Telcoms test Softbank's blockchain tech for payments
Japan-based SoftBank Corp., U.S.-based Sprint Corp., Taiwan-based Far EasTone Telecommunications Co. Ltd. and U.S.-based TBCASoft Inc. last week announced a blockchain consortium intended to be a cross-carrier payment platform system that uses TBCASoft's blockchain technology.
In February 2017, SoftBank, Sprint and TBCASoft agreed to cooperate in jointly developing blockchain technology for telecom carriers, and started a technical trial that connects TBCASoft's blockchain platform to telecom carriers' systems, according to a press release.
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.
The Carrier Blockchain Study Group 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, according to the release.
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, according to the release.