The international wholesale voice carrier market valuation is predicted to reach USD 120 billion by 2032 but with the Increase in voice traffic fraud is set to increase with at least the same speed.
The fraud mitigation service segment is anticipated to hold over 13% of the international wholesale voice carrier market share by 2032. Some of the main voice traffic frauds include the usage of CLI (Calling Line Identification) manipulation, OBR fraud, grey routes, Wangiri and International Revenue Share Frauds (IRSF). The rising number of voice traffic frauds along with surging instances of cyber threats has increased the importance of fraud mitigation systems, thereby augmenting market size.
International Wholesale Voice Carriers are expected to leverage more powerful multi-layer security. Blockchain technology is becoming an essential part of their fraud mitigation strategy as a way to decentralized information exchange.
Fraud Mitigation with Blockchain
Blockchain as a technology has many advantages over traditional technologies to combat fraud:
Single source of truth to reduce disputes.
Anonymous but authenticated communication enables information exchange without revealing commercial interests.
Eliminates Silos and Vendor Lockins.
In order to interface legacy SIP systems with the new blockchain technology we offer a broad range of API's such as REST APIs, Web Services and Web Sockets. Every CodeB Node contains also proxies for SMS and SIP traffic to make integration even easier.