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SoftBank And TBCASoft Initiates Plans To Solve Issues With Online Authentication Using Blockchain

27 Feb 2019

SoftBank, a Japanese multinational holding conglomerate and TBCASoft are both actively exploring the use of blockchain technology to improve on the centralized and fragmented ID and authentication services currently available.

SoftBank and TBCASoft Are Officially Partners

SoftBank which announced a partnership with U.S.-based blockchain startup TBCASoft today has also created a working group. This working group was selected within an existing blockchain consortium of telecom carriers, the Carrier Blockchain Study Group (CBSG).

According to the announcement, the working group will start working on a new TBCASoft developed, foundation application framework called Cross-Carrier Identification System (CCIS). This system will help enable blockchain-based identification and authentication services.
The CCIS system is designed to make use of a zero-knowledge proof(ZKP) cryptography and distributed ledger technology (DLT) which makes it possible for storing, issuing, and authentication of users’ identification in a private and secure way, possible.

According to SoftBank, this new system is designed to help fix the current problem faced by users of current identification and verification services who have no other choice but to put their trust in a centralized organization. To access some services, these users are also forced to store their internet across multiple entities on the internet.

Freedom From Creating Multiple Online Accounts

SoftBank further explained that:

The CCIS system can give users “freedom from creating multiple accounts and remembering countless passwords to protect their personal information from identity theft,”

“We envision that individuals should create encrypted digital identities, instead of using and storing multiple usernames and passwords on databases here and there with various qualities of privacy protection. We have been working with TBCASoft on solving identification and authentication problems, and have an answer with CCIS.” SoftBank vice president Takeshi Fukuizumi explained

The announcement also made it clear that the two companies in the partnership are actively seeking collaborations with other “telecom operators under the CBSG consortium for the initiative.”

Source From : Coindoo News

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