Spanish telecommunications giant Telefonica has reportedly partnered with the local Association of Science and Technology Parks (APTE) to grant access to its blockchain to about 8,000 firms in Spain.
According to a report published by telecom news outlet TotalTele on Jan. 9, Telefonica will deploy nodes of its Hyperledger-based blockchain at APTE’s 52 sites.
During the three-month-long testing period, firms will be encouraged to develop applications on the network and allowed to experiment with their own tokens. Telefonica partnered with IT giant IBM in November 2018 to apply blockchain technology to managing international mobile phone call traffic.
In April last year, Telefonica leveraged its relationship with IBM to launch its Cloud Garden service. This service is meant to simplify adoption of emerging technologies, including blockchain, as well as AI and big data.
The blockchain deployed in partnership with APTE leverages the Cloud Garden service.
According to APTE’s official website, a science and technology park is a project generally associated with a physical space dealing with educational institutions and research centers promoting knowledge creation. Such parks also have a stable managing body that encourages innovation and technology exchange between companies and organizations participating in its function.
Company information website Crunchbase estimates Telefonica’s annual revenue to be about $54.1 billion. Furthermore, the website also reports that the telecom giant also invested $5 million in the seed funding round of blockchain data verification platform Zamna. In February, a Microsoft press release also announced a partnership with Telefonica aiming to develop blockchain and artificial intelligence innovation.