Softbank Completes PoC for Blockchain Cross-Carrier Payments

Softbank Completes PoC for Blockchain Cross-Carrier Payments

Softbank Completes PoC for Blockchain Cross-Carrier Payments

"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, an innovator of cross-carrier blockchain platform technology, has reportedly been working with SoftBank to develop the Cross-Carrier Payment Service that is meant to facilitate payments from anywhere in the world and work with any service provider. 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.

Users of the new blockchain platform will not have to change their money at a bank when traveling internationally.

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.

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"A mobile customer based in Japan, for example, can travel to the United States of America and make a purchase in dollars via RCS which is supported by SoftBank and Synchronoss", explained in the press release.

This has been possible after a year when Softbank, Blockchain Startups, TBCASoft and significant other U.S. Carriers formed a Blockchain Carrier Study Group.

SoftBank's new proof-of-concept (PoC) development was announced in partnership with telecoms-focused blockchain firm TBCASoft and Synchronoss Technologies, provider of cloud, messaging, digital, and Internet of Things (IoT) services and platforms. The system also supports the use of application programming interfaces (APIs) that enable the payment recipient to use an RCS-based messaging app or even the traditional SMS or email, to receive P2P money transfers through the RCS wallet app either in the same country or overseas. The activity involved the partnering firms jointly creating the blockchain-based PoC, which integrates RCS with a distributed blockchain-based network deployed across multiple telecom carriers.

Due to the flexibility of the system, an individual can use an RCS-based messaging app or legacy messaging service like SMS or mobile email to receive person-to-person (P2P) funds through RCS wallet app either in the same country or overseas.

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Meanwhile, Sychronoss' CEO was optimistic that RCS messaging will be the new backbone of the marketplace for merchants and brands.

Takeshi Fukuizumi, the vice president of Softbank has opined that the upcoming service will enable the merchants to function "at a scale that was previously only available to big brands".

Synchronoss president and CEO, Glenn Lurie, said that the PoC will "disrupt the current messaging and payments market" as well as create ample opportunities for customers, brands and businesses alike.

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