Based in both Taiwan and California, the blockchain platform, TBCASoft has just announced a collaboration project with the tech giant, IBM and the telecommunications firm, SoftBank.
The new project is being done in order to adopt a cross-carrier telecommunications blockchain payments solution.
According to the release, the partnership looks to allow carriers to use blockchain through the Carrier Blockchain Study Group (CBSG) Consortium - founded by TBCASoft and SoftBank. The global blockchain platform has reportedly already started on the cross-carrier blockchain solution with just shy of twenty participants.
The first application that CBSG intends to launch is the Cross-Carrier Payment System (CCPS), which focuses on allowing mobile service users to use their phones for payments with merchants across the globe.
The founder and CEO of TBCASoft Ling Wu noted:
“As the global pioneer of cross-carrier blockchain solutions, we have been working closely with leading telecommunication carriers in the past 3 years under the CBSG Consortium to drive adoption of the CCPS platform. [...] We believe that this collaboration will bring greater combined values to our customers, partners, and the telecommunication industry.”
CCPS is allegedly allowing for interoperability across different telecom carriers, which is likely to establish a network of merchants accessible to mobile service customers. SoftBank is the first carrier to take on board CCPS and aims to launch the payment system in Japan next year.
The Vice President & Partner for Blockchain, IBM Telecommunications Services Utpal Mangla commented:
“Leveraging a telecommunications blockchain network that can enable improved cross-carrier relations, cross carrier payment can help transform the way telecom carriers transact with partners and customers to deliver innovative payment solutions.”
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!