Softbank completes PoC for mobile payments in Blockchain

Japanese telecoms giant Softbank has concluded a proof of concept (PoC) in Blockchain that allows mobile P2P payments to different carriers. The PoC was concluded with success, the company says.

Softbank said the technology was developed in partnership with startup TBCASoft and also with Synchronoss, a Nasdaq-listed company that delivered an SMS replacement communications protocol called RCS in Japan.

According to the announcement made by Softbank, the partners jointly created the PoC based on Blockchain, which integrates the RCS with a distributed network among the participating operators.

The system is intended to be deployed between mobile operators in an effort to replace the traditional SMS text messaging system with a richer set of features, such as sending multimedia content, documents and voice calls via carrier networks instead of applications.

Softbank explained that with a distributed network as an underlying technology, users can send funds stored in their wallets within the RCS system from one carrier to another in a peer-to-peer manner - which would be especially useful when traveling to country of origin.