According to the official press release on September 12, Japanese technology giant SoftBank is developing a blockchain-based mobile payment platform. SoftBank’s new proof-of-concept (PoC) platform will be made jointly with TBCASoft, a telecom-focused blockchain firm, and Synchronoss Technologies, which focuses on cloud service, messaging, and the Internet of Objects.
The mobile payment platform will be based on BlockHain and Rich Communication Services (RCS). With RCS technology, technologies such as location sharing, photo sending (without mms), file sending, voice recording can be used with data packets of phones now. However, the firm will use this service to send money between peers on a global scale. Besides, with the RCS wallet application produced by the firm, cryptocurrency purchases are also allowed inside the platform.
A New Form Of Uber
SoftBank is Uber’s largest shareholding company, which has become a very popular application in the world. In his statement, the company said that they have developed such an application so that mobile payments can be made between global telecom regions. SoftBank’s vice president Takeshi Fukuizumi stated that with this new application, the shops will be able to receive and service payment services “on a scale previously offered only in large brands”.
According to Synchronoss CEO and president Glenn Lurie, the blockchain-based RCS payment service will “play the existing messaging and payment market in place.” The fact that such a gigantic Japanese company is making a blockchain-based venture, of course, stands out as positive news for the market.