Japanese telecom giant Softbank has launched a blockchain-based service, which allows clients to make mobile P2P payments through different mobile operators. The technology was developed in partnership with blockchain startup TBCASoft, as well as Synchronoss, which provided a communication protocol based on SMS, called Rich Communication Service (RCS).
The system was created for several purposes at once. On the one hand, it is designed to replace the traditional SMS messaging system. Users will also be able to send funds stored in their wallets in the RCS system from one operator's network to another in a P2P mode, which would be especially useful when traveling abroad.
WHY IS IT IMPORTANT?
- The system is designed for deployment among mobile operators. It is assumed that it will replace the traditional SMS messaging system with a more extensive set of functions. As a result, users will be able to send multimedia content, documents and make voice calls through networks of operators instead of mobile applications.
- Representatives of the telecommunications giant also believe that the new service will provide customers with greater flexibility in matters of their buying habits and travel.