Sprint Corporation has teamed with TBCASoft, Inc. and SoftBank to develop blockchain technology for telecommunication carriers.
TBCASoft, based in Sunnyvale, Calif., develops consortium-based blockchain technology for telecommunication carriers.
SoftBank Corp. is a subsidiary of SoftBank Group Corp. that provides Internet connection services, mobile communication and fixed-line communication to customers in Japan.
Cross-Carrier Platform
The three companies will promote research and development to build a cross-carrier blockchain platform for a variety of services, including IoT applications, secured clearing and settlement, personal authentication and other services telecommunication carriers provide.
In June 2017, the companies will begin a technical trial to connect TBCASoft’s blockchain platform to telecommunication carriers’ systems. The parties will collaborate on issues related to technology, business and regulations of different jurisdictions.
Sprint developed the first wireless 4G service from a national carrier in the United States.
Telecom Invests In Blockchain
A recent Deloitte survey found blockchain technology is being adopted across industries, including telecommunications, consumer products, manufacturing, technology and media.
In technology, media and telecom, 27% of executives said their companies will invest $5 million or more next calendar year. Twenty-three percent of responding financial services report such investments planned for 2017.
Thus, telecom, technology and media industries are possibly the most aggressive investors in blockchain technology, according to the survey. Thirty percent of respondents in those industries say their companies are done with blockchain research and development and have moved on to production.
Also read: Tech, media telecom more aggressive blockchain investors than financial services
Telecoms Have Much To Gain
Blockchains may be able deliver a broad variety of applications across the telecom industry, according to a report by Deloitte and the Blockchain Institute. The report noted the technology has the potential to significantly impact communication services provides’ (CSPs) operating models.
The impact depends on how actively the adoption of use cases is driven by CSPs. Companies such as Orange and Verizon, amongst others, have invested in startups in the blockchain area to explore synergies and potential use cases. More players are researching use cases in-house.
Image from Shutterstock.
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