TBCASoft, IBM and SoftBank Corp announced a joint venture to revolutionize the telecommunication industry with the help of blockchain technology. The use of DLT for cross-carrier services is aimed to provide new telecom services to the subscribers and also increase the efficiency of the business structure.
The partnership would see TBCASoft fulfill technology needs, IBM would bring in its expertise on enterprise blockchain solutions while SoftBank will be tasked with providing its telecommunication expertise. The collaboration would also bring in Carrier Blockchain Study Group (CBSG) Consortium services into the use which is a blockchain consortium comprising of leading global carriers and co-founded by TBCASoft and SoftBank.
TBCASoft already boasts of an 18 member strong cross-carrier blockchain network that supports several industry-level use cases including cross-border payment, digital identity management, and telecom supply chain which would definitely help the partnership flourish further.
The role of each member in the partnership
The first project for the CBSG Consortium will be the development of the Cross-Carrier Payment System (CCPS).
The CCPS application would allow traveling subscribers to use their local mobile payment app for paying merchants in a different country. The use of blockchain technology would optimize transaction records between different telecom carriers known as Over the Top payment solution. Ling Wu, Founder, and CEO of TBCASoft said,
“As the global pioneer of cross-carrier blockchain solutions, we have been working closely with leading telecommunication carriers in the past 3 years under the CBSG consortium to drive adoption of CCPS platform. As the technology provider of CCPS, we are extremely excited to see the strong momentum of the platform and how it is positioned as an important pillar of the telecommunication transformation strategy. We believe that this collaboration will bring greater combined values to our customers, partners, and the telecommunication industry.”
IBM, on the other hand, has actively worked with TBCASoft to strategize the roadmap for the consortium and would also be responsible for scaling the infrastructure of the consortium as it has the experience of working with more than 80% of the telecom carriers.
Utpal Mangla, Vice President & Partner for Blockchain, IBM Telecommunications Services said,
“As telecommunication networks evolve and we move into the 5G era, carriers will help transform into digital service providers and provide consistent customer experiences across multiple platforms. Leveraging a telecommunications blockchain network that can enable improved cross-carrier relations, cross-carrier payment can help transform the way telecom carriers transact with partners and customers to deliver innovative payment solutions.”
SoftBank is one of the founding fathers of CBSG consortium and also the first adopters of CCPS. The firm would be responsible for providing strategic support, industrial expertise and technical inputs to make CCPS a success.