SoftBank Group is perhaps the company that most influence the frothy valuations of internet firms during the last decade. Hence the news that its telecoms subsidiary SoftBank Corp is joining the Japan Security Token Association (JSTA) adds credibility to this growing sector.
The JSTA already has several high profile members, including NTT Data consulting subsidiary Qunie, Deloitte Tohmatsu, Tokai Tokyo Financial, Sumitomo Mitsui Trust Research, Hanwha Asset Management, Mitsui Fudosan, and real estate firm LIFULL. It also has its share of blockchain and crypto startup members such as Securitize Japan, Tokensoft and Bitflyer.
However, while JSTA has numerous consulting members, and its focus is on sector research and promotion, another organization, the Japan Security Token Offering Association (JSTOA), boasts far more financial sector big hitters. The JSTOA positions itself as a self-regulatory organization and is certified by the Financial Services Agency. Its members include most of Japan’s biggest securities firms, including SMBC Nikko Securities, Daiwa Securities, Nomura Securities, MUFG, Sumitomo Mitsui Trust Bank and many more.
Meanwhile, SoftBank isn’t a complete newcomer to blockchain. But to date, its focus has been the use of blockchain between telecoms carriers. It’s one of the driving members behind the Carrier Blockchain Study Group (CBSG) run by TBCASoft and partnered with IBM. One of its solutions is a DLT-based Cross-Carrier Payment System (CCPS).
While CBSG was a first mover, it has since attracted competition from another telecoms consortium, the Communications Business Automation Network, originally called the Communications Blockchain Network.