Chairman of China Telecom Blockchain and Digital Economy Joint Laboratory, Jiang Wei expressed potential of blockchain in the usage of 5G.
He explained in an interview published on Chinese news portal, Cebnet, that blockchain technology has significant use cases that could improve the 5G mobile network. According to estimates by China Telecom in 2019, China’s 5G services are expected to have approximately 170 million subscribers by the end of 2020 and the expects blockchain to play a crucial role in trusted management, secure interaction, and efficient collaboration among multiple participants of the network and devices.
Additionally,blockchain in 5G will introduce social capital in the 5G landscape. The chairman believes that this will help the industry crowdsource the 5G infrastructure. With that being said, Wei admits to having concerns on blockchain technology saying, “Before we could see an efficient integration of blockchain and 5G, there are multiple issues that need to be dealt with blockchain technology,” said Wei. “Of those, the legality and security aspects of smart contracts are a major concern.”