US technology multinational IBM and Japanese conglomerate SoftBank Corp. partnered with the telecommunications startup TBCASoft to adopt a payment option based on blockchain technology for mobile operators, which they plan to launch next year.
SoftBank Corp. made this statement recently to indicate that the three companies will join forces to apply blockchain technology among operators, in favor of the transformation of the telecommunications industry.
From this association, the three organizations will allow about 18 operators (according to the statement, that is the number of participants in the TBCASoft blockchain network, so far) “leverage blockchain technology through the Carrier Blockchain Study Group Consortium ( CBSG), a global consortium of blockchain operators ”, which was founded by TBCASoft and SoftBank and launched in September 2017. Regarding the contribution of each member to this association.
Softbank Corp. declared:
“Under the planned agreement, TBCASoft will provide technology and solutions, IBM will provide its blockchain technology, experience in the integration and scaling of blockchain networks and software solutions, and SoftBank will bring its telecommunications experience to the collaboration.”
IBM and SoftBank will use the blockchain network among operators of the telecommunications blockchain startup TBCASoft. According to the statement, this network has been designed for the admission of various use cases, such as: cross-border payments, digital identity management and supply chains in the telecommunications industry.
On the other hand, in the statement they explained that “TBCASoft plans to use the IBM Blockchain Platform in its blockchain stack to offer open technology that can be used in multiple cloud environments.”
Participating operators of the TBCASoft blockchain network will be the first to adopt the first application to be launched by the CBSG Consortium, which is known as CCPS (Cross-Carrier Payment System). This application is a payment system between mobile operators “that will be designed to allow mobile subscribers traveling to use their mobile payment application with local merchants abroad,” they said in the statement.
As explained in the press release, this blockchain-based payment application will provide interoperability between different telecommunications operators through different OTT payment networks, making established merchant networks instantly available to subscribers of telecommunications operators, sentenced.
It should be noted that this payment system has not yet been launched. According to the statement, SoftBank, as co-founder of the CBSG Consortium and first adopter of this system, plans to launch CCPS next year, in Tokyo.
The vice president and head of the global business division of SoftBank Corp., Daichi Nozaki, expressed expectations about this partnership with IBM and TBCASoft:
“We are proud to contribute to this project, which uses our experience as the first adopter of the CCPS platform. We look forward to working on this transformation of the ecosystem initiated by the telecommunications industry, with operators from around the world united as one through blockchain technology. ”
Daichi Nozaki, vice president and head of the global business division of SoftBank Corp.
For its part, Utpal Mangla, vice president and partner of Blockchain, IBM Telecommunications Services, said that by taking advantage of the use of a blockchain network for telecommunications, it can improve relations between operators, as well as “help transform the way in which telecommunications operators carry out transactions with partners and customers to offer innovative payment solutions. ”
From TBCASoft, its founder and CEO, Ling Wu, said the following:
“As global pioneers of blockchain solutions among operators, we have been working closely with the main telecommunications operators in the last 3 years under the CBSG Consortium to promote the adoption of the CCPS platform.
It is believed that this collaboration will bring greater combined values to our customers, partners and the telecommunications industry. ”
On February 26, the Japanese telecommunications and Internet conglomerate SoftBank Corp. and the American blockchain startup TBCASoft launched an “Identification and Authentication” working group based on blockchain technology, under the Carrier Blockchain Study Group (CBSG) consortium.
CBSG is a blockchain consortium for the telecommunications industry, launched two years ago by TBCASoft, Inc. (USA), SoftBank Corp. (Japan), Sprint (USA) and Far EasTone Telecommunications Co., Ltd (Taiwan). The objective of this consortium is to provide telecommunications members and their customers with services that use blockchain technology, according to a statement from SoftBank Corp.