February 22, 2024

Largest companies launch blockchain for mobile payments

Largest companies launch blockchain for mobile payments

Blockchain platform TBCASoft, technology giant IBM and telecommunications conglomerate SoftBank announcedcooperation on the implementation of a blockchain payment system between operators.

According to the press release, the solution will allowoperators use the Carrier Blockchain Study Group (CBSG) blockchain consortium, developed by TBCASoft and SoftBank. At the moment, 18 participants have already connected to the system. 

The application will allow users to use their phones for settlements with foreign enterprises and shops. TBCASoft founder and CEO Lin Wu noted:

We worked closely with leading operatorscommunications over the past 3 years as part of the CBSG consortium to stimulate the implementation of the CCPS platform. We believe that this cooperation will be beneficial to our customers, partners, and the telecommunications industry.

IBM leverages 80% experiencetelecommunication companies of the world to support ecosystem scaling. TBCASoft also plans to use the IBM blockchain platform to support multiple cloud systems. IBM vice president of telecommunications services said:

The telecommunications blockchain network for payments will help change the way operators communicate with partners and customers, and will also help provide innovative payment solutions.

As previously reported, Samsung Pay andFinablr payment platform signed a partnership agreement, intending to integrate the new cross-border transfer service into the Samsung Pay mobile app.

Based on materialscointelegraph.com