This report provides an in-depth analysis of Telstra Corporation's digital transformation journey, focusing on its business models, industry dynamics, and competitive advantages. It begins with an introduction to Telstra as a telecommunications company and highlights the need for innovation within the industry, particularly in the context of blockchain technology. The report examines the existing situation of Telstra, its competitors, and the impact of digital transformation on its operations, including the adoption of new business models. It contrasts traditional and modern business models, emphasizing the role of augmented analytics and technology. The report further explores the effects of technology transformation on consumers and businesses, emphasizing customer satisfaction and the evolution of industry practices. It then discusses the advantages gained through IT services, such as enhanced efficiency and communication. The appendix includes trending technologies like Artificial Intelligence, Blockchain, Cloud Computing, and the Internet of Things that are crucial for Telstra's continued growth. The report concludes by summarizing the benefits of technology adoption and the ongoing need for innovation in the telecommunications sector. It also references several research papers to support its findings.