Telecoms Blockchain Group Promotes Demo Success

Multinational telecoms companies have joined the Carrier Blockchain Study Group (CBSG) to apply blockchain technology to the industry
23 February 2018   512

According to the Japan SoftBank’ announcement, the study group will join new members United Arab Emirates' telecom Etisalat, Spain's Telefonica and Philippine's PLDT. Also, two companies from South Korea, KT Corporation and LG Uplus, a subsidiary of LG will join the group too.

The Carrier Blockchain Study Group was established last year in September in order to research and develop an international cross-carrier blockchain platform. 

By establishing blockchain between carriers, we can provide differentiated services by securing transparency, security and real-time transactions.

Wonseok Cho

Vice president of LG Uplus

According to the release, the group of companies promotes its recent success in demonstrating a cross-carrier blockchain payment system to initiate phone bill top-ups, as well as mobile wallet roaming and remittances.

In future, CBSG plans to trial a blockchain platform to power mobile wallet roaming among Japanese and Taiwanese travelers in 2018.

US Congressman to Call for Crypto Ban

As reported, Brad Sherman has called for a blanket ban on cryptocurrency buying
19 July 2018   77

American authorities should ban cryptocurrencies and mining. Such a statement on was made by Congressman Brad Sherman during the hearings of the Committee on Financial Services at the US House of Representatives, CoinDesk reports.

According to Sherman, in the future, cryptocurrencies may become a form of money, but at the moment they are used either by rogue states to bypass American sanctions or by individuals to evade taxes.

We should prohibit U.S. persons from buying or mining cryptocurrencies.

Brad Sherman

Congressman, US

At the same time, Norbert Mitchel, director of the Data Analysis Center of the Heritage Foundation, noted that the possible use of crypto-currency for criminal purposes should not stain other possibilities of digital currencies.

Yes it is true that criminals have used bitcoin, but it's also true that criminals have used airplanes, computers and automobiles. We shouldn't criminalize any of those instruments simply because criminals used them. Those components I believe are the main barriers to widespread adoption in the U.S.

Norbert Mitchel

Director of the Data Analysis Center, Heritage Foundation

As Eswar Prasad, senior professor at Cornell University, said, the existence of cryptocurrencies had the potential to impact the financial services system, particularly the payments system, in positive ways.