TMCnet News
LG Uplus, Etisalat, KT, Telefónica and PLDT to Support the Carrier Blockchain Study GroupThe 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 (News - Alert) Group ("Etisalat"), South Korea-based KT Corporation ("KT"), Spain-based Telefónica, S.A. ("Telefónica"), and Philippine-based PLDT (News - Alert) 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 (News - Alert)"). 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. CBSGalso 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 (News - Alert) 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
Khalifa Al Shamsi, Group Chief Corporate Strategy and Governance Officer
of Etisalat Group, said
Mihyang, Lee of KT, Senior Vice President of Convergence (News - Alert) Business
Department, said
*1 Recharging of a pre-paid phone account
View source version on businesswire.com: http://www.businesswire.com/news/home/20180223005167/en/ |