Mobile 360 Digital Societies 2019
On September 24, at the GSMA Mobile 360 Digital Societies Conference -- Ling Wu, Co-Chairman of the CBSG Consortium and CEO & Founder of TBCASoft led a panel that included Budi Satria, Chief Commerical Officer of Telin and Takeshi Fukuizumi, Head of Blockchain and Fintech at SoftBank Corp. Both Telin and SoftBank Corp. are members of the CBSG Consortium.
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Interview with Forkast News
How Telco Companies Could Become Banks
Main Takeaway: Initial solutions will be for transactions such as mobile wallet, remittance and top up. “So you have Hong Kong Telecom mobile service and I have T-Mobile. My account so far, is just used to pay phone bills. Imagine, without using an OTT service, I text you $5, so T-Mobile bills me $5 and you immediately receive a $5 credit.”
Carriers could potentially be like a bank.
Why should Carriers work with TBCASoft?
Main Takeaway: When Ling asks Telco CEOs about their prospects in 5G, many reply that their investment in 4G has not been fully returned yet. Investing in new technology like TBCASoft’s CCPS promotes exploration into new avenues of service for Telcos to profit.
What value does TBCASoft provide to Carriers?
Main Takeaway: If telecoms were to individually develop blockchain, their focus and resources would be diverted away from development of existing services and 5G. CBSG dedicates developers focused on blockchain innovation.
How does the CBSG Consortium help Carriers with regulators?
Main Takeaway: The TBCASoft platform does not use cryptocurrency that could subject users to wild valuation swings and Carriers to more government scrutiny.
Also, as CBSG works with regulators in one market, it can apply learnings to other Carrier markets.
Where is TBCASoft right now?
Main Takeaway: We are ready to launch. In Q1 2019, CBSG Carrier members including Taiwan-based Far EasTone Telecommunications, Korea-based LGU+ and Japan-based SoftBank Corp. completed CCPS mobile wallet transactions on the payment network of the other Carriers. For example, SoftBank mobile users traveled to Taiwan and purchased goods at a participating retailer using their home 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. CCPS provides a prompt settlement mechanism in Cross-Carrier services and offers users a friendly payment experience.
What technology system does CBSG use?
Main Takeaway: TBCASoft uses the Byzantine Fault Tolerance (BFT). It is in the public domain and inspired by some Byzantine Generals’ Problem, where two parties can coordinate simultaneous actions but uses a communication-heavy mechanism. Satoshi’s proof of work avoids communication as a feature, but once parties can communicate efficiently, BFT can effectively achieve a consensus without the energy consuming burden of proving something.
How does TBCASoft balance open access and closed security?
Main Takeaway: Fully open and public blockchains like Ethereum or Blockchain have fully evident shortcomings and volatile valuation swings. Meanwhile, a completely closed blockchain hinders accessibility to the public at large. CCPS is a secure network involving established telecoms which, when combined, already have an extensive worldwide accessibility in its services.
What is TBCASoft’s prediction for blockchain?
Main Takeaway: Blockchain will not slow down. In 2017, the telco industry was just grasping the potential of blockchain. Today, everyone is focused and on board, with more and more people developing applications. The dramatic difference over the years signifies greater and exciting adoption in the future.
Ling Wu Compares TBCASoft & Libra
On June 26th, Ling Wu, Co-Chairman of the CBSG Consortium and CEO & Founder of TBCASoft, and Glenn Lurie, CEO of Synchronoss, shared the latest insights about the rapidly developing blockchain ecosystem.
Blockchain fits extremely well with what Carriers have and can help them to better monetize their assets and investments. This is a once in a generation opportunity for Carriers.
GSMA MWC Barcelona 2019
Presentation by Ling Wu and Takeshi Fukuizumi
Post-presentation panel discussion
Takeshi Fukuizumi, VP of Information Services Development at SoftBank Corp., and Ling Wu, Co-Chairman of the CBSG Consortium and CEO & Founder of TBCASoft, were the featured speakers at an AI and blockchain session where they announced TBCASoft's new foundation application framework called Cross-Carrier Identification System
Also at MWC Barcelona 2019, Ling Wu was part of a TV panel discussion, 'Operator's Opportunities in Blockchain' which was broadcast live via Mobile World Live and rebroadcast during the conference; also on the panel was Ivo Rook, SVP for Internet of Things at Sprint (far right); Sprint is one of the CBSG Consortium founding members.