Blockchain Identification Working Group Announced By Japanese Telecom Giant SoftBankbr>
Japan-based telecom carrier SoftBank and California-based tech startup TBCASoft will be leading a new blockchain digital identification study working group under the Carrier Blockchain Study Group (CBSG).
Formed by SoftBank, Sprint, Far EasTone and TBCASoft in 2017, the CBSG aims to develop an innovative blockchain platform designed specifically for telecom carriers. The goal of the group is to give telecom members and their users different services such as secured global digital payments, personal authentication, Internet of Things (IoT) applications, clearing and settlement and other services using blockchain technology. CBSG members include LG Uplus, KT Corporation, Etisalat Telecommunication Corporation, PLDT, Turkcell, Viettel Telecom Corporation, and Zain Group, among others.
The new working group will collaborate with CBSG consortium members around the world. It will initially focus on a newly created foundation application framework called Cross-Carrier Identification System (CCIS) that is designed to enable identification and authentication services.
“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,” Takeshi Fukuizumi, VP of SoftBank said. “We have been working with TBCASoft on solving identification and authentication problems, and have an answer with CCIS. We believe that telecom operators under the CBSG consortium will play very important roles in the global identity business.”
According to the firms, CCIS provides a blockchain solution operated by independent CBSG carrier members under a CCIS Cross-Carrier Consensus with carrier-grade reliability. The solution enables issuing, storing and authenticating a user’s identification without having to reveal private detailed information by utilizing Zero Knowledge Proof cryptography and distributed ledger technology (DLT).
“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 centers,” the firms said. “Via CCIS, businesses and individuals can share and verify encrypted digital identities without disclosing confidential or private information.”
Ling Wu, Founder and CEO of TBCASoft, said that after the success of the Cross-Carrier-Payment System (CCPS), CCIS is another important foundation application framework that TBCASoft has been developing for CBSG consortium members.
“CCIS is a global platform that protects individuals’ identities from fraudulent activities with telecom carrier-grade reliability. TBCASoft is committed to working with telecom carriers to provide comprehensive and cost-effective blockchain-based identification and transaction services to businesses and individuals around the globe.”