TBCASoft, IBM (NYSE: IBM) and SoftBank Corp. (TSE:9434) has announced that they are entering into a strategic collaboration to support the transformation of the telecommunications industry that is intended to use cross-carrier blockchain technology designed to enable new synergies throughout the industry, provide new services to telecom carriers and their subscribers, and foster innovative business models, the company said.
Based on the planned agreement, TBCASoft will bring technology and solutions, IBM will bring its blockchain technology, experience in integrating and scaling blockchain networks, and software solutions, and SoftBank will bring its telecommunications expertise to the collaboration.
Together, the companies will aim to enable carriers to leverage blockchain technology through the Carrier Blockchain Study Group (CBSG) Consortium, a global carrier blockchain consortium co-founded by TBCASoft and SoftBank.
The three companies share a common vision and believe that carriers are well-positioned to harness the benefits of blockchain technology. TBCASoft has created a cross-carrier blockchain network that already includes 18 participants. This network is designed to support several industry-specific use cases including cross-border payments, digital identity, and telecom supply chain, to substantial opportunities for industry members.
TBCASoft is a US-based company developing innovative blockchain technology specifically for telecommunication carriers. Its consortium-based blockchain platform enables telecommunication carriers to create innovative services for their subscribers under a more secure, robust, and efficient environment. TBCASoft is located in Sunnyvale, California, the center of Silicon Valley. To learn more, visit TBCASoft at www.tbcasoft.com.