Telecommunication system and method for settling session transactions

1. A system of validating communications sessions among clients using a ledger administration network, said ledger administration network comprising:

at least one ledger administration server adapted to maintain

a distributed ledger comprising a data structure for storing at least communication session balances and node information that includes at least a node table, a session table, and a KYC validator table, and

a smart contract database adapted to store smart contracts;

at least one session validation server adapted to validate communication sessions for at least one of said clients; and

at least one KYC server adapted to send and receive messages to said ledger administration server, said KYC server being further adapted to determine if at least one of said clients is authorized to participate in a communications session;

wherein said ledger administration server is adapted to:

receive a session request comprising smart contract terms and at least one receiving client from an initiating client;

validate digital signatures associated with said initiating client and said receiving client;

match a session between the initiating client and the receiving client;

verify KYC status of the initiating client and the receiving client;

verify session balances in a distributed ledger against said smart contract terms,

validate the session with said session validation server; and

approve said session in said ledger.

2. The system of claim 1 wherein said ledger administration network further comprises an operator node server adapted to communicate with a said ledger administration server and a plurality of said clients wherein said clients initiate communications sessions by sending messages to said operator node, and said operator node sends messages to said ledger administration server requesting the initiation of said sessions.

3. The system of claim 1 wherein said ledger administration network further comprises a proxy validation server adapted to communicate with said ledger administration server and at least one said session validation server wherein said proxy server receives validation requests from said ledger administration server and validates such requests based on messages exchanged with said session validation server.

4. A method of validating communications sessions among clients using a ledger administration network wherein said ledger administration network:

receives a session request comprising smart contract terms and at least one receiving client from an initiating client;

validates digital signatures associated with said initiating client and said receiving client;

matches a session between the initiating client and the receiving client,

verifies customer status of the initiating client and the receiving client;

verifies session balances in a distributed ledger against said smart contract terms,

validates the session with a session validation server;

approves said session in said ledger; and

wherein said ledger administration network comprising:

at least one ledger administration server adapted to maintain

a distributed ledger comprising a data structure for storing at least communication session balances and node information that includes at least a node table, a session table, and a KYC validator table, and

a smart contract database adapted to store smart contracts; and

at least one session validation server adapted to validate communication sessions for at least one of said clients; and

at least one KYC server adapted to send and receive messages to said ledger administration server, said KYC server being further adapted to determine if a client is authorized to participate in a communications session.

5. The method of claim 4 wherein said ledger administration network further comprises an operator node server adapted to communicate with a said ledger administration server and a plurality of said clients herein said clients initiate communications sessions by sending messages to said operator node, and said operator node sends messages to said ledger administration server requesting the initiation of said sessions.

6. The method of claim 4 wherein said ledger administration network further comprises a proxy validation server adapted to communicate with said ledger administration server and at least one said session validation server wherein said proxy server receives validation requests from said ledger administration server and validates such requests based on messages exchanged with said session validation server.