The Carrier Blockchain Study Group (CBSG) – a global consortium of telecom carriers exploring how to collaborate on building a global cross-carrier blockchain platform and ecosystem – have announced that Axiata Group, PLDT, PT. Telekomunikasi Indonesia International (“Telin”), Turkcell, Viettel and Zain have joined the group.
The consortium also announced the creation of an additional blockchain working group that will focus on global remittance services. Blockchain technology is well suited for such transactions and streamlines processes to better serve consumers, CBSG said. The blockchain platform and solutions proposed by the consortium are specifically designed for telecom carriers and will help them create and extend their services beyond traditional markets and borders.
The CBSG consortium was launched in September 2017 to enable the joint development of a blockchain platform designed specifically for telecom carriers, led by TBCASoft and SoftBank, with Sprint and Far EasTone as initial founding members. Other members include LG Uplus, KT Corp and Etisalat. CBSG aims to provide telecom members and their customers various services such as secured global digital payments, clearing and settlement, personal authentication, IoT applications and other services using the technology.
“Blockchain has been identified as a digital platform opportunity which, by design, is extremely well suited to the global telecom operator ecosystem of trusted, connected and distributed parties,” said Dominic P. Arena, group chief strategy and marketing officer at Axiata Group.
Katrina Luna-Abelarde – PLDT FVP, head of International and Carrier Business and PLDT Global president – said, “The inter-carrier blockchain technology will definitely bring enormous benefits to PLDT’s overseas customers whom we have been serving for over 15 years. With the transformation of their lifestyles in the digital era, they require the streamlined solutions proposed by the CBSG Consortium, such as global remittance services, among others.”
“By transporting valuable digital assets over mobile networks in a secure and transparent framework, blockchains can speed the growth of the digital economy and help us to deliver new services for our customers,” said Kaan Terzioglu, CEO of Turkcell. “We must look beyond simply extending the connectivity of existing telecom infrastructure. As mobile carriers, we are well positioned to offer a ‘blockchain-as-a-service’ ecosystem and we must use this advantage.”