SoftBank and IBM Partners To Develop Blockchain Payment Platform
October 24, 2019 11:00 pm
SoftBank is planning to partner with IBM to build cross-carrier blockchain solutions, through focusing technologies that will allow smartphone users to make local payments when traveling overseas and roaming.
An announcement said SoftBank said it is co-operating with IBM as well as blockchain startup TBCASoft that builds cross-carrier blockchain networks in order to carry out platforms under the Carrier Blockchain Study Group Consortium.
TBCASoft received funding from SoftBank. In 2017, along with SoftBank, Sprint and Taiwan’s FarEasTone, it established the Carrier Blockchain Study Group (CBSG), a team of 18-member consortium working toward the development of blockchain solutions for phone companies.
SoftBank added that the Cross-Carrier Payment System (CCPS), aims to allow mobile-phone customers to pay locally using their devices while traveling abroad. The consortium partnership list includes Korea’s LG U+ and KT, Malaysia’s Axiata, Telekomunikasi Indonesia International, Turkey’s Turkcell and PLDT of the Philippines.
The recent announcement did not provide much detail about the terms of the agreement between the three companies, though it added that TBCASoft will be using the IBM Blockchain Platform, IBM’s Hyperledger-powered enterprise blockchain solution.