The TBCASoft blockchain platform, the technology giant IBM and the telecommunications conglomerate SoftBank announced the joint deployment of a blockchain-based payment solution.
According to a press release, the partnership aims to enable communication service providers to use blockchain through the Carrier Blockchain Study Group (CBSG) consortium, founded by TBCASoft and SoftBank.
The first application that CBSG intends to launch is the Cross-Carrier Payment System (CCPS). The purpose of the system is to provide users with the opportunity to use their mobile phones for settlements with local enterprises abroad. TBCASoft founder and CEO Ling Wu noted:
“As a pioneer in the field of blockchain-based solutions for communications service providers, we have worked closely with leading communications providers over the past 3 years as part of the CBSG consortium, to stimulate the implementation of the CCPS platform. […] We believe that this collaboration will benefit our customers, partners and the telecommunications industry. ”
It is reported that CCPS provides interoperability between various carriers, which, in turn, should create a network of enterprises accessible to mobile service clients. Softbank became the first operator to adopt CCPS and intends to launch a payment system in Tokyo in 2020.
According to reports, IBM will use the experience gained from working with 80% of telecommunication companies in the world to support the scaling of the ecosystem. TBCASoft also plans to use the IBM blockchain platform to offer open technologies and support multiple cloud environments. IBM Telecommunications Services Blockchain Vice President Utpal Mangla commented:
“Using a blockchain-based telecommunications network that can improve communication and payments between operators, we can help change the way communication operators communicate with partners and customers to provide innovative payment solutions.”
Last September it was reported that Softbank completed
proof of concept (PoC) in partnership with the TBCASoft blockchain startup, which allows you to make P2P payments between different mobile operators.
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