The Carrier Blockchain Study Group (“CBSG”), the global blockchain consortium of telecom carriers, today announced that South Korea-based LG Uplus Corp. (“LG Uplus”), UAE-based Etisalat Group (“Etisalat”), South Korea-based KT Corporation (“KT”), Spain-based Telefónica, S.A. (“Telefónica”), and Philippine-based PLDT Inc. (“PLDT”) agreed to jointly explore how to collaborate on building a next-generation global cross-carrier blockchain platform and ecosystem.
CBSG was launched in September 2017 to enable the joint development of an innovative blockchain platform designed specifically for telecom carriers, led by Japan-based SoftBank Corp. (“SoftBank”) and U.S.-based blockchain technology company TBCASoft, Inc. (“TBCASoft”), U.S.-based Sprint Corporation (“Sprint”) and Taiwan-based Far EasTone Telecommunications Co., Ltd. (“Far EasTone”). CBSG aims to provide telecom members and their customers various services such as secured clearing and settlement, personal authentication, IoT applications and other services using blockchain technology in the future.
Combining all participating carriers would put the consortium in the position to lead the blockchain initiative in the industry. With these new members, CBSG will accelerate the adoption of blockchain technology among telecom carriers and continue to expand carrier networks on a global scale.
Wonseok Cho, the VP of LG Uplus, said:
“By establishing Blockchain between carriers, we can provide differentiated services by securing transparency, security and real-time transactions of Blockchain-advantages. LG Uplus will continue to explore differentiated customer values through cooperation with CBSG.”
Mihyang, Lee of KT, Senior Vice President of Convergence Business Department, said:
“Blockchain will help KT transform to full-fledged Digital Service Providers securing a sound position in the rapidly changing market, and KT sees the greatest opportunities in the areas of energy, healthcare and global roaming business.”