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U.S.-based blockchain firm TBCASoft, Japan-based SoftBank, and tech giant IBM are teaming up to transform the telecommunications industry with cross-carrier blockchain solutions.
TBCASoft and SoftBank are among the founding members of the Carrier Blockchain Study Group (CBSG), the global blockchain consortium of telecom carriers launched in September 2017. CBSG aims to build a next-generation global cross-carrier blockchain platform and ecosystem.
Under the new collaboration, TBCASoft, IBM and SoftBank aim to enable carriers to leverage blockchain technology through the CBSG consortium.
According to a press release, TBCASoft will bring technology and solutions, IBM will bring its blockchain technology, experience in integrating and scaling blockchain networks, and software solutions, and SoftBank will bring its telecommunications expertise to the collaboration.
TBCASoft has created a cross-carrier blockchain network that supports numerous industry-specific use cases such as cross-border payments, digital identity, and telecom supply chain. The network already counts 18 participants.
As per the details, TBCASoft blockchain technology aims to optimize transaction records and clearing between different telecom carriers, also referred to as over-the-top (OTT) payment solutions. The company plans to use the IBM Blockchain Platform in its blockchain stack to offer open technology that can be used in multiple cloud environments, the release said.
The first application slated to launch by the CBSG Consortium is the Cross-Carrier Payment System (CCPS), which will provide interoperability across different OTT payment networks. It will basically allow traveling mobile subscribers to use their mobile payment app with local merchants while abroad.
In September 2018, LG Uplus, SoftBank, Far EasTone, and TBCASoft announced plans to test the CCPS platform.
Ling Wu, Founder and CEO of TBCASoft, revealed that the company has been working with leading telecommunication carriers for the past 3 years under the CBSG Consortium to drive adoption of the CCPS platform.
“As the technology provider of CCPS, we are extremely excited to see the strong momentum of the platform and how it is positioned as an important pillar of the telecommunication transformation strategy,” Wu added. “We believe that this collaboration will bring greater combined values to our customers, partners, and the telecommunication industry.”
SoftBank will be the first adopter of CCPS and aims to launch the payment system in Tokyo in 2020.
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