Verizon Business, a division of the U.S. operator Verizon, announced it will deploy a private 5G network at the new global headquarters of investment management company BlackRock in New York. This is the first commercial deployment of Verizon Business’ On Site 5G private network solution in the U.S.
The contract will deliver secure 5G Ultra Wideband connectivity to parts of BlackRock’s new Hudson Yards facility, including the trading floor, conference center, auditorium and meeting rooms. This on-site 5G network can replace office Wi-Fi and allow BlackRock to use high-bandwidth tools and applications such as AR/VR and real-time edge computing, the operator said.
Verizon’s On Site 5G is a secure, non-standalone (NSA) private network combining 5G Ultra Wideband small cells with LTE packet core and supporting radios.
Operators in general are in search of new business models that can generate more revenue than traditional mobile services, and 5G has ushered in an era of innovation in this regard. A private 5G network is something that a major operator can engineer for a large enterprise customer and thereby provide a level of service unobtainable even with the national 5G service that is being rolled out. Tailoring a network to specific client’s needs ensures the most satisfying relationship between operator and subscriber possible.
A bespoke 5G network is only achievable for a business-specific operator such as Verizon Business, whose clients are sophisticated and deep-pocketed entities such as BlackRock. While BlackRock is an investment firm rather than an industrial one, it has complex demands involving the use of very large amounts of data, high security, and use of new systems such as AR/VR and real-time edge computing. These make localized, high-efficiency 5G particularly useful and appropriate, especially on a trading floor.
Once designed and implemented, a customized 5G network such as this one can also serve as a real-world advertisement for Verizon’s services, promoting the operator’s cutting-edge technology and skills. Verizon can reasonably expect that other enterprises, within and outside the financial-services sphere, will notice and be interested in having such a private network built for them, as well.