
