Telecom Tech Outlook Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Telecom Tech Outlook
IBM, TBCASoft, and SoftBank join hands to bring new synergies throughout the telecommunications industry using cross-carrier blockchain technology.
Fremont, CA: To bring new synergies throughout the telecommunications industry using cross-carrier blockchain technology, IBM, TBCASoft, and Softbank are entering into a strategic collaboration. The three giants will bring in their own expertise to make this collaboration successful. According to an agreement, IBM will bring its blockchain technology, TBCASoft will bring technology and solutions, and SoftBank will unite its telecommunications expertise to this collaboration.
The companies will together aim to enable the telecom carriers to leverage blockchain technology with the help of the Carrier Blockchain Study Group (CBSG) Consortium, which is a global carrier blockchain consortium, whose co-founding members are TBCASoft and SoftBank.
These three companies collectively share a common vision and believe that the well-positioned telecom carriers will harness the service and benefits they provide for blockchain technology. The cross-carrier blockchain network created by TBCASoft already includes 18 participants.
The design of the network is planned in such a manner that it caters to the industry-specific use-case, including cross border payments, telecom supply chain, and digital identity, which opens up substantial opportunities for the industry members.
The Cross-Carrier Payment System (CCPS) is the first application to be launched by the CBSG Consortium, which will enable international travelers to make payment with their mobile payment app with local merchants, while abroad. The blockchain technology designed by TBCASoft helps to optimize transaction records and clearing between various telecom carriers, also known as over-the-top or OTT payment solutions. CCPS also provides cross-operation facilities across different OTT payment networks, making the networks of merchants instantly available to telecom subscribers.
TBCASoft has closely worked with IBM to recognize the consortium strategy, whose collaboration will also support the scaling of the ecosystem and leverage the experience gained through working with 80 percent of the world's telecommunication carriers. To add more flexibility, TBCASoft plans to use the IBM Blockchain Platform in its blockchain stack to offer technology that can be used in various cloud environments.
SoftBank, the co-founder of CBSG consortium and the first adopter of CCPS, is one of the telecom leaders of Japan and is providing industry expertise, technical service, and strategic support to launch the CCPS. SoftBank aims to initiate this payment system in Tokyo in 2020.
Utpal Mangla, IBM Telecommunications Services, said, "As telecommunication networks evolve and we move into 5G era, carriers will help transform into digital service providers and provide consistent customer experiences across multiple platforms. 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."
See also: Top Telecom Technology Solution Companies
However, if you would like to share the information in this article, you may use the link below: