TBCASoft hooks up with IBM and SoftBank to ramp up telecoms with blockchain

TBCASoft, IBM and SoftBank Corp. are collaborating to support the transformation of the telecommunications industry that is intended to use cross-carrier blockchain technology designed to enable new synergies throughout the industry, provide new services to telecom carriers and their subscribers, and foster innovative business models.   

Based on the planned agreement, TBCASoft will bring technology and solutions, IBM will bring its blockchain technology, experience in integrating and scaling blockchain networks, and software solutions, and SoftBank will bring its telecommunications expertise to the collaboration.

Together, the three companies will aim to enable carriers to leverage blockchain technology through the Carrier Blockchain Study Group (CBSG) Consortium, a global carrier blockchain consortium co-founded by TBCASoft and SoftBank.

TBCASoft has created a cross-carrier blockchain network that already includes 18 participants. This network is designed to support several industry-specific use cases including cross-border payments, digital identity, and telecom supply chain, leading to substantial opportunities for industry members.

The first application to be launched by the CBSG Consortium is the Cross-Carrier Payment System (CCPS), which will be designed to allow traveling mobile subscribers to use their mobile payment app with local merchants while abroad.

TBCASoft blockchain technology aims to help optimize transaction records and clearing between different telecom carriers, also referred to as over-the-top (OTT) payment solutions. CCPS provides interoperability across different OTT payment networks, making established networks of merchants instantly available to telecom carrier subscribers.

IBM has worked closely with TBCASoft to define the consortium strategy, and, through this new strategic collaboration, will also support the scaling of the ecosystem, leveraging the experience gained through working with 80% of the world’s telecommunication carriers.

To provide telecom carriers added flexibility, TBCASoft plans to use IBM Blockchain Platform in its blockchain stack to offer open technology that can be used in multiple cloud environments.

SoftBank is one of the founders of the CBSG Consortium and the first adopter of CCPS. SoftBank aims to launch the payment system in Tokyo in 2020.