SoftBank, IBM to develop cross-carrier blockchain payments

Thursday 24 October 2019 13:37 CET | News

SoftBank has teamed up with IBM to develop cross-carrier blockchain solutions.

The focus of the partnership is to develop technologies that will allow smartphone users to make local payments when traveling overseas and roaming. Besides IBM, SoftBank will be working with blockchain startup TBCASoft, as well that develops cross-carrier blockchain networks in order to carry out applications under the Carrier Blockchain Study Group Consortium.

TBCASoft was founded in 2016 and has received funding from SoftBank. In 2017, together with SoftBank, Sprint and Taiwan’s FarEasTone, it formed the Carrier Blockchain Study Group (CBSG), now an 18-member consortium working toward the development of blockchain solutions for phone companies.

SoftBank added that the first project being undertaken by the CBSG is the Cross-Carrier Payment System (CCPS), which is aimed to allow mobile-phone customers to pay locally using their devices when traveling outside their home countries.

According to CoinDesk, other members of the consortium include Korea’s LG U+ and KT, Malaysia’s Axiata, Telekomunikasi Indonesia International, Turkey’s Turkcell and PLDT of the Philippines.

More: Link

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Keywords: Softbank, IBM, cross border payments, blockchain, smartphone, Asia
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Asia
This article is part of category

Blockchain & Cryptocurrencies