While 5G will provide the infrastructure needed for machine-to-machine interactions, Blockchain will ensure data reliability and security.
India’s 5G rollout is expected to begin this month and could have a major impact on the way services are delivered to consumers and businesses. 5G is expected to revolutionize the world in various industries such as transportation, healthcare and logistics. Unlike 3G and 4G, which usually offer improvements in the data transfer speeds of smartphones, 5G will allow a universe of connected devices to interact with each other.
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Experts believe that 5G will be the potential factor that will lead to the massive adoption of blockchain technology in many aspects such as trade finance, logistics, healthcare, education, etc.
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New 5G features can be used to support new business models and services that require seamless interaction between multiple parties, including mobile operators, businesses, telecom providers, government regulators and providers. in infrastructure. Meanwhile, blockchain is increasingly used to register, authenticate and validate assets and transactions, manage interactions, record data and manage identification between multiple parties in a reliable, decentralized and secure way. way.
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complement each other
So it’s not just 5G that’s enabling Blockchain. Both complement each other. 5G will provide the infrastructure needed for machine-to-machine interactions, Blockchain will ensure data reliability and security, enabling smarter and faster value functions.
The ultimate goal is to reduce network bandwidth and make communication between devices live. Because current devices are centralized, meaning one entity owns them, this makes them more risky for wider adoption. This is where blockchain comes in, it promises decentralization meaning no one controls the operation of these devices, and every data transfer is recorded in a distributed ledger, giving users full control over their lives. private. This is not possible with 4G.
Huge potential in telecom
Experts say blockchain combined with 5G has the potential to disrupt the telecom industry. One of the major challenges facing the telecommunications industry today is making payments when a user travels abroad. International roaming charges are exorbitant, as many parties are involved to ensure you can access mobile networks, which means that for every small amount of mobile data you use, roaming charges -roaming must be paid manually and then an invoice is generated. yours. Not only is this expensive, but it also makes it inconvenient for Internet Service Providers (ISPs).
“Blockchain, which relies on transparency, will prevent increased costs for consumers due to cross-border settlements, and 5G will ensure that international roaming and cross-border mobile networks are compatible and efficient,” The Indian Express quoted Edul Patel, CEO and co-founder of Mudrex, a crypto investment platform.
Also Read: Airtel To Begin Rollout of 5G Services in August; signed agreements with Ericsson, Nokia, Samsung
However, one of the most interesting upgrades in the world of blockchain and crypto may be the translation of the metaverse. Metaverse is a concept of a 3D digital world and an evolution of the Internet into a more immersive spatial web accessible through virtual reality (VR) and augmented reality (AR) headsets as well as traditional computing devices such as PCs and smartphones that we use. . .