Synchronoss – a cloud, messaging and internet of things solutions provider – has partnered with TBCASoft to develop a cross-carrier blockchain platform for the telecoms industry.
Last year, Synchronoss and TBCASoft completed a payment service proof of concept designed to allow users to make a range of in-store, mobile and digital purchases directly from their devices using Synchronoss’ SMS, email and rich communications services platform.
The partnership will see Synchronoss work with TBCASoft find ways to leverage Distributed Ledger Technology to remove middlemen parties typically found in other payment ecosystems to create improved services, according to Synschronoss.
It will also saw Ling Wu, founder and CEO of TBCASoft, and Glenn Lurie, president and CEO of Synchronoss, carry out a joint discussion on “The Blockchain: Redefining Telecom Operators” at the Consumer Electronic Show in Las Vegas earlier this week.
TBCASoft also leads the SoftBank-backed Carrier Blockchain Study Group (CBSG), a global consortium of telecom carriers, that aims to facilitate global mobile payment services among its members, such as Axiata, PLDT, Telin, Turkcell, Viettel and Zain.
“Leading carriers recognize the value of a consortium-based blockchain, and the technology is gaining recognition as an innovative means of empowering carriers to provide differentiated services by securing transparency, security and real-time transactions with blockchain advantages,” said Ling Wu.
“As the carrier community drives towards a digital future to provide its customers with superior experiences, blockchain will be at the heart of that evolution. We are very excited about the collaboration with Synchronoss and its clear expertise in delivering innovative digital solutions which, with blockchain, will help carriers achieve their objectives.”
The CBSG consortium is separate from the blockchain-based proofs of concept that are taking place with the support of the International Telecoms Week Global Leaders’ Forum (ITW GLF). Colt and PCCW Global took part in the first trial under this scheme, to speed up voice settlements. Other carriers have joined the GLF project.