The program is to support SMEs in Spain, Germany, and the United Kingdom through blockchain solutions.
The multinational telecommunications company Telefónica announced the activation of its blockchain adoption program for technology companies, which seeks to include new forms of management in the processes of different companies.
According to the statement that the company published on May 27th, the initiative hopes to boost the development of proposals related to blockchain technology, Artificial Intelligence (AI), and the Internet of Things (IoT). To improve the performance of companies in Europe, Telefónica explained that companies established in the United Kingdom, Germany, and Spain can participate.
The statement detailed that the “Telefonica Activation Program” will be aimed mainly at those small and medium-sized companies (SMEs) that seek to improve their management processes with blockchain solutions and other new technologies. Among the main tasks that Telefónica hopes to promote, the creation of new business models that are already in different stages of development stands out.
The synopsis of the program explains that Telefónica will select the companies that will participate in the first instance. Those companies included in the initiative will have access to all Telefónica’s technological solutions for free and for 6 months.
Financing
It is worth mentioning that there is the possibility of receiving express financing from Telefónica. The companies that will be part of the program are going to be able to develop, together with Telefónica, a pilot project related to blockchain technology solutions.
The Connected Open Innovation Director at Telefonica, Irene Gómez, confirmed the access of the selected companies to the full technological potential of Telefónica. She commented that it is vitally important to support SMEs. “Collaboration is more important than ever, that’s why at Connected Open Innovation we want to help scale startups by giving them access to our technology platforms by consuming APIs, for free, quickly, and easily.”
Companies interested in participating in the selection process for the Telefónica boost program will be able to register on the website dedicated to the project until next June 22nd.
On the other hand, the announcement emphasized the level of preparation that participating companies will receive within the program, naming from tutorials to online events and instructional workshops. Telefónica employees will provide this course to the companies selected. Then, participants will be able to provide personalized support for their companies.
Using Blockchain Technology
Regarding blockchain technology, those companies interested in implementing this technology will have use credentials on TrustOS. The system based on Hyperledger Fabric allows Telefónica to create applications for business use. This system presents a fairly simple and practical method of use, so it would be the most ideal system for those who are not familiar with blockchain technology.
On the operation of this system, company spokespersons detailed its main characteristics. “TrustOS is made up of a series of modules that are independent and interoperable with each other. Each one includes a logical engine in the form of a smart contract, deployed on different blockchain networks, and with an abstraction layer in the form of an API to be able to interact with them easily. This modular architecture allows us to add both new APIs and new smart contracts to expand the functionalities, as new use cases require it.”
It is not the first time that Telefónica makes this type of effort to promote the technological development of other companies. According to local media, last October, the telecommunications company announced the creation of a blockchain network that more than 8,000 companies in Spain will use in their internal processes. In this way, the adoption of blockchain technology in Europe continues.
By María Rodríguez
