Softbank Corp Partners Firms on Blockchain P2P mobile payment PoC

Softbank Completes Blockchain PoC for Cross-Carrier Mobile Payments

Softbank Completes Blockchain PoC for Cross-Carrier Mobile Payments

Softbank said on Wednesday that the innovation was created in partnership with blockchain startup TBCASoft, and also Synchronoss, a Nasdaq-listed firm that bore another form of messaging communications convention called Rich Communication Service (RCS) in Japan.

He further stated that the SoftBank is "at the forefront in bringing to market new cutting edge technology". Which means that users will be able to send payments regardless of what network they use. The platform allows users to complete purchases in-store, on mobile and digitally, including in local currencies, with global compatibility across carriers.

Softbank has stated that this new upcoming project envisions to provide an impetus to payment services in mobile devices among the global telecoms carriers.

Users of the new blockchain platform will not have to change their money at a bank when traveling internationally.

The group's effort comes a year after the three firms, along with several major global carriers, formed a Blockchain Study Group.

Use of RCS services with underlying blockchain technology can revolutionize the working of mobile payments. In association with blockchain, it planned to build this RCS among mobile carriers. "With our expertise and global reach across multiple messaging platforms - not only RCS but also email, IM, MMS and SMS, Synchronoss is ideally positioned to take advantage of this important new trend in mobile". Leveraging the innovative technologies of other SoftBank Group companies, SoftBank Corp.is also expanding into AI, smart robotics, IoT, FinTech, cloud security and other business sectors.


Softbank additionally clarified that, with a distributed network as a fundamental innovation, clients can send funds stored in their wallets inside the RCS agenda starting with one transporter then onto the next in a shared manner - which would be particularly valuable when traveling overseas.

The platform supports the use of blockchain APIs that lets payment recipients to use an RCS-based messaging app or traditional SMS and mobile email services to get money transfers via the RCS wallet app in the same country or overseas.

SoftBank further explained that worldwide purchases made can be done directly through an RCS-based messaging app, similar to a text message or email.

Softbank, the tech giant based in Japan will launch blockchain technology enabled cross-carrier payment service on mobile.

"RCS messaging will become the foundation for a new, feature-rich marketplace for brands and merchants, both large and small, to interact with subscribers".

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