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.”
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.
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