SoftBank, TBCASoft Launch Blockchain-Based ID Working Group For Telecom Sector
Japan’s SoftBank and U.S.-based blockchain technology company TBCASoft launched a blockchain-based “Identification & Authentication” working group under the Carrier Blockchain Study Group (CBSG), the global blockchain consortium of telecom carriers.
CBSG was set up in September 2017 to jointly explore building an innovative next-generation global cross-carrier blockchain platform and ecosystem to better serve consumers.
It aims to develop solutions that will be specifically designed for telecom carriers and will help them create and extend their services beyond traditional markets and borders.
TBCASoft, one of the leading members of CBSG, develops innovative solutions specifically for telecommunication carriers using blockchain technology. It is working with telecom carriers to provide comprehensive and cost-effective blockchain-based identification and transaction services.
TBCASoft has now created a new foundation application framework called CrossCarrier Identification System (CCIS) that will focus on enabling identification and authentication services.
Using CCIS for identification and authentication, businesses and individuals can create, share and verify encrypted digital identities without disclosing confidential or private information to the system providers on numerous internet databases. This will protect their personal information from identity thefts.
The creation of CBSG was led by TBCASoft and SoftBank along with U.S.-based Sprint Corp. and Taiwan’s Far EasTone Telecommunications Co., Ltd. as initial founding members. Other early members include South Korea’s LG Uplus Corp., and KT Corp., as well as UAE’s Etisalat Telecommunication Corp.
Six more international telecom companies joined the CBSG telecom consortium in July 2018. They are Malaysia’s Axiata Group Berhad, Philippine-based PLDT, Inc., Indonesia’s PT. Telekomunikasi Indonesia International (Telin), Turkey’s Turkcell, Vietnam’s Viettel Telecom Corp., and Kuwait’s Zain Group.
The consortium member companies are looking forward to bringing various services such as top-up, roaming wallet, secured clearing and settlement, personal authentication, IoT applications, etc. by leveraging blockchain technology.
The consortium also created an additional blockchain working group in September to develop a proof-of-concept (PoC) for Cross-Carrier Payment Service (CCPS) that facilitates global mobile payment services among telecommunication carriers.
After the success of the CCPS, CCIS is another important foundation application framework that TBCASoft has been developing for CBSG Consortium members.
Source: Read Full Article