Whale Cloud, a leading Chinese cloud computing technology company, has received “Outstanding Contribution Award of TM Forum Assets” award for developing a Blockchain-based solution to optimize complex business processes between multiple parties for Blockchain-based 5G Collaboration Economy project, a network created by China Unicom and China Telecom to accelerate and support 5G development.
In a press release published on January 26, Whale Cloud said that it has received the award from TM Forum, a global industry association for service providers and their suppliers in the telecommunications industry, for making a significant contribution to Blockchain-based 5G Collaboration Economy project.
According to the press release, Whale Cloud has contributed to the implementation of this project as a code base for innovations based on the blockchain.
The Blockchain-based 5G Collaboration Economy is working as a catalyst for 5G and blockchain technology in China and around the world. This project announced by two top Chinese mobile operators, China Unicom and China Telecom, offers a tangible solution to creating transparent resource information sharing, efficient application and approval processes and effective elimination of data discrepancy in a 5G co-building and sharing scenario.
The press release reads:
“Whale Cloud contributed to this project with a blockchain-based solution to optimize complex business processes between multiple parties. With Catalyst, blockchain technology will facilitate data transmission over 5G networks, and optimize joint construction and shared business processes.”
Whale Cloud Technology Co., Ltd., founded in 2003, is a leading digital transformation company offering solutions and services to telecom operators, companies and governments. According to its Linked In profile, since September 2018, it has officially become the subsidiary of Alibaba Group, a Chines e-Commerce giant founded by Jack Ma.
Fu Jianjun, chief marketing officer of Whale Cloud International, on this occasion, said:
“We are extremely pleased with this award from the TM Forum. We are convinced that the 5G economy does not benefit from the technology itself, but from using the right business model to work with numerous partners. Catalyst will accelerate advertising for 5G and blockchain technology in China and around the world, as well as technical adoption and maturation for blockchain in the telecommunications industry.”
TM Forum, who awarded this award to Whale Cloud, is global association of Telecommunication services providers that provides an open and collaborative environment along with practical tools and information to help its members in their digital transformation initiatives.
Andy Tiller , Executive Vice President of the TM Forum, commented:
“We congratulate the victorious team who made a great contribution to the benefit of all members of the TM Forum. The team delivered important things, including a reference implementation with working code. The collaborative economy methodology could address the problems associated with investing in the 5G network, potentially addressing the current industry challenges. Thanks again for all the efforts and commitment in the Catalyst program.”