Softbank to launch blockchain based cross-carrier payment service on mobile 22954 Softbank, the tech giant in Japan
News
Ashmita Dutta
Sep 12, 2018 at 7:55 PM

Softbank, the tech giant based in Japan will launch blockchain technology enabled cross-carrier payment service on mobile. The announcement about this development has been made on 12th September through a press release. Softbank has entered into a partnership with Synchronoss Technologies and TBCASoft, a blockchain firm dealing with telecommunication.

The former provides services on Internet of Things [IoT], messaging, cloud and is a digital platform, as well. Rich Communication Services and the cross-carrier blockchain powered platform of TBCASoft will form the basis of this new mobile payment service. The service will facilitate the users to carry out peer to peer international transfer of money. This will also assist to directly conduct internal purchases from the devices of the users through the wallet application of RCS.

Softbank has stated that this new upcoming project envisions to provide an impetus to payment services in mobile devices among the international telecoms carriers. Here, the role played by Synchronoss is providing a platform that support communications in multi channels that ends up combining email, RCS and text messages. As per the statement, the platform was launched in the initial phase of 2018.

The statement of Softbank Vice President

Takeshi Fukuizumi, the vice president of Softbank has opined that the upcoming service will enable the merchants to function “at a scale that was previously only available to big brands.” However, Glenn Lurie, the president and CEO of Synchronoss has stated that the new mobile service based on blockchain technology will  “disrupt the current messaging and payments market.”

He further stated that the SoftBank is “at the forefront in bringing to market new cutting edge technology.” Recently, this Japanese tech giant created headlines by renouncing its involvement with the Bitcoin miner maker company, Bitmain. Also, it is planning to launch a blockchain powered platform for the reduction CO2 emissions.

See also: Former Googlers' Atlas Protocol raises millions in seed round led by Softbank, Baidu 

See also: Japan's Softbank denies involvement with Bitmain mining company 

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