The Carrier Blockchain Study Group (“CBSG”), the global blockchain consortium of telecom carriers, today announced that Taiwan-based Asia Pacific Telecom Co., Ltd. (“APT”), U.A.E.-based du, from Emirates Integrated Telecommunications Company (“EITC”) and South Africa-based MTN Group (“MTN”), have joined the consortium to collaborate on building a next-generation global cross-carrier blockchain platform and ecosystem. This increases the number of trailblazing carriers in the consortium to 15.
The CBSG Consortium is also announcing successful field trials of its cross-carrier, cross-border, mobile payment service that is enabled by TBCASoft’s Cross-Carrier Blockchain Platform called CCPS (Cross-Carrier Payment System).
In January 2019, CBSG carrier members including Taiwan-based Far EasTone Telecommunications Co., Ltd. (“Far EasTone”) and Japan-based SoftBank Corp. (“SoftBank”) completed mobile wallet transactions on the payment network of the other carrier. SoftBank mobile users traveled to Taiwan and purchased goods at a participating retailer using their mobile wallet while on Far EasTone’s network.
The trials use either (i) direct carrier billing where transactions are conveniently billed and paid through their carrier in their home-currency and potentially avoiding credit card overseas-transaction fees, or (ii) an OTT payment adapter to link CCPS to popular OTT payment solutions. Similarly, Far EasTone mobile users traveled to Japan and made successful retail mobile wallet purchases while on SoftBank’s network. CCPS provides a prompt settlement mechanism in cross-carrier services and offers users a friendly payment experience.
The two carriers have discussed a high-level business model for the payment service and to evaluate future commercial trials.
The CBSG Consortium is the leading telecom blockchain consortium. It was launched in September 2017 to enable the joint development of an innovative blockchain platform designed specifically for telecom carriers, led by U.S.-based blockchain technology company TBCASoft, Inc. (“TBCASoft”), and SoftBank, with U.S.-based Sprint Corporation (“Sprint”), and Far EasTone as initial founding members.
CBSG aims to provide telecom members and their customers various services such as secured global digital payments, clearing and settlement, personal authentication, IoT applications and other services using blockchain technology.