A private blockchain platform with AI capabilities has been unveiled by Swedish start-up Haidrun.

The enterprise blockchain platform combines private Distributed Ledger Technology (DLT) blockchains with Artificial Intelligence (AI) engines to deliver “rapid transaction speed, security and scalability, interoperability with existing systems and significant cost reduction”, Haidrun said.

Haidrun can also help simplify and reduce the cost of OSS and BSS, including partner, enterprise and customer management to tackle contracts, settlement, supply chain and SLAs, while support for smart contracts can be used to streamline roaming agreements and reduce fraud.

“Private blockchains are more suitable for enterprises for reasons of scale, accountability and cost and can be run as a Blockchain-as-a Service,” said Haidrun CEO and founder, Jonas Lundqvist.

“While the telecoms industry has always been at the forefront of embracing disruptive technologies, it is yet to harness the full potential of blockchain technology at scale. But unlike public blockchains where there is no entity in charge and anyone can interact with the blockchain, private networks retain control, eliminate illicit activities, provide a high degree of regulation and avoid variable costs and performance fluctuations associated with public platforms,” Lundqvist added.  

Haidrun said its private blockchain provides confidentiality and performance to support the delivery of high-value, trusted digital services such as managing digital rights and streaming services, tracking home equipment, Domain Name System (DNS) services and managing device identity and security for IoT, Edge and 5G services.

The platform is a non-open source, flexible and scalable private blockchain, built on an advanced architecture that uses AI engines to help accelerate intelligent business automation and deliver secure and transparent transactions.

Haidrun also removed much of the complexity of public blockchain, to support simple interoperability with third-party systems using standard APIs.

“Our fundamental value proposition for the telecoms industry is to unlock the real business benefits of blockchain to provide the fast, secure, scalable and cost-effective solutions that digital commerce demands,” Lundqvist continued.

“Blockchain technology stands to boost the global economy by $1.7 trillion in the next decade according to a report published last year by PwC and we believe that enterprise blockchain deployments will deliver much of these gains.”