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. (“SoftBank”) and U.S.-based blockchain technology company TBCASoft, Inc. (“TBCASoft”), U.S.-based Sprint Corporation (“Sprint”) and Taiwan-based Far EasTone Telecommunications Co., Ltd. (“Far EasTone”).

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 has already succeeded in demonstrating top-ups1, mobile wallet roaming2, international remittances, 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.

As one of working groups, SoftBank and Far EasTone are planning a mobile wallet roaming trial to Japanese and Taiwanese travelers within FY2018. LG UPlus, Etisalat and KT have also agreed to evaluate CBSG initial use cases in their operations using TBCASoft technology.

Combining all participating carriers would put the consortium in the position to lead the blockchain initiative in the industry. With these new members, CBSG will accelerate the adoption of blockchain technology among telecom carriers and continue to expand carrier networks on a global scale.

Wonseok Cho, the VP of LG Uplus, said, “By establishing Blockchain between carriers, we can provide differentiated services by securing transparency, security and real-time transactions of Blockchain-advantages. LG Uplus will continue to explore differentiated customer values through cooperation with CBSG.”

Mihyang Lee of KT, Senior Vice President of Convergence Business Department, said, “Blockchain will help KT transform to full-fledged Digital Service Providers securing a sound position in the rapidly changing market, and KT sees the greatest opportunities in the areas of energy, health care and global roaming business.”

*1 Recharging of a pre-paid phone account

*2 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.