Six More Telecom Firms Join The Carrier Blockchain Study Group

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Six more international telecom companies have joined the Carrier Blockchain Study Group (CBSG), the global blockchain consortium of telecom carriers.

The group of telecom carriers was set up in September 2017 to jointly explore building an innovative next-generation global cross-carrier blockchain platform and ecosystem to better serve consumers.

The new entrants into the group are Malaysia's Axiata Group Berhad, Philippine-based PLDT, Inc., Indonesia's PT. Telekomunikasi Indonesia International (Telin), Turkey's Turkcell, Vietnam's Viettel Telecom Corp., and Kuwait's Zain Group.

The creation of CBSG, the leading telecom blockchain consortium, was led by U.S.-based blockchain technology company TBCASoft, Inc. and Japan's SoftBank Corp. along with U.S.-based Sprint Corp. and Taiwan's Far EasTone Telecommunications Co., Ltd. as initial founding members.

Other early members include South Korea's LG Uplus Corp., and KT Corp., as well as UAE's Etisalat Telecommunication Corp.

CBSG aims to develop solutions that will be specifically designed for telecom carriers and will help them create and extend their services beyond traditional markets and borders.

The consortium member companies are looking forward to bringing various services such as top-up, roaming wallet, secured clearing and settlement, personal authentication, IoT applications, etc. by leveraging blockchain technology.

"The core attributes of blockchains, which is shared ledger, can ensure trust and safe transactions between all participants which potentially can generate new services especially in the digital asset transactions area, mobile transactions and international remittance," said Telin CEO Faizal Djoemadi.

The consortium is also announcing the creation of an additional blockchain working group that will focus on global remittance services, among others.

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