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Telefónica Inks Deal with Wayra-Assisted Start-up to Provide Blockchain Infrastructure

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Telefónica, the Spanish telecommunications giant has said before it does not one to be a company that misses out on the next technological evolution. With Blockchain breaking into the business sector, the company has looked to start ups that are close to it through the  AI & Blockchain Accelerator, and Wayra, and have found Ocyan.

Wayra is a start-up accelerator that was launched by Wayra and also associated to AI & Blockchain Accelerator, based at the Bayes Centre, in Edinburgh, Scotland. Where Ocyan came out of in 2019. Ocyan is an end-to-end cloud operating system for enterprise blockchain and P2P networks and it was awarded “Start-up of the year” by Horizon Event in 2019.

This agreement will see Ocyan becomes the infrastructure layer for Telefónica’s TrustOS, enabling the Telecom giant to deploy a blockchain solution in any cloud or data centre provider, for any underlying blockchain protocol, in a very agile and scalable way.

Emerging as a blockchain leader

It has become clear with the work that Telefónica is doing in the realm of start-ups that the company hopes to position itself as one of the leaders in the enterprise blockchain market, by being able to target large enterprises to SMEs use cases in multiple industries. The future plans are to expand the TrustOS offering with more APIs and applications for IoT, tracing & tracking, ID, settlements, tokenization and other future uses.

“Wayra was founded by Telefónica’s current CEO [José María Álvarez-Pallete López], and the idea was that it was clear that companies, like Whatsapp, which Telefónica had not taken very seriously, saw the company losing millions of dollars to a business that they didn’t even know existed! The same thing with Skype, entire business lines being wiped out by startups using technology in a way large corporates had not seen,” Gary Stewart, the Managing Director of Wayra UK told The Daily Chain last year.

Getting start-ups to work together with Telefónica is one of Wayra’s main differentiation. To date, over 300 start-ups have been through one of Wayra UK’s programmes and 136 trials and contracts have been signed between the start-ups and Telefónica, generating over $18M in revenue for the portfolio of start-ups.

What Ocyan can do

While there are a number of different blockchain start-ups in the acceleartors and under the eye of Telefónica, it is Ocyan that was picked up with its cloud-managed solution that provides all the required infrastructure, automation, monitoring, integrations and analytics, beyond just a Blockchain as a Service, to give organizations the ability to bridge the visibility, easy to integrate and scale across their cloud architectures to any DLT/Blockchain network.  

Darryn Pollock
Darryn has been interested in the blockchain and cryptocurrency space since he heard about Bitcoin in 2015. He then decided to use his journalism degree to report on this fascinating fintech space in 2016, and has not looked back since.

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