Josip Heit, G999 and Gold Standard Corporate on the impact of blockchain technology on telecommunications

   2021-03-23 10:03

Josip Heit, proven business manager and blockchain pioneer, as well as Chairman of the Board of GSB Group, sees the collaboration announced today, Monday 22 March 2021, between the world’s three leading telecoms companies, Telefonica of Spain, Deutsche Telekom and UK operator Vodafone, to develop a blockchain solution for the billing of roaming rebate agreements, as a clear sign of the efficiency of blockchain technology.

Josip Heit explains: “Until the launch of the GStelecom app by GSB Gold Standard Corporate on 15 March 2021, blockchain solutions allowed telecom service providers, among other things, to store device/SIM data together with the customer profile on the blockchain, which meant that a stolen device could be blocked immediately, and also to inform third parties of any change in the status of a device. Basically, nothing more than a simple distributed database with the purpose of securing sensitive information so as not to get lost.
GSB Gold Standard Group has taken a different approach to the use of blockchain technology in this regard, extending it to the transmission of encrypted voice and text data.”

Alexandru Cocindau, Chief Technology Officer (CTO) of GSB Gold Standard Corporate Group explained to journalists last weekend how the GStelecom app, which was programmed and created in GSB’s development labs, works: “In end-to-end encryption, messages are encrypted on a device in such a way that only the device to which the message is sent can decrypt it. The message travels all the way from the sender to the receiver in encrypted form, and this is what is used by WhatsApp, Telegram, Signal and other messaging services. This uses a mechanism called RSA (Rivest-Shamir-Adleman) along with other systems.
Here it is important to understand that these messages are still stored in a centralised environment such as cloud services, therefore the way GStelecom transmits and stores these encrypted messages is decentralised by the nature of blockchain technology, eliminating any possible intermediary third parties.

Another option is encryption in transit, where messages are encrypted on the sender’s side, delivered to the server, decrypted there, re-encrypted and then delivered to the recipient and only decrypted on their side.

What is necessary to understand and note here is that transport encryption protects the information during the entire transmission, but its use allows the intermediate link in the chain – the server – to see the content. And this is where GStelecom comes in and adds blockchain technology! This combines the GStelecom app with the logic of transport encryption, which now makes it completely impossible to intercept the content, even if “the server – which sees the encrypted content” – should be hacked!”

Now one might insert, depending on how trustworthy the owners are, this may be a problem. But at the same time, because the use of encryption-in-transit involves the server in the communication, a number of services can open up, to the benefit of the user, which go beyond simple data transmission.

For example, a server can save the message history, include additional participants in a conversation via alternative channels, such as via telephone in a video conference, use automatic moderation and much more becomes possible.

Josip Heit stated before this example at the launch of international journalists: “Encryption-in-Transit via GSB Gold Standard Group’s G999 blockchain technology solves the most important problem here, the interception of data on the way from the user to the server and from the server to the user, which is the most dangerous part of a message’s journey. For this reason, not all services are rushing into end-to-end encryption.
For users, the gain in convenience and additional services is perhaps more important than even more data security, yet blockchain technology is the solution and its use will continue to lay the foundation for further sustainable innovation in the future.

You can download the “GStelecom App” for both Apple and Android:

Keywords:Josip Heit, G999, GSB Gold Standard Corporate, GStelecom, GStelecom App, GSB, Alexandru Cocindau, Blockchain, Blockchain Technology, Telecommunications, GStelecom Apple Store, GStelecom Google Play St

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