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SoftBank To Develop Blockchain-Powered Payment System

By

Nathan

Graham

WriterETHNews.com

Users of the new blockchain platform will not have to change their money at a bank when traveling internationally.

Japan-based tech company SoftBank announced the development of a new blockchain-powered cross-carrier mobile payment service in a press release published on the company's website on September 12.

The new payment service proof of concept was reportedly developed in collaboration with Synchronoss Technologies and TBCASoft. Synchronoss is the creator of a multi-channel communications platform covering SMS, email, and RCS.

TBCASoft, an innovator of cross-carrier blockchain platform technology, has reportedly been working with SoftBank to develop the Cross-Carrier Payment Service that is intended to facilitate payments from anywhere in the world and work with any service provider.

The new blockchain platform is intended to give users the ability to make purchases in foreign countries without the hassle of going to the bank and exchanging their money. For example, a user of the platform who lives in America and travels to India will reportedly be able to make a purchase in rupees via the RCS global messaging service that is supported by SoftBank and Synchronoss.

Takeshi Fukuizumi, the vice president of SoftBank, commented on the announcement:

"We foresee our new mobile payment service empowering merchants to operate digitally, and at a scale that was previously only available to big brands, but it will also give our customers more flexibility when it comes to their purchasing and traveling habits."

This is not the first time SoftBank and TBCASoft have collaborated to bring blockchain technology to the telecommunications industry. In February 2017, ETHNews reported that the two companies had partnered with Sprint to connect TBCASoft's blockchain platform with Sprint's systems.

Nathan Graham

Nathan Graham is a full-time staff writer for ETHNews. He lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

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