Japan-based SoftBank, Taiwan-based Far EasTone and U.S.-based TBCASoft has launched a new blockchain consortium, Carrier Blockchain Study Group (CBSG).
CBSG said it will soon extend the invitation to join to global telecom carriers to participate and soon define the requirements of the cross-carrier blockchain platform.
SoftBank, Sprint and TBCASoft also succeeded in demonstrating a cross-carrier payment platform system that uses TBCASoft’s innovative blockchain technology.
In February 2017, SoftBank, Sprint and TBCASoft agreed to aim to cooperate in jointly developing blockchain technology for telecom carriers, and commenced a technical trial that connects TBCASoft’s blockchain platform to telecom carriers’ systems.
With Far EasTone newly joining this association, it since developed into a consortium that aims to build a next-generation global cross-carrier blockchain platform and ecosystem. CBSG will promote research and development for the platform with the aim of providing users various services such as secured clearing and settlement, personal authentication, IoT applications, and other services in the future.
SoftBank, Sprint and TBCASoft succeeded in demonstrating cross-carrier top-ups, mobile wallet roaming, international remittances and IoT payment on a cross-carrier payment platform system using TBCASoft’s blockchain technology that can be integrated with telecom carriers’ existing systems. TBCASoft’s technology enables a highly secure and versatile global blockchain platform system that can be operated 24/7 at low cost.
The project connects carriers’ telecommunication backend systems that can eliminate late transactions or transaction failures between telecom carriers. Not only can the system significantly improve existing business operations, but more importantly it also enables various business opportunities for telecom carriers.
The consortium will also function as a working group for telecom carrier members to resolve issues related to technology, business and the regulations of various jurisdictions.