Turkey’s Turkcell Joins Blockchain Consortium CBSG

Turkcell became part of the launched in 2017 blockchain consortium Carrier Blockchain aiming to provide new type of services to its clients.

Turkcell, a leading mobile network operator in Turkey, announced on Monday that it has joined the blockchain consortium Carrier Blockchain Study Group (CBSG).

“Due to blockchain technology, which gives the chance to transfer valuable digital assets via mobile networks safely, the digital economy will grow fast and new generation services will show up,” Turkcell’s CEO Kaan Terzioglu said in a statement.

CBSG was launched last year by four founding members, which include US-based mobile network operator Sprint Corp, blockchain firm TBCASoft, Japanese mobile services company Softbank, and Taiwan-based telecom Far EasTone.

“By transporting valuable digital assets over mobile networks in a secure and transparent framework, blockchains can speed the growth of the digital economy and help us to deliver new services for our customers. We must look beyond simply extending the connectivity of existing telecom infrastructure. As mobile carriers, we are well positioned to offer a ‘blockchain-as-a-service’ ecosystem and we must use this advantage,” Terzioglu was quoted as saying in a CBSG’s statement on its new members released last week.

Besides the founding members, leading telecoms companies like Axiata Group Berhad – headquartered in Malaysia, PLDT Inc from the Philippines, Telekomunikasi Indonesia International, Vietnam’s Viettel Group, and Zain Group from Kuwait have joined the consortium. Most of these companies have become new additions to the consortium along with Turkcell.

In February 2018, CBSG added South Korea’s KT Corporation and LG’s subsidiary LG Uplus, the UAE-based Etisalat Group, and Spain-based Telefonica.

The CBSG aims to secure easy access to digital solutions like payment, authentication, and internet of things (IoT) apps to its members and clients.

Turkcell, based in Istanbul, is Turkey’s leading mobile phone operator with around 69 million subscribers in nine countries as of 2015. The operator is in Forbes 2,000 list of the largest companies in the world. Also, it is the only Turkish company listed on the New York Stock Exchange (NYSE).