In a concerted effort to maintain the authenticity of crucial information in today’s digital era, Telefonica, S.A.’s TEF subsidiary, Telefonica Tech, recently announced a partnership with Fibocom Wireless Inc. and aitos.io. Markedly, the collaboration focuses on amalgamating the benefits of blockchain and IoT on the back of a proof of concept to demonstrate its feasibility in areas related to monitoring of manufacturing processes and supply chain management.
The latest partnership will be beneficial in streamlining day-to-day operations with an added layer of security supported by these avant-garde technologies, especially amid the COVID-19 crisis.
Notably, Telefonica Tech is responsible for managing security, cloud and IoT/Big Data businesses with utmost agility. The segment manages these three businesses under a single umbrella to not only bolster revenue generation but also facilitate the entry of new partners for lucrative business opportunities. The unit is expected to yield revenues of more than €2,000 million in 2022.
Fibocom is a major supplier of IoT-enabled wireless communication modules for IoT equipment manufacturers and telco operators. The China-based company primarily focuses on empowering smart homes, smart cities and smart retail, thereby underscoring the importance of growing digitized industries and society as a whole for a better future.
aitos.io is a technology startup that specializes in the development of identity authentication and data privacy-preserving solution for various organizations. Its blockchain module, BoAT (Blockchain of AI Things) plays a pivotal role in the IoT industry by ensuring data constancy and credibility.
Markedly, the partnership, which aims to create joint blockchain and IoT solutions, has commenced with the help of a proof of concept by combining Telefonica Tech’s TrustOS platform, Fibocom’s 5G devices and aitos.io’s blockchain application framework — BoAT SDK. The unique synergy will help these companies to not only ensure the veracity and transparency of information gathered by various devices and sensors with additional security but also bring in the value of trust and identity for Industry 4.0 with the right technology.
Impressively, the partnership is touted to have developed the world’s 5G blockchain IoT module that will act as a bridge between the physical and digital world. Supported by these dedicated endeavors, the strategic alliance is likely to support these companies with state-of-the-art blockchain solutions via wireless modules so as to drive monetized value from data integrity and ownership while embracing the advanced technologies to offset the challenges of implementation in today’s IoT and 5G era.
Telefonica provides a comprehensive suite of service platforms for fast go-to-market launches. Its IoT connectivity platform has been designed to address dynamic business requirements and enable a cost-effective solution to improve business productivity.
Over the past years, the Spanish company has invested heavily in the deployment and transformation of its network to provide seamless connectivity with enhanced capacity, speed, coverage and security. With operations across 17 countries, the Spanish telecom company is capitalizing on the opportunities in the digital world through several growth strategies to enhance long-term prospects, while experiencing healthy traction in the smartphone market.
Telefonica currently has a Zacks Rank #4 (Sell). Shares of the company have soared 35.5% compared with the industry’s growth of 16.5% in the past six months.
Some better-ranked stocks in the broader industry are Portland General Electric Company POR, MDU Resources Group, Inc. MDU and New Jersey Resources Corporation NJR, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Portland General Electric delivered a trailing four-quarter positive earnings surprise of 107%, on average.
MDU Resources has a long-term earnings growth expectation of 5%.
New Jersey Resources has a long-term earnings growth expectation of 6%.
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