BARCELONA, Spain--(BUSINESS WIRE)--The Carrier Blockchain Study Group (“CBSG”), the global blockchain consortium of telecom carriers, today announced that South Korea-based LG Uplus Corp. (“LG Uplus”), UAE-based Etisalat Group (“Etisalat”), South Korea-based KT Corporation (“KT”), Spain-based Telefónica, S.A. (“Telefónica”), and Philippine-based PLDT Inc. (“PLDT”) agreed to jointly explore how to collaborate on building a next-generation global cross-carrier blockchain platform and ecosystem.
CBSG was launched in September 2017 to enable the joint development of an innovative blockchain platform designed specifically for telecom carriers, led by Japan-based SoftBank Corp. (“SoftBank”) and U.S.-based blockchain technology company TBCASoft, Inc. (“TBCASoft”), U.S.-based Sprint Corporation (“Sprint”) and Taiwan-based Far EasTone Telecommunications Co., Ltd. (“Far EasTone”). CBSG aims to provide telecom members and their customers various services such as secured clearing and settlement, personal authentication, IoT applications and other services using blockchain technology in the future.
CBSG promotes research and development of the blockchain platform, and already succeeded in demonstrating top-ups*1, mobile wallet roaming*2, international remittances, IoT payments and roaming charge settlements on a cross-carrier blockchain payment platform. CBSG also functions as a working group for members to resolve issues related to technology, business and the regulations of various jurisdictions. As one of working groups, SoftBank and Far EasTone are planning a mobile wallet roaming trial to Japanese and Taiwanese travelers within FY2018. LG Uplus, Etisalat and KT have also agreed to evaluate CBSG initial use cases in their operations using TBCASoft technology.
Combining all participating carriers would put the consortium in the position to lead the blockchain initiative in the industry. With these new members, CBSG will accelerate the adoption of blockchain technology among telecom carriers and continue to expand carrier networks on a global scale.
Wonseok Cho, the VP of LG Uplus, said
“By establishing Blockchain between carriers, we can provide differentiated services by securing transparency, security and real-time transactions of Blockchain-advantages. LG Uplus will continue to explore differentiated customer values through cooperation with CBSG.”
Khalifa Al Shamsi, Group Chief Corporate Strategy and Governance Officer
of Etisalat Group, said
“Blockchain is currently one of the most promising technologies across industries and organizations who are exploring its potential impact and benefit from this emerging technology that will enhance consumer services by bringing in innovative tools to improve their experience on digital platforms. We are looking forward to collaborate with CBSG to explore possibilities to capitalize on this next-generation global cross-carrier blockchain platform and ecosystem. This collaboration is in line with our ongoing strategy of focusing on ‘Driving a digital future to empower societies’ where technologies like blockchain will help drive innovation in customer experience and contribute towards the blockchain ecosystem.”
Mihyang, Lee of KT, Senior Vice President of Convergence Business
“Blockchain will help KT transform to full-fledged Digital Service Providers securing a sound position in the rapidly changing market, and KT sees the greatest opportunities in the areas of energy, healthcare and global roaming business.”
*1 Recharging of a pre-paid phone account
*2 A digital wallet that enables mobile users to make payment transactions on a mobile device when traveling outside their home countries with settlement through their home mobile carriers.