A group of telecommunications carriers has launched a new blockchain consortium.
Some of the notable firms involved include US-based carrier Sprint, Japanese telecom giant SoftBank, and FarEasTone, one of Taiwan’s largest.
The effort, dubbed the Carrier Blockchain Study Group, seems to have grown out of a collaboration announced between the companies in February. At the time, Sprint and others revealed that they were testing a platform, developed by blockchain startup TBCASoft, aimed at improving communications between carriers. The consortium will officially be unveiled during the Mobile World Congress Americas on September 12.
So far, the consortium has already successfully tested mobile payment systems and recharging prepaid phones across different carriers using the platform. In the future, the group will roll out applications for connected computing, personal authentication, and and debt resolution.
Doug Garland, Sprint’s VP for innovation and partnerships, said in a statement:
“CBSG is leading the telecommunication industry’s understanding and development of blockchain technology. The disruptive potential of blockchain on a global scale will be fully realized when carriers work together and leverage the new platform and ecosystem.”
The firms involved expressed hope that the consortium will attract other carriers. The consortium, according to the announcement, will act as a hub “for telecom carrier members to resolve issues related to technology, business and the regulations of various jurisdiction.”
Tech miniature image via Shutterstock
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