A group of ASEAN and South Asian operators - Axiata Group, PLDT, Telin, Turkcell, Viettel and Zain - has joined the Carrier Blockchain Study Group (CBSG), a leading telecom blockchain consortium.
Launched in September 2017, the consortium is formed to enable joint development of an innovative blockchain platform designed specifically for telecom carriers. It is led by U.S.-based blockchain technology company TBCASoft and SoftBank, with Sprint and Far EasTone Telecommunications as initial founding members.
Other members of the CBSG Consortium are South Korea-based LG Uplus , KT Corporation, and UAE-based Etisalat. CBSG aims to provide telecom members and their customers various services such as secured global digital payments, clearing and settlement, personal authentication, IoT applications and other services using blockchain technology.
Last year, the consortium successfully demonstrated 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. The technology enables a highly secure and versatile global blockchain platform system that can be operated 24/7 at low cost.
The blockchain platform and solutions proposed by the CBSG Consortium are specifically designed for telecom carriers and will help them create and extend their services beyond traditional markets and borders.