Softbank CEO Miyauchi calls Blockchain Technology Disruptive

The Carrier Blockchain Study Group (CBSG) which represents the global consortium of telecom carriers have added new members and have further successfully completed cross-carrier mobile payment trials.

The new members include Taiwan-based Asia Pacific Telecom Co., Ltd. (APT), UAE based du from Emirates Integrated Telecommunications Company and South Afric based MTN Group. Hence the total number of carriers in the consortium is now fifteen.

While the cross-carrier payment system also called CCPS, was successfully carried out in January 2019. Far EasTone Telecommunications of Taiwan and Soft Bank Corp of Japan completed wallet transactions on the payment network of the other carrier.

Soft Bank mobile users who traveled to Taiwan purchased goods at a participating retailer using the same mobile wallet while on Far EasTone’s network. The advantage of such a system is the convenience of paying in their home currency and avoiding unnecessary credit card overseas transaction fees. The same trial was conducted by Fat EasTone user’s carrying out Japanese transactions on Soft Bank’s network using the same mobile wallet.

The successful cross-carrier payment system has been appreciated by the teams of the telecom companies participating in it. Softbank’s President and CEO Ken Miyauchi has applauded Blockchain technology which is responsible for the payment system.

Miyauchi was noted stating,

“Blockchain technology is a disruptive technology that enables fundamental breakthroughs for the telecommunications industry Softbank emphasizes the vision of a cross-carrier blockchain platform.”

Blockmanity’s Take

Blockchain is helping innovative technologies such as mobile technology and the internet of things, to create decentralization, increase transparency, secure authentication and jointly develop a more efficient platform for companies around the world.


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Amrit Mirchandani

Blockchain Lover | Hustler | Cryptocurrency Enthusiast

Share
Published by
Amrit Mirchandani

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago