By Emmie V. Abadilla
PLDT, Inc., along with other carriers, South Korea-based LG Uplus Corp. (LG Uplus), UAE-based Etisalat Group (Etisalat), South Korea-based KT Corporation (KT), Spain-based Telefónica, S.A. (Telefónica) are collaborating on building a next-generation global cross-carrier blockchain platform and ecosystem, according to the Carrier Blockchain Study Group (CBSG).
Blockchain is the world’s leading software platform for digital assets. Blockchain technology is used to transfer bitcoin and other digital assets across a peer-to-peer network.
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. and US-based blockchain technology company TBCASoft, Inc., US-based Sprint Corporation”) and Taiwan-based Far EasTone Telecommunications Co., Ltd.
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, or recharging of a pre-paid phone account as well mobile wallet roaming - a digital wallet that enables mobile users to make payment transactions on a mobile device when traveling outside their home countries with settlement through their home mobile carriers.
It also demonstrated international remittances, Internet of Things (IoT payments) and roaming charge settlements on a cross-carrier blockchain payment platform.
CBSG also functions as a working group for members to resolve issues related to technology, business and the regulations of various jurisdictions.