SoftBank Launches Blockchain-Based Cross-Carrier Payment System
The representatives of SoftBank, a Japanese media corporation, in collaboration with the IT company Synchronoss Technologies and TBCASoft, a developer of blockchain communication infrastructures, have created the Proof of Concept (PoC) protocol for the cross-carrier payments via mobile connectivity, according to the SoftBank’s official website.
Earlier in this year, Synchronoss launched a communication platform in Japan using the international standard Rich Communication Services (RCS). In turn, specialists from TBCASoft and SoftBank have worked together to create the Cross-Carrier Payment Service (CCPS) using the PoC protocol, which improves global mobile payment services for international telecoms operators.
The developers don’t disclose the technical features of the new PoC protocol, but it is reported that the system will allow users of Japanese mobile operators to make online purchases directly from the smartphones or other devices, regardless of the location.
The RCS mobile payment service, based on blockchain with the PoC protocol, will enable online shopping platforms to scale their coverage to a level, which was previously available only to large brands. The users will find it easier and more convenient to make purchases while traveling, Takeshi Fukuizumi, VP of Softbank, stated.
As previously reported, Softbank, the Japanese media giant, and one of the largest Chinese IT corporations Tencent took part in the investment of Bitmain, the manufacturer of mining equipment.