LG Uplus, Etisalat, KT, Telefónica and PLDT back the Carrier Blockchain Study Group
23 February 2018 | Natalie Bannerman
LG Uplus, Etisalat, KT, Telefónica and PLDT have comes together support the Carrier Blockchain Study Group (CBSG), the global blockchain consortium of telecom carriers.
The partnership is to explore how to collaborate on building a global next-gen cross-carrier blockchain platform and ecosystem.
“Blockchain is currently one of the most promising technologies across industries and organizations who are exploring its potential impact and benefit from this emerging technology that will enhance consumer services by bringing in innovative tools to improve their experience on digital platforms., said Khalifa Al Shamsi, group chief corporate strategy and governance officer of Etisalat Group. “We are looking forward to collaborate with CBSG to explore possibilities to capitalize on this next-generation global cross-carrier blockchain platform and ecosystem. This collaboration is in line with our ongoing strategy of focusing on ‘driving a digital future to empower societies’ where technologies like blockchain will help drive innovation in customer experience and contribute towards the blockchain ecosystem.”
The CBSG was launched in 2017 to develop a blockchain platform designed specifically for telecom carriers, led by Japan-based SoftBank, TBCASoft, Sprint and Far EasTone. The CBSG has the goal of providing telecoms members and their customers with various services such as secured clearing and settlement, personal authentication, IoT applications and other future blockchain technologies.
“By establishing blockchain between carriers, we can provide differentiated services by securing transparency, security and real-time transactions of blockchain-advantages. LG Uplus will continue to explore differentiated customer values through cooperation with CBSG,” added Wonseok Cho, the vice president of LG Uplus.
So far the CBSG has successfully demonstrated top-ups, mobile wallet roaming, international remittances, IoT payments and roaming charge settlements on a cross-carrier blockchain payment platform.
In addition, the CBSG also acts as a working group for members to resolve issues related to technology, business and the regulations of various regions. As part of the CBSG SoftBank and Far EasTone are planning a mobile wallet roaming trial for Japanese and Taiwanese travellers within at some point during 2018. LG Uplus, Etisalat and KT have also agreed to evaluate CBSG initial use cases in their operations using TBCASoft technology.
Mihyang Lee of KT, senior vice president of convergence business department, commented: “Blockchain will help KT transform to full-fledged digital service providers securing a sound position in the rapidly changing market, and KT sees the greatest opportunities in the areas of energy, healthcare and global roaming business.”