SoftBank To Develop Blockchain-Powered Payment System

- Advertisement -

September 12, 2018 9:32 PM

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

Japan-based tech company SoftBank announced the development of a new blockchain-powered cross-carrier mobile payment service in a press release published on the company’s website on September 12.

The new payment service proof of concept was reportedly developed in collaboration with Synchronoss Technologies and TBCASoft. Synchronoss is the creator of a multi-channel communications platform covering SMS, email, and RCS.

TBCASoft, an innovator of cross-carrier blockchain platform technology, has reportedly been working with SoftBank to develop the Cross-Carrier Payment Service that is intended to facilitate payments from anywhere in the world and work with any service provider.

The new blockchain platform is intended to give users the ability to make purchases in foreign countries without the hassle of going to the bank and exchanging their money. For example, a user of the platform who lives in America and travels to India will reportedly be able to make a purchase in rupees via the RCS global messaging service that is supported by SoftBank and Synchronoss.

- Advertisement -

Takeshi Fukuizumi, the vice president of SoftBank, commented on the announcement:

“We foresee our new mobile payment service empowering merchants to operate digitally, and at a scale that was previously only available to big brands, but it will also give our customers more flexibility when it comes to their purchasing and traveling habits.”

This is not the first time SoftBank and TBCASoft have collaborated to bring blockchain technology to the telecommunications industry. In February 2017, ETHNews reported that the two companies had partnered with Sprint to connect TBCASoft’s blockchain platform with Sprint’s systems.

Nathan Graham is a full-time staff writer for ETHNews. He lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

- Advertisement -

Like what you read? Follow us on X @Bitnewsbot to receive the latest SoftBank, TBCASoft or other Ethereum business and finance news.



Previous Articles:

- Advertisement -

Latest News

Ripple Applies for US Banking License, Seeks Fed Master Account

Ripple Labs is seeking a national banking license in the United States from the...

Radix Launches Early Test for 1 Billion XRD DeFi Rewards Campaign

Radix will run a public test of its new DeFi rewards campaign from July...

Investors Pump $380M into Four Surging DeFi Protocols in June

Four emerging DeFi projects saw a combined inflow...

FHFA Chief Demands Probe Into Powell Over $2.5B Fed HQ Revamp

FHFA Director William J. Pulte has called for an immediate Congressional investigation into Federal...

SEC to Review Grayscale GDLC ETF Approval, Stays Conversion Order

The U.S. Securities and Exchange Commission (SEC) is reviewing its staff’s approval to convert...

Must Read

7 Best Crypto To Invest In This Year

Investing in cryptocurrencies has become a popular way for people to diversify their investment portfolio and make potential profits.However, with so many cryptocurrencies available...