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Work item:
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TR_AccountingIOT
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Subject/title:
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Accounting & Billing aspects in IoT ecosystem
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Status:
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Agreed on 2023-03-10 [Issued from previous study period]
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Approval process:
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Agreement
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Type of work item:
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Technical report
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Version:
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New
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Equivalent number:
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-
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Timing:
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-
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Liaison:
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ITU-T SG20
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Supporting members:
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India, Rep. of Korea
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Summary:
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The Internet of Things (IoT) can be described as a multitude of connections between various computing devices connected to the Internet. A new kind of connectivity between devices, systems, and services appeared, bringing in a phenomenon much broader than any previous technologies. The supply chain of a typical IoT application will involve numerous players and the chain is quite long as well as complex.
The number of relations and settlements between those entities provide a vast canvas of permutations and combinations. In some cases, it could be a very simple selling process, while in others, it can be an extremely complex revenue chain, depending on the provided services and the relations between the involved parties. It is estimated that the financial impact will be up to $11 trillion globally by 2025.
The most crucial factor in the whole IoT ecosystem, is that billing has to support all relations, levels of charging and processes for the end-to-end billing chain. The whole financial area is quite large and can be described as multi-levelled, multi-tenant, multi-device environment where billing has to take into account SIM & device Lifecycle as well as Customer / Reseller & End User Lifecycle with different states and transitions between them. In the IoT world, new services, prices, relations have to be introduced smoothly and rapidly. There can be various types of innovative pricing models in IoT scenario posing some challenges to the accounting setup.
The accounting system forms a strong base for any kind of IoT application. Considering the need for an integrated approach towards accounting & billing in IoT ecosystem, this contribution intends to explore various principles & models on this subject and to encourage the member-states to share the best practices followed. This proposed study may also explore emerging technologies like Distributed Ledger Technology (DLT) to usher in trust, security, and transparency in IoT ecosystem.
The proposed technical report under SG3 will try to make attempts to study the Accounting & Billing aspects of IoT ecosystem in holistic manner and explore the various policies, models & principles to tackle the challenges posed by this vast ecosystem.
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Comment:
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-
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Reference(s):
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Historic references:
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Contact(s):
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First registration in the WP:
2020-09-16 18:34:42
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Last update:
2023-03-24 10:52:39
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