Starting from next year, Deutsche Telekom AG, the largest telecommunications provider in Europe, will simplify life by providing its business clients with a distributed ledger technologies (DLTs) facility called German Blockchain Ecosystem (GBE).
This important novelty developed in partnership with T-Systems, a global IT services and consulting company, the first ever European digital service supplier to roll out a blockchain network as a Service. The initiative will help clients to effectively map various applications with the help of this disruptive technology - blockchain.
The platform will enable businesses to map a good’s full value chain, starting with the collection of raw materials up to the delivery point, with the help of blockchain technology. Therefore, each and every phase of the firm’s supply chain will be made digitally observable.
Consequently, companies will make their dealings transparent, quicker, and economical, which was never the case in the past. Businesses will also be in a position to directly trade, fare and invoice products and services. By-passes through myriad service suppliers will now be history and absolute. There will be a significant decline of crumbling along the complete value chain.
The IT firm plans to launch the first creation called the Validator as a Service solution, that enables cross-firm practices to be dependably and firmly tested and handled through an effective blockchain network. Business clients will benefit from these initiatives. DLT will also be applied to enhance business applications in small and medium enterprises (SMEs).
In addition, Germany is interested in digital money and believes that digital Euro should be launched soon, according to the finance minister Olaf Scholz. The digital euro will be probably a DLT-based cryptocurrency, as revealed by WirtschaftsWoche, the German business news outlet. Scholz further revealed that their government shouldn’t leave issuing of cryptocurrency only to nations like Russia, USA, China or private firms such as Facebook, a company behind Libra project.