QLC Chain, a decentralized Network-as-a-Service (NaaS) provider, has announced it is to take the lead for the Metro Ethernet Forum’s (MEF) “DLT, Supply Chains, and Billing” incubation group. The incubation group seeks to define supply chains based on existing blockchain and distributed ledger technology (DLT) to enable automation between operators and collective commercial interactions.
QLC Chain intends to offer its DLT-based billing protocol solutions to operators with support for cross-chain interoperability. Additionally, incubation group members will be required to stake tokens to access the proposed platform.
In May 2019, QLC Chain implemented its own cross-chain interoperable staking protocol between Neo, via the NEP-5 QLC token and its MainNet QGAS utility token. In this model, QLC is the “protocol token” for QLC Chain, which can be staked to gain access to communication services, receive QGAS, and vote on ledger updates.
About the MEF and QLC Chain’s involvement
QLC Chain joined the MEF in February 2020 to “provide near-real-time self-organizing data-on-demand services to end customers.” QLC Chain aims to leverage relationships from the MEF to offer its solutions to information and communications service providers.
The MEF is an industry association comprising more than 200 member companies seeking to empower its members with the “dynamic performance and security required to thrive in the digital economy.” The MEF was founded in 2001 and has “spearheaded [the] creation of the $80+ billion annual global markets for Carrier Ethernet services and technology that involves more than 650 service providers and dozens of technology companies worldwide.”
Industry members include AT&T, Cisco, Sprint, China Telecom, China Unicom, T-Mobile, Huawei, Verizon, KPN, Nokia, Oracle, and Zayo, among many others.
The full announcement can be found at the link below:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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