Japanese telecom SoftBank is exploring blockchain tech as a manner to enhance upon present centralized and fragmented ID and authentication companies.
The agency announced Tuesday that it has partnered with U.S.-based blockchain startup TBCASoft for the initiative and has created a working group inside an present blockchain consortium of telecom carriers, the Provider Blockchain Examine Group (CBSG).
SoftBank goals to make the most of TBCASoft’s utility framework, the Cross-Provider Identification System (CCIS), to allow blockchain-based identification and authentication companies.
TBCASoft’s CCIS system makes use of zero-knowledge proof (ZKP) cryptography and distributed ledger expertise (DLT) that permits the issuing, storing and authentication of customers’ identification in a personal and safe manner, SoftBank stated.
The hassle goals to handle the issues that customers of present identification and verification companies want to put belief in a centralized group, and should disclose their private information to a number of entities which is saved on completely different web databases.
The CCIS system may give customers “freedom from creating a number of accounts and remembering numerous passwords to guard their private info from id theft,” the corporate stated.
SoftBank vp Takeshi Fukuizumi defined:
“We envision that people ought to create encrypted digital identities, as an alternative of utilizing and storing a number of usernames and passwords on databases right here and there with numerous qualities of privateness safety. We have now been working with TBCASoft on fixing identification and authentication issues, and have a solution with CCIS.”
TBCASoft and SoftBank are additionally trying to collaborate with different telecom operators beneath the CBSG consortium for the initiative.
The CBSG consortium was launched again in September 2017, with different main operators together with U.S.-based provider Dash and one among Taiwan’s largest telecom operators FarEasTone. The consortium has already efficiently examined blockchain techniques for cell funds and topping up pay as you go telephones throughout completely different carriers utilizing TBCASoft’s platform.
Equally, SoftBank and TBCASoft beforehand labored with with Nasdaq-listed Synchronoss Applied sciences to complete a blockchain proof-of-concept that permits peer-to-peer cell funds throughout completely different carriers.
SoftBank store picture by way of Shutterstock