Sprint, SoftBank, TBCASoft, And Far EasTone Collaborate To Form Carrier Blockchain Study Group
Announced on September 8, 2017, Sprint, SoftBank, Far EasTone, and TBCASoft have formed a partnership to launch the Carrier Blockchain Study Group (CBSG) consortium.
Sprint, SoftBank, and TBCASoft had previously partnered in February 2017 to explore blockchain technology as a means of providing mobile services, as reported by ETHNews. Now joined by Far EasTone, the group has formed CBSG to "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."
Doug Garland, Sprint VP of innovation and partnerships, spoke of CBSG's role in the telecom industry. He said, "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.”
SoftBank, Sprint, and TBCASoft report having successfully demonstrated that blockchain technology, built by TBCASoft, can apply to recharging pre-paid phone subscriptions and managing mobile wallets, as well as handling roaming remittance and internet of things payments on a cross-carrier system.
By connecting telecommunication channels through the backend, the system can put an end to late transactions and transaction failures amid carriers, thereby streamlining operations and reducing costs.
“TBCASoft is developing a cross-carrier distributed ledger network consisting of telecom carrier hosted servers running the TBCASoft blockchain platform," said Ling Wu, founder & CEO of TBCASoft, Inc., who went on to describe his company's strategy. "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.”
Mike Lee, executive VP of Far EasTone, acknowledges a growing desire from consumers for carriers to support on-the-go payments. "Mobile payment has a huge demand in Asian market, including Taiwan. The TBCASoft blockchain platform provides the solution to reshape the competition in this new business territory by having carriers work together on a distributed ledger system. More importantly, through CBSG Consortium, carriers can join together to fully exploit the potential of blockchain technology for providing global services.”
In the near future, CBSG will invite telecom carriers across the globe to provide commentary in order to help define the requirements of the cross-carrier blockchain platform, while functioning as a working group to resolve technology-related, business, and regulatory issues.