NANJING, China, Jan. 26, 2020 /PRNewswire/ -- TM Forum has announced today that the "Blockchain-based 5G Collaboration Economy," of which Whale Cloud is a key participant has won the "Outstanding Contribution of TM Forum Assets" award. The award recognizes the projects that have provided the best collaboration learnings for the benefit of all TM Forum members. Whale Cloud contributed to the implementation of this project as a foundation code base for Blockchain-based innovations.
The Catalyst is championed by China's top mobile operators, China Unicom and China Telecom, with the contribution from Whale Cloud, IBM and CAICT (China Academy of Information and Communications Technology). The project showcases the 5G network infrastructure co-building and sharing between China Unicom and China Telecom to offset the huge gaps between capital investments and gain profits for the rollout of 5G network. Whale Cloud contributed to this project by providing a blockchain-based solution to optimize the complex business processes among multiple parties. In this catalyst, blockchain technology will facilitate 5G network data sharing, optimizes co-building and sharing business processes. It is estimated that China Unicom and China Telecom can save around 45 billion USD in Capex, and the business process efficiency can increase by 70%.
"We are delighted to receive this award from TM Forum. We believe the winning of the 5G economy is not the technology itself, but in using the right business model to collaborate with multiple parties. The Catalyst will accelerate the promotion of 5G and Blockchain technology in China and globally, as well as the technology adoption and maturity for Blockchain in the telco industry," said Fu Jianjun, Chief Marketing Officer of Whale Cloud International.
"Congratulations to the winning team who have made a huge contribution to the benefit of all TM Forum members. The team made important contributions, including a reference implementation with working code. The Collaborative Economy methodology could solve the challenges arisen in the high 5G network rollout investment, which will potentially solve today's industry challenges. Thanks again for all your efforts and commitment to the Catalyst program," said Andy Tiller, Executive Vice President, TM Forum.