SoftBank To Develop Blockchain-Powered Payment System

Doris Richards
September 14, 2018

"The success of this PoC proves that our Cross-Carrier Blockchain Platform can help CSPs leverage common standards like RCS to deliver disruptive services to their customers". TBCASoft has been working with SoftBank, under the Carrier Blockchain Study Group (CBSG) Consortium, to deliver a cross-carrier blockchain platform called CCPS (Cross-Carrier Payment Service), which facilitates global mobile payment services among global telecommunication carriers. The platform is now being demonstrated at the Mobile Web Congress Americas conference that is taking place in Los Angeles, California, between September 12 and 14. Through this Blockchain platform, people will be able to travel to other countries and make purchases in those countries in fiat currencies without having to convert currencies.

Softbank further explained that, with a distribute network as a underlying technology, users can send funds stored in their wallets within the RCS system from one carrier to another in a peer-to-peer fashion - which would be especially useful when traveling overseas. A customer can travel from Japan to the U.S and make a purchase in dollars with RCS, supported by Synchronos and SoftBank. SoftBank announced that it has partnered with TBCASoft and Synchronoss Technologies which is a specialist in Blockchain technology, Internet of Things, messaging and even provider of the cloud. Here, the role played by Synchronoss is providing a platform that support communications in multi channels that ends up combining email, RCS and text messages.

SoftBank's Vice President, Takeshi Fukuizumi feels that the pilot project shows the value that operator-led services can offer.

This technology is developed in partnership with the blockchain startup TBCASoft, Synchronoss, RCS or Rich Communication service of Japan.

The payment service dubbed, Cross-Carrier Payment Service (CCPS) blockchain API enables the users to receive person-to-person money through the RCS app in either currency, according to a statement released by the company.

SoftBank Corp., a subsidiary of SoftBank Group Corp.

"RCS messaging will become the foundation for a new, feature-rich marketplace for brands and merchants, both large and small, to interact with subscribers", Lurie continued. Sychronoss Technologies is an global creator of cloud, digital, IoT, and messaging products.

Rich Communication Services (RCS) is a communication protocol between multiple mobile carriers and between the phone and carrier.

Synchronoss CEO and President Glenn Lurie believes the new platform will disrupt the current messaging and payments market, creating new opportunities for customers, brands and businesses.

Other reports by Iphone Fresh

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