SoftBank and IBM Team Up to Develop Innovative Blockchain Solutions

SoftBank develops blockchain solutions for several operators, paying particular attention to technologies that will allow smartphone users to make payments when traveling abroad and being in roaming. SoftBank stated it will collaborate with IBM, as well as with TBCASoft.

TBCASoft was founded in 2016 and received funding from SoftBank. In 2017, together with SoftBank, Sprint and the Taiwanese company FarEasTone, the Carrier Blockchain Study Group (CBSG) consortium was formed, which currently consists of 18 members and is developing blockchain solutions for telecom companies.

SoftBank added that the first project implemented by CBSG is a Cross-Carrier Payment System (CCPS), which is designed to enable mobile phone customers to make payments using their devices when traveling outside their country. Other consortium members are Korean LG U + and KT, Malaysian Axiata, Telekomunikasi Indonesia International, Turkish Turkcell and Philippine PLDT.

According to the announcement, TBCASoft technology helps to “optimize” clearing between different operators, as well as provides interoperability of mobile networks and the use of retail chains for payments. It is noted that SoftBank plans to launch a payment system in Tokyo in 2020, when the Olympics will be held.