Japanese Telecoms giant, Softbank Corp. launches a Blockchain proof-of-concept protocol for cross-carrier mobile payments. The details were made known on softbank.jp in the early hours of Wednesday.
Softbank Proof-of-Concept For Cross-Carrier Mobile Payments
SoftBank partners Synchronoss and TBCASoft on its new proof-of-concept protocol for an RCS and blockchain-based mobile payments service.
Softbank is a Japanese based telecom provider, Synchronoss technology is a Nasdaq listed company, and an innovator of cloud, messaging, digital and IoT products, while TBCASoft, Inc., an innovator of cross-carrier blockchain platform.
The blockchain mobile payment services are designed to enable its users to make a range of in-store, mobile and digital purchase directly from their devices. For example, a mobile customer based in Japan can travel to the USA and purchase dollar using the RCS that is aided by Softbank and Synchronous.
Further, the global messaging RCS can also be used to send payment conveniently. Notably, its flexibility through its CCPS blockchain API makes the recipient use an RCS global messaging app or legal messaging service such as SMS or mobile email to obtain peer-to-peer money transfer via the RCS wallet app anywhere in the world.
Vice President of Softbank Corp., Takeshi Fukuizumi noted that the RCS and blockchain based mobile payment proof-of-concept system shows the quality that can be delivered by operator led services. He further said that it would not only function as a mobile payment service empowering merchants to operate digitally than what was formerly available to some brands, but it will give their clients flexibility in their purchases.
Synchronoss President and CEO, Glenn Lurie also stated that the proof-of-concept ecosystem shows how Softbank is a leader in introducing cutting-edge technology to the market, through the usage of blockchain and RCS based mobile services which will change the current system by giving new opportunities to customers brand and businesses.
Glenn further noted that RCS messaging would become the foundation for a vibrant marketplace that will aid the interaction of merchants with their subscribers.