We’ve already gone into details about how blockchain was able to start a revolution in the accounting industry. But there is a tiny problem: blockchain was developed as a method to keep track of bitcoins and allow users to record, track and verify transfers – which is quite far from the world of VoIP. However, if blockchain is able to change and improve accounting, it surely will do the same with telephony too.
The Gears Behind Blockchain
Like we said, blockchain is currently used for financial purposes but the technology that allows users to verify ledgers without the need of a third party (an auditor or the bank) is something that can be used for any purpose.
This is how it goes with examples taken from the world of accounting: you perform an action (upload your business report) to a joint database (a ledger) and that action becomes a block. Even though the database could be seen by anyone, you don’t have to worry about any peeking eyes since all blocks are automatically encrypted by a unique signature, thus keeping it invisible from anyone but yourself and the other specified party of the action performed (whoever receives the key to unlock the encryption). Also, the joint database automatically updates after a new block or transaction is added, while it ensures that the action cannot be recreated, duplicated or, if the initiator’s past activities don’t check out (i.e. the sender doesn’t have sufficient funds), completed.
Blockchain’s Possible Use for VoIP
Since blockchain is about adding an extra layer of security while automating certain processes, it is logical that this feature can be used in telecommunications as well, namely for improving the authentication process. Nowadays VoIP authentications are linked to the telephone’s MAC address, which has to be identified by session border controllers, SBCs. In other words, when you place a call through the internet you have to be identified by an SBC to appear as yourself on the receiver’s side.
But if we add blockchain to the mix, these SBCs – and even phone carriers according to extreme predictions – will become obsolete as the joint database will be able to identify calls without any interference. Furthermore, blockchain can deal with hackers too: while it won’t protect your system from being hacked, it will at least prevent hackers from placing unwanted calls on your behalf since the blockchain will not authenticate those unusual actions.
Blockchain-Based VoIP: Soon a Reality
Even though blockchain’s importance is undeniable, the technology and its use are still in its infancy. And yet, in 2017 the first pioneer of blockchain-based VoIP service was born: EncryptoTel, a company that raised $3 million during a crowd funding campaign (another sign of blockchain’s significance) and is expected to launch by the summer of 2018. The company is promising a secure VoIP and B2B blockchain communications infrastructure for its service. According to EncryptoTel, a hosted PBX provider available to anyone in the world, users of different hosted PBX sources can start and accept encrypted VoIP calls while also get access to popular messenger applications.