Major telecom carriers across the globe have joined forces to launch a new blockchain consortium.
Japan-based SoftBank, US-based Sprint, Taiwan-based Far EasTone Telecommunications, and US-based TBCASoft have announced the launch of Carrier Blockchain Study Group.
The launch follows the partnership between SoftBank, Sprint, and TBCASoft, announced in February, aiming to jointly develop blockchain technology for telecom carriers. Far EasTone is the new addition to this consortium, which aims to build a next-generation global cross-carrier blockchain platform and ecosystem.
According to the official release, 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. It will also function as a working group for telecom carrier members to resolve issues related to technology, business and the regulations of various jurisdictions.
“CBSG is leading the telecommunication industry’s understanding and development of blockchain technology. The disruptive potential of blockchain on a global scale will be fully realized when carriers work together and leverage the new platform and ecosystem,” said Doug Garland, Sprint Vice President of Innovation and Partnerships.
In February 2017, SoftBank, Sprint and TBCASoft commenced a technical trial that connects TBCASoft’s blockchain platform to telecom carriers’ systems. They succeeded in demonstrating a cross-carrier payment platform system that uses TBCASoft’s innovative blockchain technology.
SoftBank, Sprint and TBCASoft demostrated 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 release said.
“TBCASoft is developing a cross-carrier distributed ledger network consisting of telecom carrier hosted servers running the TBCASoft blockchain platform. We aim to work with global telecom carriers to build a very secure and high-performance blockchain system where disruptive services can be ubiquitously provided to billions of telecom carrier subscribers worldwide.” said Ling Wu, Founder & CEO of TBCASoft, Inc.
CBSG now plans to invite global telecom carriers to participate and soon define the requirements of the cross-carrier blockchain platform.
Source: http://www.econotimes.com/Global-telecom-carriers-launch-blockchain-consortium-889956