TBCASoft, IBM and SoftBank are entering into a strategic collaboration to use cross-carrier blockchain technology to provide new services to telecom carriers and their subscribers, and foster innovative business models.
Based on the planned agreement, TBCASoft will bring technology and solutions, IBM will bring its blockchain technology, experience in integrating and scaling blockchain networks, and software solutions, and SoftBank will bring its telecommunications expertise to the collaboration.
The first application to be launched by the CBSG Consortium is the Cross-Carrier Payment System (CCPS), which will be designed to allow traveling mobile subscribers to use their mobile payment app with local merchants while abroad. TBCASoft blockchain technology aims to help optimize transaction records and clearing between different telecom carriers, also referred to as over-the-top (OTT) payment solutions. CCPS provides interoperability across different OTT payment networks, making established networks of merchants instantly available to telecom carrier subscribers.
SoftBank aims to launch the payment system in Tokyo in 2020.
Ling Wu, Founder and CEO of TBCASoft, said, “We believe that this collaboration will bring greater combined values to our customers, partners, and the telecommunication industry.”
Utpal Mangla, Vice President & Partner for Blockchain, IBM Telecommunications Services said, “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.”
Daichi Nozaki, VP & Head of SoftBank Global Business Division said, “We look forward to working on this ecosystem transformation initiated by the telecommunications industry, with carriers around the world united as one through blockchain technology.”