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.