SoftBank to power authentication services by blockchain

Posted 26 February, 2019

Japan’s SoftBank is in search of ways to improve its identification and authentication services and sets a sight at the blockchain technology.

According to the announcement made Tuesday, the bank has entered in partnership with a US blockchain startup TBCASoft striving to create a working group within its Carrier Blockchain Study Group (CBSG).

SoftBank is planning to implement the Cross-Carrier Identification System (CCIS) which is an application framework provided by TBCASoft. With this move, identification and authentication services will be readjusted to use the blockchain technology.

As for the CCIS, it uses zero-knowledge proof (ZKP) cryptography in addition to distributed ledger technology (DLT). As a result, it can issue, store, as well as authenticate customers privately with a high level of security.

These developments are addressing the issue that concerns a lot of users. Currently, they have to trust centralized organizations to pass identification and authentication, disclosing personal data which is further stored on various databases within the Internet.

"CCIS gives individuals freedom from creating multiple accounts and remembering countless passwords to protect their personal information from identity thefts by using TBCASoft ’s cross-Carrier Blockchain Technology and telecom carriers’ highly protected data centres," the company official press release reads.

Notably, TBCASoft and SoftBank intend to encourage other telecom operators to participate in the initiative. 

Previous story

26 February, 2019 16:37

← Chance of Brexit delay drives pound sterling up

The sterling posts an upturn on Tuesday, while investors remain focused on the Brexit progress. The sterling-to-US dollar exchange rate soared to some $1.3184 exceeding the end-January peak. The US Dollar index decreased to some 96.213. The UK Prime Minister Theresa May intends to make a proposal to the UK government in which she wants to rule out a no-deal Brexit option.

Chance of Brexit delay drives pound sterling up

Next story

26 February, 2019 13:06

Coinbase Pro: XRP now available for users →

Full-featured trading platform Coinbase Pro run by the US-based Coinbase announced the expansion of the list of supported coins with XRP this Monday. The XRP support will be implemented in several stages, including transfer-only, post-only, limit-only and the last one – full trading. Under the initial stage, Coinbase Pro will reportedly provide access to XRP to customers from the USA, UK, Canada, Singapore, Australia, and some European countries, while further geography expansion will be subject for future consideration.

Coinbase Pro: XRP now available for users
Write a comment
 
Prove you’re not a bot + 13 = 20