Japanese telecommunications giant Softbank Corp. has completed a proof-of-concept blockchain (PoC) that allows P2P mobile payments across different carriers.
Softbank said the technology was developed in collaboration with TBCASoft, startup blockchain, such as Synchronoss, a company listed on the Nasdaq that provided an SMS replacement communication protocol called Rich Communication Service (RCS) in Japan.
According to the announcement, the partners created together the blockchain-based PoC, which in particular integrates RCS with a distributed distributed network among the participating carriers.
The system is intended to be implemented among mobile operators in an attempt to replace the traditional SMS messaging system with a richer set of functions, such as the sending of multimedia content, documents and voice calls by operator telephone networks instead of mobile apps.
Softbank further explained that, with a distribution network as an underlying technology, users can send funds stored in their portfolios within the RCS system from one carrier to another in a peer-to-peer fashion – that would be particularly useful when traveling abroad
Softbank Corp. vice president Takeshi Fukuizumi commented in the announcement:
"This RCC and payment-based PoCs based on blockchain demonstrate the value that services led by the operator can offer.Not only do we foresee our new mobile payment service that empowers traders must operate digitally and with a scale that was previously only available for major brands, but will offer our customers greater flexibility when it comes to their buying and traveling habits. "
The effort comes a year after Softbank, TBCASoft and several major global carriers formed a group of the Carrier Blockchain studio with the aim of developing a cross-carrier blockchain payment service. Among the other members of the consortium were Sprint and FarEasTone, one of Taiwan's largest operators.
Softbank image via Shutterstock