Japanese multinational holding conglomerate SoftBank and US-based blockchain startup TBCASoft have introduced a blockchain-based identification and authentication working group under the Carrier Blockchain Study Group (CBSG).
Image: SoftBank and TBCASo have launched blockchain-based working group under Carrier Blockchain Study Group. Photo: courtesy of mapichai / FreeDigitalPhotos.net.
CBSG is the global blockchain consortium of telecom carriers, which was launched in September 2017.
TBCASoft has designed a new foundation application framework, CrossCarrier Identification System (CCIS), which will enable identification and authentication services.
SoftBank vice president Takeshi Fukuizumi said: “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.”
Both entities are managing working group under the CBSG consortium, and will work with CBSG Consortium members across the globe.
Majority of current identification systems depend on a centralized database, which are commanded by a minority group. Users of those services need to have faith on one centralized authority to offer accurate identification and authentication processes.
The process leads to disclosing of personal information by the individuals to the system providers on multiple internet databases.
CCIS offers a blockchain-based solution operated by independent CBSG carrier members under a CCIS cross-carrier consensus with carrier-grade reliability, compared against centralized services.
CCIS adopts zero knowledge proof cryptography and distributed ledger technology (DLT), which allows to issue, store and authenticate user’s identification without revealing private detailed information.
CCIS enables individuals to create multiple accounts and remember countless passwords to protect their personal information from identity thefts by using TBCASoft’s cross-carrier blockchain technology and telecom carriers’ protected data centers.
Businesses and individuals can share and verify encrypted digital identities without disclosing confidential or private information through using CCIS.
TBCASoft founder and CEO Ling Wu said: “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.”