Softbank Completes Blockchain PoC for Cross-Carrier Mobile Payments

Japanese telecoms giant Softbank Corp. has completed a blockchain proof-of-concept that allows P2P mobile payments across different carriers.

Softbank said on Wednesday the technology was developed in partnership with blockchain startup TBCASoft, as well as Synchronoss, a Nasdaq-listed firm that delivered a SMS-replacement communications protocol called Rich Communication Service in Japan.

Based on the announcement, the partners jointly created the blockchain-based PoC, which notably integrates RCS with a distributed network deployed across participating carriers.

The system is intended to be deployed among mobile carriers in an effort to replace the traditional SMS text messging system with a richer pool of features, such as sending multimedia content, documents and voices calls via carrier networks instead of mobile apps.

"This RCS and blockchain based mobile payments PoC demonstrates the value operator-led services can deliver. Not only do we foresee our new mobile payment service empowering merchants to operate digitally, and at a scale that was previously only available to big brands, but it will also give our customers more flexibility when it comes to their purchasing and traveling habits."

The effort comes a year after Softbank, TBCASoft and several global major carriers formed a Carrier Blockchain Study Group with the goal of developing a cross-carrier blockchain payments service.

Others joining the consortium at the time included U.S.-based carrier Sprint and FarEasTone, one of largest operators in Taiwan.

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