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Telecoms blockchain consortium expands

telecoms dish

The Carrier Blockchain Study Group (CBSG) has announced the addition of six more telecom firms.

The companies joining are Asia’s Axiata Group Berhad, Philippine-based PLDT, PT Telekomunikasi Indonesia International, Turkey’s Turkcell, Vietnam’s Viettel, and Kuwait-headquartered Zain Group. They have agreed to explore collaboration on a global blockchain platform.

In September 2017 CBSG was founded by US-based blockchain technology company TBCASoft, SoftBank Corp, Sprint, and Taiwan’s Far EasTone. The Group aims to enable and encourage the joint development of telecom blockchain initiatives.

More specifically, how blockchain can be used for digital payments, clearing and settlement, ID authentication and IoT applications.

The recent announcement includes the addition of a new working group committed to improving global remittance services with a particular focus on global carriers.

Although CBSG’s solutions are tailored to telecoms, the Group feels that blockchain can extend services beyond their traditional market.

“By transporting valuable digital assets over mobile networks in a secure and transparent framework, blockchains can speed the growth of the digital economy and help us to deliver new services for our customers,” said Kaan Terzioglu, CEO of Turkcell.

Faizal Rochmad Djoemadi, CEO of Telekomunikasi Indonesia echoed Terzioglu’s sentiment: “The core attributes of blockchains, which is a shared ledger, can ensure trust and safe transactions between all participants which potentially can generate new services especially in the digital asset transactions area [like] mobile transactions and international remittance.”

This marks another coup for CBSG, which had already welcomed LG Uplus Corp, Etisalat Group, KT Corporation, and Telefónica into their ranks in February.

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