SoftBank has revealed that it is partnering with multinational tech company IBM and blockchain developer TBCASoft on a project that will introduce a blockchain-powered platform. The platform would connect different mobile carriers to enable smartphone users to make local payments in other countries.
The project to develop the decentralized platform is being carried out to support applications under the Carrier Blockchain Study Group Consortium.
According to CoinDesk, TBCASoft was established in 2016 and has been funded by SoftBank. Previously in 2017, TBCASoft, SoftBank, Sprint, and FarEasTone joined together to introduce a consortium under the name of the Carrier Blockchain Study Group (CBSG).
Today, the consortium has 18 members and has an objective to develop blockchain solutions for phone companies.
Members of the group include LG U+ and KT in Korea, Telekomunikasi Indonesia International, PLDT in the Philippines, Axiata in Malaysia, and Turkcell in Turkey.
SoftBank has revealed that the CBSG is carrying out the Cross-Carrier Payment System (CCPS) project that will let mobile phone customers make payments when traveling overseas by using their own devices that will be supported by blockchain technology.
An announcement from SoftBank also disclosed that TBCASoft will be using IBM’s Blockchain Platform, the tech giant’s Hyperledger-powered enterprise blockchain solution.
However, IBM confirmed that it will not become part of the consortium led by SoftBank.
“This is a business relationship,” an IBM spokesperson stated. “IBM is not joining the consortium.”
In 2018, SoftBank had carried out a proof-of-concept trial with TBCASoft that successfully let users make peer-to-peer mobile payments from different mobile carriers.
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