CBSG consortium is reshaping mobile payments with cross-carrier Blockchain platform

Leading telecom carriers and payment solution providers from the CBSG Consortium participated in a CBSG workshop, a two day executive working session, to conclude the commercial use-cases for mobile transactions using TBCASoft’s Cross-Carrier Payment System (CCPS) Platform.

Carriers are among the best globally distributed parties that can fully harness the benefits of blockchain technology and transform digital services. Compared to legacy mobile payment networks, the Cross-Carrier Blockchain-based network provides faster and more efficient transaction records clearing that removes the reconciliation bottleneck. This approach has a fundamental advantage over existing payment networks.

Ling Wu, Co-Chairman of the CBSG Consortium and Founder and CEO of TBCASoft said, “This workshop, organized by the CBSG Consortium, has helped Carriers create a strong business case using the CCPS Platform for mobile transactions. We are looking forward to this use-case being available in 2020. The CBSG Consortium will continue to share details on the commercial use-case.”

Daichi Nozaki, VP Global Business of SoftBank; and Co-Chairman of the CBSG Consortium said: “Our Consortium members have a great opportunity to differentiate their solutions, such as a mobile wallet service, with a Cross-Carrier/Border capability that seamlessly expands their market. That means a Consortium member’s subscriber can use their home mobile wallet to make transactions at the merchants acquired by another Consortium member without having to adopt another mobile wallet.”

Budi Satria Dharma Purba, Chief Commercial Officer of Telin said, “It is a pleasure to co-host this milestone event building powerful use-cases around the Cross-Carrier Blockchain Platform with visionary members of the CBSG Consortium. We continually strive to leverage advanced technologies to produce world-class digital solutions. The CBSG Consortium and TBCASoft’s Blockchain Platform will support Telin’s new digital value creation and leverage our network extensive coverages.”

Sherman Lee, CFO/EVP, Strategy and Finance of Far EasTone said, “After completing successful CCPS (Cross-Carrier Payment System) field trials across Japan/Korea/Taiwan in January of 2019, we are reaching another key milestone as members of the CBSG Consortium come together to build/validate a strong commercial use-case launching in early 2020. We believe the CCPS technology will transform carriers around the world to lead the next phase of a value-transfer network.”

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 Japan-based SoftBank Corp. (“SoftBank”), with U.S.-based Sprint Corporation (“Sprint”), and Taiwan-based Far EasTone Telecommunications Co., Ltd. (“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 and other services using blockchain technology.