PLDT joins research group on blockchain technology
Telco giant PLDT Inc. has agreed to collaborate with several global large telecommunications firms to develop a next generation international cross-carrier payment blockchain platform and ecosystem.
PLDT joins South Korea-based LG Uplus Corp., UAE-based Etisalat Group, South Korea-based KT Corp. and Span’s Telefonica S.A. in leading the blockchain initiative in the telco industry.
Led by Japan-based SoftBank Corp, U.S.-based blockchain technology firm TBCASoft, and Sprint Corp, and Taiwan’s Far EasTone Telecommunications Co, the Carrier Blockchain Study Group aims to provide telecom members and their customers various services such as secured clearing and settlement, personal authentication and IoT applications, and other services using blockchain technology.
CBSG also functions as a working group for members to resolve issues related to technology, business and the regulations of various jurisdictions.
As one of working groups, SoftBank and Far EasTone are planning a mobile wallet roaming trial to Japanese and Taiwanese travelers within the year.
PLDT first vice president Kat Luna-Abelarde said an innovative blockchain technology could offer various first-rate services which would be beneficial to PLDT’s overseas customers, making it more secure, convenient, and hassle-free for them to send remittances and conduct other transactions, as they connect with their families and friends in the Philippines and around the world.