Japanese Telecom giant Softbank has completed a proof of concept (PoC), which allows you to make P2P payments between different mobile operators.
Softbank said Wednesday that the technology was developed in partnership with blockchain startup TBCASoft and company Synchronoss traded on Nasdaq, which gave Japan the communication Protocol for the replacement of SMS called Rich Communication Service (RCS).
According to the statement, the partners jointly created a PoC on the basis of the blockchain, which, in particular, integrate RCS with a distributed registry that is deployed between the participating operators.
The system is designed to be deployed among mobile operators to replace traditional messaging SMS richer set of features such as sending multimedia content, documents, and voice calls through the networks of operators instead of mobile apps.
Softbank further explained that with a distributed network as the underlying technology, users can send funds stored in their wallets in the RCS, from the network of one operator to another in P2P mode, which would be especially useful when travelling abroad.
Vice President Softbank Fukuizumi Takeshi (Takeshi Fukuizumi) commented on the announcement:
“This is a proof of concept of mobile payments on the basis of the RCS and blockchain demonstrates the value that can be passed through the services managed by mobile operators. Not only do we anticipate creating our new mobile-payment service, enabling merchants to operate in digital mode and on a scale that was previously available only to large brands. We also expect that this service will provide our customers greater flexibility when it comes to their purchasing habits and travel.”
This initiative is a year after Softbank TBCASoft and several major global operators have formed Carrier Blockchain Study Group with the aim of developing a payment service based on blockchain for multiple mobile operators. The consortium then joined the American mobile operator Sprint and Taiwanese FarEasTone network.