Japan Softbank plans to promote the development of Blockchain technology in the telecommunications sector
Japan Internet Group SoftBank has created a dedicated organisation to promote the telecommunications sector in order to integrate greater use of Blockchain technology.
The CBSG group, which was set up in collaboration with three American companies, Sprint and TBCASOFT, telecommunications operator companies and developers of Blockchain in the sector.
Softbank’s use of blockchain technology in Asia and the Middle East is becoming increasingly important, especially with last year’s $10 billion investment fund in Saudi Arabia, which is being used directly to support fintech innovation.
The first task of the research group is to proceed by integrating blockchain technology into payments, as reported by VentureBeat.
So far, the consortium has already successfully tested mobile payment systems and recharging prepaid phones across different carriers using the platform.