CBSG Consortium is Reshaping Mobile Payments with Cross-Carrier Blockchain Platform
Bali, Indonesia, September 17, 2019 – 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 Corp., 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 and clearing and settlement, personal ID authentication and other services using blockchain technology.
About Far EasTone
Far EasTone Telecommunications (FET) is a leading company in Taiwan which provides telecommunications and digital application services. FET has continued to introduce new products and services utilizing access technologies, including 4G, 5G and Wi-Fi. Far EasTone was the first telecom operator in Taiwan to start operating 4.5G/LTE on 2,600MHz band in 2016. Furthermore, FET worked with Ericsson to establish the first 5G Lab in Taiwan. In 2019, “For Every Thought, We Go Further” is the new brand statement; through providing excellent customer experience, innovative application services and enhancing the ICT industry’s vertical integration, enterprise cloud services, FET will strive to reduce the gap between people and new technology and become the most preferred digital living partner for consumers. For more information please go to http://www.fetnet.net.
About SoftBank Corp.
Guided by the SoftBank Group’s corporate philosophy, “Information Revolution – Happiness for everyone,” SoftBank Corp. (TOKYO: 9434) combines telecommunications services with cutting-edge technologies to create and operate new businesses. SoftBank Corp. serves more than 44 million mobile consumer and enterprise subscribers in Japan, and as part of its “Beyond Carrier” strategy, is redefining industries by leveraging its unique strengths as a network operator to fully harness the power of 5G, big data, AI, IoT, robotics and other key technologies. To learn more, please visit www.softbank.jp/en/.
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 54.3 million connections as of June 30, 2019 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Today, Sprint's legacy of innovation and service continues with an increased investment to dramatically improve coverage, reliability, and speed across its nationwide network and commitment to launching a 5G mobile network in the U.S. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
TBCASoft is a U.S.-based company developing innovative blockchain technology specifically for telecommunication carriers. Its consortium-based blockchain platform enables carriers to create innovative services for their subscribers under a more secure, robust and efficient environment.
PT. Telekomunikasi Indonesia International (Telin) is a subsidiary of PT Telekomunikasi Indonesia, Tbk (Telkom), a state-owned telecommunication and network service provider. Telin focuses on international telecommunication business to manage and develop its business lines abroad. With its vision of “Global Digital Hub,” Telin owns subsidiaries in Singapore, Hong Kong, Timor Leste via its Telkomcel brand, Australia, Malaysia, USA, global offices in Myanmar, Macau, and Taiwan as well as a project in Kingdom of Saudi Arabia. The company owns 65 Points of Presence (PoP) located globally. Through Telkom Group strategy together with reliable networks and infrastructures, Telin is able to provide high quality services that reach all parts of the world in order to Enabling Your Global Digital Business and Solution.
Far EasTone Telecommunications Co., Ltd.
PT. Telekomunikasi Indonesia International
Corporate Communication Manager
TBCASoft, Inc. (USA)