SoftBank, TBCASoft, Synchronoss Partner On RCS And Blockchain PoC

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Japan-based tech company SoftBank announced the development of a new blockchain-powered cross-carrier mobile payment service in a press release published on the company's website on September 12.

SoftBank has joined hands with Synchronoss Technologies Inc.

Softbank further explained that, with a distribute network as a underlying technology, users can send funds stored in their wallets within the RCS system from one carrier to another in a peer-to-peer fashion - which would be especially useful when traveling overseas. (SNCR), an American firm that provides secure, white label, mobile cloud, RCS messaging and digital solutions, and TBCASoft Inc., a USA -based blockchain startup. The platform allows users to complete purchases in-store, on mobile and digitally, including in local currencies, with global compatibility across carriers.

A trio of Japanese corporations have devised a working proof-of-concept (PoC) underpinned by blockchain that allows users to make peer-to-peer payments from their mobile phones. In association with blockchain, it planned to build this RCS among mobile carriers.

According to the official release, Synchronoss has launched a rich and secure multi-channel communications platform in Japan earlier this year, which covers SMS, email and RCS. Sychronoss Technologies is an worldwide creator of cloud, digital, IoT, and messaging products.

Softbank additionally clarified that, with a distributed network as a fundamental innovation, clients can send funds stored in their wallets inside the RCS agenda starting with one transporter then onto the next in a shared manner - which would be particularly valuable when traveling overseas. The flexibility of the CCPS blockchain API enables the recipient to use an RCS-based messaging app or legacy messaging services like SMS or mobile email, to receive person-to-person (P2P) money transfers through the RCS wallet app either in the same country or overseas. The messaging app can either be triggered by mobile email or SMS, while payments can be sent locally or overseas.

Commenting on the innovative payment service app, the vice president of Softbank Corp "Takeshi Fukuizumi" said that the app would empower the merchants to transact in digital money in a way similar to the one that has for always been enjoyed by the big brands.

"RCS messaging will become the foundation for a new, feature-rich marketplace for brands and merchants, both large and small, to interact with subscribers", Lurie continued.

Takeshi Fukuizumi, the vice president of Softbank has opined that the upcoming service will enable the merchants to function "at a scale that was previously only available to big brands".

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